People in this nation continue to awaken to the reality that our economic problems have a fundamental cause. That is, nearly a hundred years of unsound monetary policies enabled by an unsound monetary system and controlled by an unsound (unethical) entity known as the Federal Reserve. Several states have moved to take back control of their economic well-being by doing something quite simple – saying “no” to the currency monopoly enjoyed by Federal Reserve Notes.
Utah led the way by passing HB317 in March of 2011. Now, Washington state has joined them by introducing sound money legislation of their own. Washington’s sound money bill is HB2731. The preamble to the Washington bill states:
“The legislature finds that to secure property rights sound money is essential. Gold and silver currency retains earned wealth in the hands of the people and has provided civil societies with a fair, honest, and reliable medium of exchange for over six thousand years. Competitive currencies of gold and silver provide greater security to the people of Washington state in protecting their property and other assets from paper currency inflation.”
Rep. Matt Shea indicated that initial response to the bill has been positive. After all, he said, “Sound money is freedom.”
Sound money bills at the state level will continue to strengthen the position of state sovereignty by giving citizens of the states who adopt sound money legislation a choice in currency. Ensuring the long term purchasing power of a citizen’s money should be a top priority for those called to serve in state houses around the country.
Furthermore, during this time of continued global economic instability, state sound money laws produce tremendous economic benefits. Not only does real capital flow into “sound money” states in the form of gold and silver (ask Utah), but using gold and silver as currency opens the door to economic development by establishing relationships with other states and nations which produce this traditional currency.
Several other states are set to introduce sound money legislation in the days and weeks to come, including Missouri and South Carolina. If you are in a state where sound money legislation is introduced, please contact your representatives and give it your full support. We cannot be free without economic freedom, and economic freedom is not possible with a monopolistic fiat currency.
For more information on this and to keep track of the progress of sound money, visit The 10th Amendment Center’s Legislative Tracking Page and the Sound Money Center