By James Sweet III | WYOMING
The recent actions of the State of Wyoming have shown that fiscal freedom is not dead in the United States. The Cowboy State’s Wyoming Legal Tender Act and Senate Bill 111 have shown that the state is dedicated to breaking the hold of the Federal Reserve and bringing greater economic freedom to the people.
The Wyoming Legal Tender Act, which was approved by the Wyoming Senate and House and made into law without the Governor’s signature, works a miracle, and removes all taxes on silver and gold. The new law also allows gold and silver specie to be used as legal tender in the state, allowing them to be used to pay off debts and taxes. The law defines gold and silver specie as “coin having gold or silver content; or Refined gold or silver bullion which is coined, stamped or imprinted with its weight and purity and valued primarily based on its metal content and not its form”.
Wyoming Senate Bill 111, if signed into law, would exempt “virtual currencies” from property taxes. The bill was passed by both the House and the Senate, although has yet to become law.
Could the Cowboy State become a bustling center for economic activity due to its new approach? It’s quite possible, but only time will tell if crypto and gold can transform the state from ranches and plains to GPU farms and businesses.