State legislative initiatives are an important part of the movement to reestablish gold and silver as legal tender in the U.S., but educating the public and encouraging them to use gold and silver is equally important.
Legislative efforts continue to gain momentum in state legislatures across the country. Last year, three states passed bills that repeal taxes on the sale of gold and silver bullion. This will encourage their use and takes the first step toward breaking the Federal Reserve’s monopoly on money. On the education front, a national precious metals dealer has selected four outstanding students to receive tuition assistance from America’s first gold-backed scholarship fund.
Beginning last year, Money Metals Exchange, a national precious metals dealer recently ranked “Best in the USA,” teamed up with the Sound Money Defense League and well known members of academia and freedom-minded non-profits to offer the first gold-backed scholarship of the modern era.
The groups set aside 100 ounces of physical gold to reward outstanding students who display a thorough understanding of monetary policy, sound money, and the damage caused by the Federal Reserve system.
First place ($2,000): Nikhil Sridhar, Duke University
Second place ($1,000): Joseph Shamp, University of Louisiana at Lafayette
First place ($2,000): Louis Rouanet, George Mason University
Second place ($1,000): Rania Al-Bawwab, Texas Tech University
Additionally, the essay written by Joseph Shamp of University of Louisiana at Lafayette attracted the most online readers, and therefore Shamp also won $500 for the People’s Choice Award.
Money Metals Exchange thanked its blue-ribbon panel of judges:
Dr. Lucas Engelhardt, Kent State University
Dr. Wolf von Laer, Students For Liberty
Dr. Robert Murphy, Free Market Institute at Texas Tech
Dr. Mark Thornton, Mises Institute
Over the last two years, over 200 applicants representing more than 140 different schools, 39 states, 4 countries, and 2 continents. Students everywhere are waking up to the ongoing devaluation of the Federal Reserve Note — commonly referred to as the “dollar” – that jeopardizes their saving power, and ultimately, their future prosperity.
“Our scholarship gives students the opportunity to display their understanding of sound money while lessening the burden of the significantly inflated costs associated with attending college,” Sound Money Defense League assistant director Jp Cortez said. “We’ve had excellent participation over the last two years and we expect that trend to continue.”