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Maine Bill Would Authorize the Investment of State Funds in Gold and Silver

The proposed law would authorize the Maine State Treasurer to invest state funds located in the Maine Budget Stabilization Fund under chapter 142 and any pension fund administered by the treasury in gold, silver, or other precious metals. In effect, holding gold and silver would help secure state assets against the risks of inflation and financial turmoil. It would also reinforce the importance of sound money in the state's financial system.
United States Eric Brakey William Greene Federal Reserve Maine Senate Mises Institute

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Maine Bill Would Take Steps Toward Treating Gold and Silver as Money

The legislation would make gold and silver in coin or bar form legal tender for all transactions as long as the buyer and seller agree as to the fair market value of the metal. The bill would also exempt the sale of gold and silver legal tender from the state sales and use tax.
United States Ron Paul Eric Brakey William Greene United Precious Metals Association Mises Institute

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