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House Commerce debate on gold-and-silver currency stalls; bill deferred after questions, amendment adopted
Summary
Lawmakers spent more than two hours probing House Bill 386, which would create a state-backed platform to let banks and credit unions offer transactional gold and silver accounts. An amendment clarifying collateral use was adopted, but the full bill was voluntarily deferred for further work.
Representative Jason Cruz introduced House Bill 386, saying the measure would create a state‑monitored framework to let banks and credit unions offer accounts that use gold and silver as the store of value for transactions. "This bill provides an incredible opportunity for the state of Louisiana," Cruz said in committee, describing the idea as "just another way to pay" that attaches debit‑card convenience to bullion held in an approved depository.
Supporters including Mike Carter of the National Security Investment Consultant Institute told the committee the proposal would expand access to a perceived hedge against inflation and argued state backing would create consumer trust. "Having the state behind this, having the financial institutions overseeing part of this,…
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