Below is a statement from Money Metals president Stefan Gleason on the defeat of Sound Money legislation in the Wyoming House on March 1st:
The House Revenue Committee, led by Rep. Steve Harshman, eviscerated SF 101 and turned it into a dead letter requiring nothing whatsoever -- while laughably extending the deadline to do nothing to 2025. The Harshman amendments made a mockery of Sen. Bob Ide's sound money bill, effectively killing it.
Rep. Mark Jennings attempted to save SF 101 on the House floor. By stipulating the State of Wyoming must, at long last, own at least some gold or silver, Rep. Jennings' proposed compromise amendment would have ensured that Wyoming takes at least one baby step forward on sound money. Unfortunately, the Jennings amendment failed by a vote of 34-27.
Those who defeated the Jennings amendment did so because they outright oppose sound money -- and do not mind (or realize) that Wyoming is today a sitting duck, with limited ability to protect itself against the inflation and financial instability caused by central bankers and tax-and-spend politicians in Washington DC.
In recent years, the State of Wyoming has lost hundreds of millions of dollars on investments in emerging market debt, i.e. loans to Third World countries, yet it still does not own a single ounce of constitutional, sound money!
The recorded vote on the key Jennings amendment will be useful going forward because it revealed there are now 27 Wyoming House members who support sound money -- but 34 who do not (and we know exactly who they are)!
About the Author:
Stefan Gleason is CEO of Money Metals Exchange, the company recently named "Best Overall Online Precious Metals Dealer" by Investopedia. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC and in hundreds of publications such as the Wall Street Journal, TheStreet, and Seeking Alpha.
