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In the U.S. state of Wyoming, there are three new bills Submitted to include gold by default in various collective investment funds. With a new bill called the 'Wyoming Sound Money Trust Act' (HB174) it wants to oblige the authorities to invest ten percent of the mining fund's assets in physical bullion by default. This public fund manages more than $8 billion in assets amassed by the mining sector.
Another bill, the Wyoming Sound Money Pension Act (HB156) seeks to achieve the same objective with the public pension fund. Initiator Mark Jennings wants the fund to hold 10% of its assets in precious metals by default. And then there's a third bill, called the Wyoming Sound Money Reserve Act (HB190). This bill is intended to ensure that the state's Stabilization Reserve Account also holds ten percent in gold and silver by default.
The initiators of these three bills are of the opinion that the state should diversify more. By investing part of one's assets in precious metals, one can better protect oneself against inflation and stock market setbacks. The proponents also point out that precious metals have no counterparty risk, unlike bonds, for example.
Figures from the World Gold Council show that gold has little correlation with other types of investments. That makes the precious metal very suitable diversification, both for private and public investment funds.
Last year in Wyoming, the Legal Tender Act (HB103), giving gold and silver legal tender status. It also removed all taxes on these precious metals. As a result, gold and silver coins can be treated in the same way as the US dollar. As of 1 July 2018, it will be possible to Buy gold and selling.
Gold and silver are already recognized as legal tender in several U.S. states. Precious metals are especially popular in the states in the middle of the United States. Gold and Silver Coins are seen there as a form of freedom and as protection of assets against inflation.
Several U.S. states treat gold and silver as legal tender
