States continue to pass measures that chip away at the Federal Reserve’s monopoly on money by facilitating and encouraging the use of gold and silver.
Under a bill recently signed into law by North Carolina Gov. Roy Cooper signed a bill into law investors will no longer have to pay state sales taxes when they buy gold and silver. The new law removes an important roadblock in the way of their everyday use as money, taking the first step toward breaking the Federal Reserve’s monopoly. With the governor’s signature, the law went into effect retroactively to July 1, 2017.
A month earlier, Louisiana Gov. John Bel Edwards signed a similar bill into law that went into immediate effect.
While repealing state sales taxes on precious metals may seem like a relatively small step, it removes one barrier to owning gold and silver and eliminates a penalty on the use of sound money.