Where Can We Use Sound Money?
Until gold and silver coin is reinstated as legal currency, it is prone to continue to be relegated to collector's display cases and safety deposit boxes. Capital gains, property and sales taxes all continue to pose real impediments to the use of specie as a viable medium of exchange. Also, the lack of a workable commercial infrastructure to facilitate specie transactions hinders the day to day use of sound money.
Because of the co-dependent relationship between Congress and the Federal Reserve, the likelihood of any sound money reform coming out of Washington is remote indeed. Individual states, exercising their sovereign authority, are best equipped to restore sound money to its prior status as a trading currency. So look for a sound money come back on a state by state basis. It makes sense to first support states that are well positioned to make sound money a reality today. Then as the movement gains momentum, reluctant jurisdictions will see the advantages of embracing sound monetary systems.