While encouraging Texas’ gold-backed digital currency project, Harris spoke unfavorably of a central bank digital currency (CBDC). “I think we would all agree that a CBDC is detrimental to the nation and the state of Texas,” the lawmaker said at the fireside chat, referring to many poten...
State Representative Mark Dorazio (R) has introduced twin bills, House Bill 1049 and House Bill 1056, proposing the creation of a digital currency that would be 100% backed by physical gold and silver through the Texas Bullion Depository. A Novel Approach to State Currency The proposed legislatio...
The policymakers in Texas have proposed an exclusive innovation with which the crypto industry could get revolutionized. They have suggested the development of a digital currency that would be backed by the well-known precious metal Gold’s market value. In this daring step, similar bills have b...
As if we needed to be reminded that news from faraway, third-world countries hit close to home these days, Texas is likewise proceeding with its gold-backed digital currency. From what we know, it’s a copy of the Zimbabwe model – with all the drawbacks I just mentioned.Since the U....
On May 2, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies.Enactment of this legislation would create an option for people to conduct business in sound money, set the stage to undermine the Federal Reserve’s monopoly on...
We expect China to continue to be a buyer as they add to their official reserves and seek to internationalize the renminbi, including making it a central bank backed digital currency that would lessen dollar hegemony. Although gold miners’ shares have performed well, they remain underowned and ...
A Prior Fed Chair Admitted Gold's Competition with Dollar; Powell Lies December 30th, 2024 Proposed Texas Bill Would Create State-Issued Gold and Silver-Backed Transactional Currencies December 29th, 2024 Treasury Yields Are Spiking Despite Fed Rate Cuts and That's a Problem for Uncle Sam ...
Zimbabwe's latest currency, the ZiG, is backed by gold and foreign exchange reserves, and has been launched amid hopes of stabilising the economy and reining in inflation. Yet, amid public scepticism and the risk of overprinting, it remains to be seen whether the ZiG will be successful or ...
are not backed by a commodity such as gold. This means they can depreciate rapidly due to government actions such as excessive money printing. These actions sometimes lead to hyperinflation, where the currency's purchasing power plummets. Gold, in stark contrast, maintains its worth even through...
Additional IRS-approved depositories used by American Hartford Gold can be found in Texas, New York, and Los Angeles. The depositories utilized by American Hartford Gold, such as the Delaware Depository, are equipped with round-the-clock security to ensure the safekeeping of precious metals. ...