BRÈVE

sur Sound Money Defense League

Idaho Governor Vetoes Bill to Allow Gold and Silver in State Reserves

Idaho Governor Brad Little vetoed Senate Bill 1314, which would have authorized the Idaho State Treasurer to diversify state reserve funds with physical gold and silver. The bill, supported by Sen. Phil Hart and Rep. Barbara Ehardt, aimed to mitigate financial risks such as inflation and debt default. Despite passing both the Idaho State Senate and House, Gov. Little's decision leaves the state's reserves exposed to potential financial instability, underscoring a critical moment for the local mining industry and investors.

The proposed legislation intended to allocate up to 7.5% of state funds into secure gold and silver holdings. This move, supported by the Sound Money Defense League and numerous state activists, was seen as a strategic hedge against the deteriorating real value of traditional debt investments. Other states like Utah and Tennessee have embraced similar measures to fortify their financial reserves against inflation and market downturns, highlighting Idaho's contrasting stance under Gov. Little.

With Idaho's almost $10 billion in reserve funds currently invested in non-inflation hedged debt instruments, critics argue that the veto disregards both historical and practical financial wisdom. The bill's rejection also underscores Idaho's conservative positioning on the Sound Money Index, where neighboring states rank higher for embracing precious metals to safeguard economic stability.

R. P.

Copyright © 2024 FinanzWire, tous droits de reproduction et de représentation réservés.
Clause de non responsabilité : bien que puisées aux meilleures sources, les informations et analyses diffusées par FinanzWire sont fournies à titre indicatif et ne constituent en aucune manière une incitation à prendre position sur les marchés financiers.

Cliquez ici pour consulter le communiqué de presse ayant servi de base à la rédaction de cette brève

Voir toutes les actualités de Sound Money Defense League