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Montana's Sound Money Bill

03/23/2009

Montana's representatives have passed a sound money bill through the state's House.  The bill would allow gold currency to compete with Federal Reserve Notes in the state.  The bill reads, "the state may not require but shall allow a person to recognize, receive, pay out, deliver, promise to pay, or otherwise use or employ gold and silver coin or electronic gold currency as media of exchange."

It looks like this bill allows folks in Montana to use gold and silver as currency for just about everything and offers most receivers of state money to take their payments in gold.  It'll be interesting to see how this plays out.  The ability to use non-fiat currencies, especially after recent action from the Fed, should serve as an excellent hedge against inflation.