Sponsor urges 1% state investment in gold and silver; treasurer cites cost, security and liquidity trade-offs

Representative Dan Johnson, District 24, presented House Bill 1183 to the Industry, Business and Labor Committee, saying the bill "seeks to mandate that the state treasurer invest at least 1% of the general fund into gold and silver bullion."

The bill would require the state treasurer to hold a minimum allocation of physical gold and silver as a partial hedge against inflation and systemic risks, and it would authorize a study of how precious metals could "augment and protect the state of North Dakota, its economy, and its citizens," the sponsor said.

JP Cortez, executive director of the Sound Money Defense League, testified in support and told the committee that the proposal is a modest, state-level step against what he called federal monetary risks: "Gold is an inflation…