✔️ HB206
Establish a transactional currency based on gold and silver
Current Status: In House Committee (Financial Institutions)
Summary
The bill establishes a transactional currency based on gold and silver, which will be issued by the treasurer of state and can be used as legal tender. It requires the establishment of a bullion depository to hold the precious metals and outlines the process for individuals or states to purchase and redeem this currency. The bill also includes provisions for fees associated with the issuance and redemption of the currency.
Rationale
The bill aligns with the Libertarian Party's support for monetary policy that includes gold and silver as legal tender, reflecting a commitment to individual choice in currency. The Libertarian Party of Ohio explicitly advocates for the restoration of gold and silver as legal tender, which the bill directly supports.
Risks and Concerns
- Potential for increased government control over currency
- Dependency on state-managed bullion depositories