Arkansas, Oklahoma Advance Bills for Gold as Currency

Oklahoma and Arkansas are advancing legislation that would allow gold and silver to be used as legal tender for everyday transactions, mirroring cash and debit card usage. In Oklahoma, bipartisan-supported bills would create a state-run depository enabling residents to use debit cards linked to their gold and silver holdings, and eliminate capital gains tax on such metals. These measures are seen by supporters as providing more financial options for citizens and protection against inflation. Arkansas's legislature has also approved a bill to store gold and silver in a state depository as backing for electronic transactions, with the state poised to become the first to formally accept precious metals as electronic state currency if Governor Sarah Huckabee Sanders signs the bill. Proponents in both states argue these moves offer economic stability amid concerns over the declining value of the U.S. dollar. Similar legislative efforts are underway in other states, suggesting a broader trend towards mainstream acceptance of precious metals in financial systems.