The creation of state-issued gold-backed and silver-backed digital currencies would create currency competition with Federal Reserve notes and undermine the Fed’s monopoly on money. It would also provide a sound money-backed competitor if the Federal Reserve implements a central bank digital currency.

Broadly speaking, by making gold and silver conveniently available for regular, daily transactions by the general public, gold and silver-backed digital currency would create the potential for a wide-reaching effect. Professor William Greene, an expert on constitutional tender, said in a paper for the Mises Institute that when people in multiple states actually start using gold instead of Federal Reserve notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.

Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).

“As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.”

https://schiffgold.com/key-gold-news/texas-committee-passes-bill-to-create-100-reserve-gold-and-silver-backed-transactional-currencies/

Thanks Daryl…WOW

I keep telling you guys…WE HAVE BRILLIANCE AND PASSION AND INGENUITY AND HONESTY AND DECENCY ON OUR SIDE….AND THEY HAVE EVIL

GUESS WHO WINS