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Representative proposes study and small state gold reserve; opponents cite flexibility and investment governance concerns
Summary
Representative Dan Johnston introduced legislation directing the state treasurer to study and (after a delay) place at least 1% of the treasury in gold and silver; supporters argued it hedges inflation and preserves purchasing power, while opponents warned legislative mandates can reduce investment flexibility.
Bismarck — Representative Dan Johnston told the Senate Industry and Business Committee that House Bill 11‑83 would direct the state treasurer to study and, after the study period, acquire at least 1 percent of the state’s treasury holdings in gold and silver bullions as a strategic reserve.
Johnston framed the proposal as a hedge against inflation and a diversification tool in an era of growing global demand for physical bullion, citing recent enactments in other states and central‑bank purchases abroad. “Gold ensures solvency when fiat currency fails,” he said, adding that the bill would allow the treasurer to use insured, audited private vaults or exchange‑traded funds backed by bullion and that the bill’s effective date would follow a…
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