Goldback Celebrates National Policy Milestone: Three Sound Money Model Bills Clear  Rigorous Multi-State Review

Goldback Inc. has achieved a milestone with the American Legislative Exchange Council (ALEC) approving three model bills designed to advance sound money and consumer monetary choice. Supported by a first-of-its-kind coalition of sound money and industry advocates and spearheaded by South Carolina Representative Jordan Pace, these policies provide tools for citizens to treat gold and silver as local currency and hedge against inflation.

The achievement marks a massive step forward in providing everyday consumers with a victory for monetary choice, allowing them to treat gold and silver as money again and to navigate the federal monetary policy challenge.

Passing the Gauntlet

Earning model policy status is notoriously difficult. To pass, proposals must survive a rigorous, multi-layered gauntlet of debates, amendments, and votes cast by state legislators from all across the country. ALEC also provides private entities a voice and separate vote in these debates, meaning the proposals also withstood the scrutiny of traditional banking, credit union, financial services and other private sector stakeholders. The fact that all three Goldback- supported proposals emerged with virtually no resistance is a testament to the common sense power of free-market solutions.

“This model policy process is a true crucible for legislative ideas,” said Kim Coleman, Director of Strategic Relations for Goldback, Inc. “Every word is scrutinized by lawmakers who want to ensure that policies will benefit their states and constituents back home and are firm on the principle of limiting government intrusion in the free market.. Passage of these three  proposals demonstrates  that the use of gold and silver as legal tender is not a long lost concept; it is a reemerging mainstream priority for state leaders.”

A Collaborative Triumph

The initiative was championed by South Carolina Representative Jordan Pace, who recognized the necessity of alternative currency protections long before the draft models were presented. Supported by a robust and committed coalition of legislative co-sponsors, the policies enjoyed broad enthusiasm for their ability to protect citizen purchasing power without expanding government size, cost or intrusion.

The newly minted model policies focus on removing barriers to using gold and silver as money again. To view the model policies, see the links below:

• The Specie Legal Tender Act 
• The Income and Sales Tax Exemptions for Precious Metals Act 
• The Sales Tax Exemption for Purchase of Precious Metals 

The Road Ahead: State-by-State Implementation

With the national endorsement, Goldback and its industry allies are shifting focus to collaborating with state lawmakers nationwide to introduce these policies in upcoming state legislative sessions.

“Getting through the multi-state vetting was an important first step,” Coleman added. “Step two is getting these bills rolling in individual statehouses. We stand ready to help lawmakers across the United States bring true financial freedom, inflation protection, and transactional choice straight to their constituents.”