by Jp Cortez
GoldSeek
Boise, Idaho (February 11, 2021) — The Idaho State House today overwhelmingly approved a bill which enables the State Treasurer to protect state reserve funds from inflation and financial risk by holding physical gold and silver.
State representatives voted 51-19 to pass House Bill 7, the Idaho Sound Money Reserves bill, sending the measure introduced by Representative Ron Nate (R-Rexburg) and Assistant Senate Majority Leader Steve Vick (R-Dalton Gardens) to the Senate for a hearing.
Backed by the Sound Money Defense League and others, HB 7 would permit – but not require – the State Treasurer to hold some portion of state funds in physical gold and silver to help secure state assets against the risks of inflation and financial turmoil and/or to achieve capital gains as measured in Federal Reserve Notes.