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A bill filed in the Oklahoma Senate would set the stage for Oklahoma residents to make everyday purchases using gold and silver stored in the Texas State Bullion Depository. The passage of this legislation would facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money.
A bill filed in the Oklahoma House would eliminate state capital gains taxes on gold and silver specie, and clarify the definition of gold and silver as legal tender in the state.
In 2014, Oklahoma took the first step and declared Gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. That bill also expanded the sales tax exemption on gold and silver. SB1507 would improve and clarify the definition of specie legal tender.
This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money.
The legislation would establish "specie" as legal tender in the state, making it receivable in payment of all public and private debts contracted for in the state of Montana.