As the U.S. debt crisis worsens, Florida begins to "stab" the dollar.

According to Fox News, on May 27 local time, Florida Governor Ron DeSantis signed a bill officially recognizing gold and silver as legal tender in the state, aiming to establish a complete legal framework for precious metal currency. The bill requires check-cashing institutions and payment service providers such as PayPal to accept payments in gold and silver, and exempts sales tax for gold and silver coins that meet standards.

From July 1, 2025, all circulating gold and silver coins must be marked with weight, purity, and minting origin. Enterprises and government agencies can accept payments of precious metals through electronic transfers or debit cards.

DeSantis emphasized: "This means these precious metals can once again begin to function like real currency, rather than just investment tools for the rich."

The driving force behind "de-dollarization": purchasing power has plummeted by 90%

Doug Bankson, the sponsor of the bill and a Republican state representative, pointed out that since the decoupling of the dollar from gold in 1971, the purchasing power of the dollar has decreased by more than 90%.

He used real estate as an example: In 1979, a property worth $75,000 needed to be purchased with 268 ounces of gold, while today's equivalent property is priced at $531,000 but still corresponds to the same amount of gold. DeSantis emphasized that the value of gold has tripled since 2015, while the dollar continues to depreciate due to inflation. He said this move would provide the public with financial freedom against devaluation.

Although the bill grants legal tender status to precious metals, practical operations face challenges. Marc Bonnett, owner of a Tampa Bay precious metals store, pointed out that the market is full of counterfeit gold and silver, and merchants need professionals to verify purity and value in real time. The bill requires the Chief Financial Officer of Florida and the Financial Services Committee to submit a report on implementation rules by November 1, and the final plan needs to be approved by the legislative body, fully taking effect on July 1, 2026.

Political博弈: DeSantis' "Gold Standard" Card

During the signing ceremony of the bill, DeSantis did not forget to criticize the spending behavior of the federal government, comparing Musk-led government efficiency departments (DOGE) efforts to "fighting swamps." He said bluntly: "At the end of May, Congress hasn't cut a penny of DOGE! DOGE is fighting swamps, so far the swamp has won."

This statement exposed DeSantis' true intentions: against the backdrop of loose federal fiscal discipline, he sought to highlight his "fiscal conservatism" stance by competing for monetary sovereignty at the state level. DeSantis claimed that Florida was the first large state to offer such choices, clearly considering it an important part of his political resume.

The bill cited a clause of Article I of the U.S. Constitution. This clause prohibits states from minting money but allows them to "use gold and silver coins as means of repayment within the state," including taxes. Although the actual usage scenarios are limited, its symbolic significance may help DeSantis accumulate political capital. (International Finance News)

Original source: https://www.toutiao.com/article/7509306653188162085/

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