Hoping to pass more sound money legislation, Wyoming legislators and Wyoming Campaign for Liberty are working on new bills for 2019 that would begin to secure the state’s finances with an allocation to physical precious metals.
Wyoming’s state pension and reserve funds are among the most well-funded accounts in the nation, but because of their exposure to dollar-based investments, these funds are subject to significant risks. Securities, bonds, stocks, and other dollar-denominated assets carry high counter-party, inflation, and interest-rate risks.
To hedge against these risks, a group of Wyoming legislators want the state treasurer to allocate 10 percent of these funds in physical gold and silver. With Wyoming's legislative session due to begin on January 8, 2019, these efforts will be assisted by members of Wyoming Campaign for Liberty and additional sound money organizations.
Tags: Competing Currencies, Sound Money, legal tender, precious metals