Nebraska Ends Income Taxes On Gold And Silver, Declares CBDC’s Are Not Lawful Money

tincup

Just signed into law? Interesting part about the CBDC's:

"Sen. Hansen said: “I believe we have to be extra vigilant in our assessment and application of a Central bank digital currency to make sure they do not become a danger to our freedom. That’s why we defined in LB 1317 that CBDC’s are not classified as currency in Nebraska, which should help protect against unwarranted mandates for their use in the future.”

Versions of this “anti-CBDC language” have advanced or signed into law in Tennessee, North Carolina, and Florida, South Dakota, and Indiana . Congressman Alex Mooney has also introduced a federal measure to block the Federal Reserve’s digital currency scheme."

MsMorrisine

i find the anti-cbdc law hopeful. i can't see the hate stateof ct passing such a law, but who knows, maybe they hopefully will.

MsMorrisine

https://www.law.cornell.edu/uscode/text/31/5103#:~:text=United States coins and currency,not legal tender for debts.

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

MsMorrisine

i'm wondering if congress passes a law making cbdc legal tender that it would override state laws

tincup

That's what I was wondering also.... Fed law is supposed to be higher than the state law. Sounds like there could be some showdowns if the federal government puts cbdc in place.

derryb

Eight states have now taken a stand against CBDCs

derryb

U.S. House Passes Bill Banning Federal Reserve From Issuing a CBDC

The bill's prospects in the Senate are unclear, however.

MsMorrisine

The U.S. House of Representatives voted largely along party lines to prevent the Federal Reserve from issuing a central bank digital currency.

omg

a ban would block public sector innovation and research.

wth

tincup

Interesting.... but I doubt the bill will pass the Senate. But there will likely come a time where the Feds and the states will have a face off with the digital currency.