Multiple Texas Bills Look to Challenge Fiat Currency

Two Texas bills filed by state Rep. Mark Dorazio, HB1049 and HB1056, propose creating gold and silver-backed transactional currencies as legal tender in the state.

These bills would require the Texas Comptroller to issue these currencies through the Texas Bullion Depository, ensuring full backing by gold and silver. The bills aim to offer an alternative to the U.S. dollar, allowing for both physical and electronic transactions using gold and silver.

This will challenge the Federal Reserve’s monopoly on money by facilitating everyday use of sound money over fiat money, potentially driving Federal Reserve notes out of circulation.

We’ll be keeping an eye on both these bills as they make their way to the House committees on January 14th when the legislative session begins.

Capitol Building, Austin-Texas