'Not a fan': Right-wing bill faces 'huge challenge' in Missouri

Republican lawmakers are trying to make it possible to enter a Missouri convenience store and buy a soft drink with a $3,300 gold coin.

The Kansas City Star reports Missouri lawmakers approved a controversial bill that makes gold and silver legal tender in the state. The legislation, backed by right-wing grassroots organization Missouri Freedom Initiative, passed both chambers of the General Assembly as an amendment to a sweeping finance-related bill. It is now headed to the desk of Republican Gov. Mike Kehoe.

If approved, the legislation requires state government entities such as the Missouri tax office to accept electronic versions of gold and silver, called “electronic specie currency,” as forms of payment. The measure does not require businesses like grocery stores to accept gold and silver as payment but it would allow them to do so.

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“The goal is about restoring economic and political freedom back to everyday Missourians,” said Rep. Bill Hardwick, (R-Dixon), but critics scoff at the impracticality.

“So, when I go to a gas station and buy a Coke, a 20 ounce Coke, and I’d say, you know, here’s my gold… Are they gonna give me back money in gold?” asked Sen. John Rizzo (D-Independence) when similar legislation was under consideration in 2023.

“[I’m] not a fan of that part of [the bill],” said Rep. Kemp Strickler, (D-Summit). “Assuming it gets signed, we’re in the ‘how do we implement’ stage.”

Strickler said the bill’s passage was a surprise and he anticipated private businesses ignoring the idea because the extra work involved would be “a huge challenge” for them. An earlier version of the bill actually required businesses to accept gold and silver as payment, but that version got pushback from the state chamber of commerce.

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The Missouri bill follows nearly 20 years of fear-laced gold investment commercials saturating right-wing talk radio and news programs. Announcers peppering old Rush Limbaugh and Michael Savage shows traditionally hawked arguments that inflation and deficits arising from government spending are devaluing the dollar, making gold the best investment for your money.

Read the full Kansas City Star report here.