open dyslexic mode

We might be on the cusp of a Florida "Gold Rush" if CS/HB 999 passes.
Not because there's any "gold in them thar hills" but because people might start racing to deposit their silver and their gold in Florida depositories if the latest bill passes.

State supervised depositories, (which the bill mentions), could form the backbone for safe and secure reserves of specie held in the Sunshine State and this could make Florida a financial haven (similar to Switzerland).

Largely this is because it's not just about holding the shiny stuff -- it's also about making it legal tender for all debts (including those owed to government). Florida is set to recognize gold and silver as currency that can be used to pay taxes and anything else a seller is willing to accept gold and silver for. Government acceptance of specie is the biggest Lynch-pin in a specie based system because it Government is the 'highest buyer' -- everyone pays the government no matter what. As such, if you can pay your tax-debt with a silver coin, you might be more inclined to accept that silver coin in payment for your goods or services.

The bill also creates the framework for depositories - facilities that hold the precious metals - and sets other rules related to what metals would be tax exempt.

If it passes, the law could have a huge positive impact on the Florida economy. Both by linking it to a sound currency and by attracting foreign investments.

As proposed the bill wouldn’t force anyone to accept metals and the final framework for oversight of depositories has not been completed.

However, the future for gold and silver bugs is looking very bright in the Sunshine state.

Would you use gold and silver to buy things in Florida?