Restore Sound Money in Minnesota with HF 106

Members of the Minnesota Legislature are seeking to enact legislation helping to restore sound money.

House File No. 106 (HF 106) is sponsored by Representatives Bjorn Olson (R-Elmore) and Natalie Zeleznikar (R-Fredenberg Township).

If enacted, HF 106 would create a sales-tax exemption for bullion “coins and currency,” expanding an existing exemption for precious metals. This is an important step toward treating gold and silver as money — as the U.S. Constitution requires.

Article I, Section 10, of the U.S. Constitution plainly states that “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” It’s long overdue that states begin to enforce this provision once again. According to the Sound Money Index, Minnesota is the fourth-least constitutionally compliant state on monetary policy. Enacting HF 106 would be a good first step toward adhering to the U.S. Constitution.

Additionally, HF 106 is a good step toward nullifying the unconstitutional Federal Reserve, which has a monopoly on money.

Article VI of the U.S. Constitution obligates state officials to uphold the Constitution and nullify all laws not “made in Pursuance” of it. Officials at all levels of government must push back against the federal government’s many unconstitutional laws and agencies, and robustly enforce the Constitution and only those laws “made in Pursuance thereof.” HF 106 is a good step toward doing this on the topic of monetary policy.

Urge your state representative and senator to support HF 106, and to fully restore sound money in Minnesota.