Monday, August 4

On October 16, 2024, Jp Cortez, the executive director of the Sound Money Defense League, participated in a discussion with Jon Forrest Little on the program SilverWars. The conversation highlighted the increasing movement across several states to eliminate the taxation on gold and silver, emphasizing the importance of grassroots advocacy in effecting significant legislative changes. Cortez outlined how local activism is key to the Sound Money Defense League’s success, particularly as it relates to the efforts of Money Metals Exchange’s customers who are active in the promotion of sound money policies at the state level.

Cortez detailed the recent public policy accomplishments achieved through the efforts of Money Metals and the Sound Money Defense League, focusing on initiatives aimed at removing sales taxes from precious metal transactions. These strategic efforts have resulted in a series of legislative victories that demonstrate the power of grassroots activism. Notably, states like Louisiana, Alabama, and New Jersey have enacted sound money legislation, contributing to the overall momentum that the League has harnessed over a decade of advocacy, during which seven states have passed pro-sound money laws.

One of the critical points raised was the paradox of public engagement in local governance. Cortez noted that, although local policies significantly impact citizens, many individuals tend to overlook local elections in favor of national politics. This disconnect has negative implications for the advancement of sound money initiatives, which require robust local support to gain traction. Engaging the public toward grassroots activism is crucial in addressing this issue and mobilizing community involvement in legislative efforts.

Cortez emphasized that grassroots advocacy is essential for promoting sound monetary policies, as meaningful change often begins at the local level. Education and public awareness about the benefits of sound money are vital components of this advocacy work. The discussion pointed to current trends, such as Costco entering the precious metals market and the establishment of a new state-of-the-art precious metals depository by Money Metals in Idaho, which signals a growing interest and investment in precious metals among the public.

The conversation also delved into specific examples of ongoing legislative campaigns, particularly in states facing challenges. In New Jersey, recent developments concerning sound money legislation were discussed, revealing the complexities of navigating the state’s political environment. Meanwhile, in New Mexico—one of the few states that still impose a tax on gold and silver purchases—the ongoing efforts to promote sound money initiatives face significant hurdles. Advocates in this state must work diligently to overcome legislative constraints while maintaining grassroots support.

In conclusion, Cortez issued a compelling call to action, urging individuals to engage actively in their local communities and advocate for sound money initiatives. He stressed that local efforts are essential for achieving broader legislative goals and emphasized the need for increased public participation in local governance. Through grassroots advocacy, citizens can effectively influence sound money legislation and help bridge the gap between local and national political engagement, fostering a more informed and active citizenry dedicated to sound monetary principles.

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