{"id":140506,"date":"2019-01-22T11:01:07","date_gmt":"2019-01-22T16:01:07","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140506"},"modified":"2019-01-22T11:01:07","modified_gmt":"2019-01-22T16:01:07","slug":"arizona-legislator-proposes-securing-state-reserves-with-gold-and-silver","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/arizona-legislator-proposes-securing-state-reserves-with-gold-and-silver\/","title":{"rendered":"Arizona Legislator Proposes Securing State Reserves with Gold and Silver"},"content":{"rendered":"
January 22, 2019<\/div>
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By Money Metals News Service<\/b><\/p>\n

Phoenix, Arizona (January 22, 2019) –<\/strong> An Arizona legislator has put forward a bill to de-risk the state’s financial holdings with a modest allocation to physical gold and silver in the state’s reserve fund.<\/p>\n

Introduced by Representative Mark Finchem (R-Tucson), the Arizona Sound Money Stabilization Act (HB 2500<\/a>) requires that at least 10% of Arizona’s Budget Stabilization Fund be held in the monetary metals in a secure depository.<\/p>\n

Arizona’s Budget Stabilization Fund has almost $500 million in assets but is currently invested in debt instruments and the stock market. The state owns no gold or silver.<\/p>\n

Finchem’s past sound money initiatives have been successful. In 2017, Rep. Finchem passed the ground-breaking House Bill 2014<\/a>, a measure which removed all income taxation of gold and silver at the state level.<\/p>\n

Gold and silver do not have the default or inflation risks that bonds and other “fixed income” investments carry. Most importantly, physical gold and silver held in a depository carry no counterparty risk – or risk of failure or default – unlike stocks, bonds, and other financial assets.<\/p>

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In support of the measure, Rep. Finchem said, “it’s high time to safeguard the state’s assets and taxpayers against the volatile dollar.”<\/p>\n

Furthermore, an allocation to precious metals is proven to increase overall returns over time, reduce volatility, and reduce drawdowns.<\/p>\n

Backed by the Sound Money Defense League<\/a>, this measure protects Arizona’s rainy day fund by including the only money proven to protect against the Federal Reserve Note’s ongoing devaluation.<\/p>\n

Arizona’s Sound Money Stabilization Act comes on the heels of three sound money bills<\/a> introduced in Wyoming last week.<\/p>\n

Concerned that state investments have no protection against a stock market crash, credit crisis, or other existential financial risks, Wyoming legislators want a small portion of Wyoming’s pension fund, reserve fund, and mineral trust fund allocated to physical gold and silver held in a depository within (or near) the Cowboy State.<\/p>\n<\/p>\n

The Sound Money Defense League is a public policy group working nationally to bring back gold and silver as America’s constitutional money and publisher of the Sound Money Index<\/a>. For comment or more information, call 1-208-577-2225 or email jp.cortez@soundmoneydefense.org.<\/em><\/p>\n

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The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Money Metals News Service Phoenix, Arizona (January 22, 2019) – An Arizona legislator has put forward a bill to de-risk the state’s financial holdings with a modest allocation to physical gold and silver in the state’s reserve fund. Introduced by Representative Mark Finchem (R-Tucson), the Arizona Sound Money Stabilization Act (HB 2500) requires that […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-140506","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=140506"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140506\/revisions"}],"predecessor-version":[{"id":140507,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140506\/revisions\/140507"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=140506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=140506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=140506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}