By Money Metals News Service
Utah, Texas, and Wyoming Top 2018’s “Sound Money Index”
New Jersey, Kentucky, Vermont and 3 Other States Declared Biggest Enemies of Sound Money
Utah, Texas, and Wyoming round out the top three most sound money-friendly states in the United States according to the 2018 Sound Money Index, released today by the Sound Money Defense League and Money Metals Exchange.
The 2018 Sound Money Index is the first index of its kind, ranking all 50 states using 9 indicators to determine which states have implemented the most pro-sound money policies in the country.
Federal policy and the privately owned Federal Reserve System are the root causes of inflation, instability, and currency devaluation. However, states can take some steps to protect their citizens from the ill effects of America’s unbacked paper money system.
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“The Sound Money Index tracks the state of sound money in the United States. While no state has yet achieved a score higher than 63%, many have made progress by removing taxation on gold and silver, passing laws that reaffirm that gold & silver are money, and establishing bullion depositories,” said Jp Cortez, Policy Director at the Sound Money Defense League.
“Utah, Texas, and Wyoming lead the pack, but several states are not far behind. Legislatures in Arizona, Alabama, and North Carolina, to name a few, have passed good legislation recently. We expect this trend to continue,” says Cortez.
Texas ranks as the second most sound money-friendly state with a combination of pro-sound money tax policies, a state bullion depository, and even holding some of its public pension funds in physical gold bullion.
More than 75% of states have at least partially removed sales tax from gold and silver, while only 12 states still levy full sales tax against constitutional money. A few states have also removed income tax from the monetary metals.
“States that eliminate the disincentives to holding and using sound money are helping their citizens protect against the harmful effects of the Federal Reserve’s unbacked ‘fake money’ system and honoring the U.S. Constitution,” said Stefan Gleason, President of Money Metals Exchange.
Best 6 states for sound money:
-Utah – 63.16%
-Texas – 58.82%
-Wyoming – 57.89%
-Arizona – 47.37%
-South Dakota – 47.06%
-Oklahoma – 42.11%
Worst 6 states for sound money:
-Arkansas – 0%
-Kentucky – 0%
-Maine – 0%
-New Jersey – 0%
-Vermont – 0%
-West Virginia – 0%
The complete 2018 Sound Money Index is available here: https://www.moneymetals.com/guides/sound-money-index
The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.
