Want to protect yourself from inflation? Just buy gold, GA bill says

[mahatmakanejeeves]

Want to protect yourself from inflation? Just buy gold, GA bill says

Irene Wright
USA TODAY
Jan. 30, 2026, 4:03 a.m. ET

For thousands of years, humans have been entranced by gold. From the Spanish Conquistadors looking for El Dorado to the tombs of Egypt's ancient pharaohs, gold has been a symbol of power, status and wealth. ... It has also maintained its value.

When the U.S. Mint and a federal monetary system was established, our money was backed by gold. It stayed this way until 1971 when Nixon officially moved away from the "gold standard" in what was expected to be a temporary change. In the years since, while the value of the U.S. dollar has fluctuated significantly, gold has stayed consistent. It's currently valued at more than $5,000 an ounce.

Georgia is now the latest state to try and get back to gold, a move legally designated to the states by the U.S. Constitution, Article I, Section 10. ... SB 424, introduced by Senator Marty Harbin (R-Tyrone) on Jan. 27, would make gold and silver — in the form of bars, ingots or coins — into legal tender in the state of Georgia.

The "Transactional Gold and Silver Act" has been sponsored by 17 Georgia senators, and is being considered during the 2026 legislative session.

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[no_hypocrisy]

1. I dunno.

I see gold/silver/platinum as the prototype for Crypto and Bitcoin.

Sure, their values are going up, but they're also changing minute-by-minute.

You can't go to the bank with it and get federal currency/legal tender.

When you do exchange it, you have to report it to the IRS and pay taxes on it.

Plus, are you going to save up and spend $ 5,500+ per Troy Ounce on gold? It's not like stocks where you hold it, then sell it for a guaranteed profit.

[mahatmakanejeeves]

2. "It's not like stocks where you hold it, then sell it for a guaranteed profit."

I was wondering if you could tell me ahead of time which ones those are, because I've owned plenty of the other kind.

And good morning. Say to yourself, "This could be the day."

[sl8]

3. Interestingly, American Gold Eagles wouldn't meet their proposed 99.5% purity requirement.

The Canadian Gold Maple leaf would, though.

The American Gold Buffalo would, as well.

[multigraincracker]

4. Just remember it is a gamble and can and will go up and down.

Buying and holding physical gold is not the best way. You will pay a premium when you buy it and a fee when you sell it. A better idea might be to look at Gold ETFs/Mutual Funds, also mining stocks that go up and down with the price.