In 1933, President Franklin D. Roosevelt signed the Gold Reserve Act, prohibiting private ownership of gold coins and gold exchange notes. However, on May 27 this year, Florida Governor Ron DeSantis signed a new bill allowing residents to use gold and silver in everyday transactions, signaling a potential return to the gold standard era in the United States.

DeSantis stated that this move aims to protect Floridians from the devaluation of the dollar, highlighting that precious metals serve as a hedge against dollar depreciation. The bill permits the use of gold coins and silver coins that meet specific purity standards for payments, making Florida the first state in the U.S. to enact such a law.

He emphasized that the legislation stems from the U.S. Constitution, thereby authorizing payment service providers, such as check cashing businesses or PayPal, to accept gold and silver as payment. This measure is voluntary, offering opportunities that can lead to economic stability and protection for taxpayers, positioning Florida as a model of the gold standard in terms of economic freedom and opportunity.