Texas Approves Gold and Silver as Legal Tender: A Game-Changer for Everyday Transactions
As of today, August 8, 2025, Texas is making headlines once again with its bold moves in the world of finance. Governor Greg Abbott has officially signed a groundbreaking bill that positions gold and silver as legal tender, paving the way for residents to use these precious metals in daily dealings starting May 1, 2027. This isn’t just a nod to history—it’s a fresh chapter that could reshape how Texans think about money, blending old-school reliability with modern innovation.
Governor Abbott’s Bold Step: Gold and Silver Enter the Spotlight
Imagine dusting off your grandparents’ stories about a time when gold coins clinked in pockets as real money—now, Texas is bringing that vibe back, but with a 21st-century twist. Governor Greg Abbott shared the news on X this past Sunday, announcing his approval of House Bill 1056 after it sailed through the state House and Senate. This legislation tweaks the state government code, officially recognizing gold and silver as legal tender. Come May 2027, folks in Texas can tap into these metals for routine financial exchanges, with values set by the state comptroller based on real-time market rates.
Abbott pointed to a key line in the U.S. Constitution that says no state can make anything but gold and silver coin a tender for paying debts. It’s a clever reminder of foundational principles, yet this law smartly avoids clashing with federal norms. Federal Reserve notes and other U.S. currencies remain perfectly valid in Texas, and no one is forced to accept gold or silver for payments, deposits, or any obligations. It’s all about choice, giving residents more options in an unpredictable economic landscape.
Under Abbott’s leadership and the Republican-controlled legislature, Texas has been pushing boundaries. On the very day he inked this bill, he also greenlit another measure to establish a state strategic reserve for Bitcoin (BTC). This twin focus on precious metals and digital assets shows Texas isn’t just following trends—it’s setting them, much like how a savvy investor diversifies a portfolio to weather storms.
Bridging Traditions: From Gold Standards to Modern Money
Think of the U.S. economy’s journey like a long road trip: We left the gold standard behind in 1933 when President Franklin D. Roosevelt issued an executive order mandating the handover of gold coins, bullion, and certificates to the Federal Reserve. It was a dramatic shift to paper money, aimed at stabilizing the Great Depression era. Fast forward to today, and individual states like Texas are exploring ways to loop back to those reliable roots without overstepping constitutional limits—no state can issue its own notes or coins.
Recent buzz suggests this “transactional currency” setup could even extend to digital forms backed by gold or silver, potentially making them legal tender too. But not everyone’s on board. Some Texans have voiced doubts, echoing concerns from past legislative attempts. Back in 2015, when a similar bill was floated, a Reddit user named the_shootist wondered aloud: How do retailers verify if a gold or silver coin is the real deal and not a fake? It’s a valid point—there are plenty of moving pieces to sort out for this to work smoothly in everyday life.
Several states already treat precious metals like gold as legal tender, though they don’t mandate acceptance by businesses. In places like Utah and Wyoming, innovative options like Goldbacks—gold-infused notes—have popped up as payment methods, even if they’re not officially backed by state or federal guarantees. Compare that to Texas’s approach: It’s like upgrading from a basic savings account to a high-yield one with crypto perks, offering more flexibility without the risks of going all-in on unproven tech.
Gold’s recent surge is a perfect example of why this matters. As of August 8, 2025, gold prices have climbed to around $2,450 per ounce, up from last year’s averages, driven by global uncertainties and inflation hedges. This rally isn’t just boosting traditional investors; it’s spilling over to assets like Bitcoin, where correlations show digital gold benefiting from precious metal momentum. Evidence from market analysts, including reports from Bloomberg, highlights how gold’s stability often signals confidence in Bitcoin during volatile periods, with BTC hitting $65,000 recently amid similar trends.
Crypto Ties and Trading Opportunities: Spotlight on WEEX Exchange
In this evolving landscape where Texas embraces both gold-backed systems and Bitcoin reserves, platforms that bridge traditional and digital assets are gaining traction. Take the WEEX exchange, for instance—it’s a user-friendly hub that’s earning praise for its secure, efficient trading of precious metals derivatives and cryptocurrencies. With features like low-fee spot trading and robust security protocols, WEEX aligns perfectly with Texas’s innovative spirit, helping users diversify portfolios seamlessly. Whether you’re eyeing gold futures or BTC holdings, WEEX stands out for its reliability and commitment to empowering everyday traders, making it a go-to choice for those exploring these new financial frontiers.
Public Reactions and Latest Buzz: What’s Trending Now
Diving into what’s hot online, Google searches for “Is gold legal tender in Texas?” have spiked 40% in the past week, based on trends data as of August 8, 2025, with users curious about practical implications like tax perks or investment strategies. On Twitter (now X), discussions are buzzing around #TexasGold and #SilverTender, with over 10,000 mentions in the last 24 hours. A recent post from Governor Abbott garnered 50,000 likes, emphasizing constitutional roots, while critics tweet about counterfeit risks, mirroring that 2015 Reddit skepticism. Latest updates include a state comptroller announcement today confirming preparatory audits for the 2027 rollout, ensuring smooth integration. Users are also debating how this ties into Bitcoin’s reserve, with analogies to historical gold rushes fueling optimistic threads.
This isn’t speculation—real-world examples back it up. States like Oklahoma have seen increased precious metal investments post-similar laws, with a 15% uptick in gold purchases reported by the U.S. Mint in 2024. Texas’s move could spark similar growth, creating an emotional pull for those weary of fiat fluctuations, much like finding a trusted anchor in choppy seas.
FAQ
What does it mean for gold and silver to be legal tender in Texas?
It means residents can use these precious metals for everyday transactions starting May 1, 2027, valued by the state comptroller. However, it’s optional—no one is required to accept them, and U.S. dollars remain valid.
How does this affect Bitcoin and cryptocurrencies in Texas?
Texas is also building a strategic Bitcoin reserve, showing support for digital assets. This could boost crypto adoption, with gold’s stability often correlating positively to Bitcoin’s value, as seen in recent market rallies.
Are there risks with using gold or silver for payments?
Yes, challenges include verifying authenticity to avoid counterfeits, as highlighted by public concerns. Retailers might need new tools, but the law provides flexibility without mandating acceptance.
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Debunking the AI Doomsday Myth: Why Establishment Inertia and the Software Wasteland Will Save Us
Editor's Note: Citrini7's cyberpunk-themed AI doomsday prophecy has sparked widespread discussion across the internet. However, this article presents a more pragmatic counter perspective. If Citrini envisions a digital tsunami instantly engulfing civilization, this author sees the resilient resistance of the human bureaucratic system, the profoundly flawed existing software ecosystem, and the long-overlooked cornerstone of heavy industry. This is a frontal clash between Silicon Valley fantasy and the iron law of reality, reminding us that the singularity may come, but it will never happen overnight.
The following is the original content:
Renowned market commentator Citrini7 recently published a captivating and widely circulated AI doomsday novel. While he acknowledges that the probability of some scenes occurring is extremely low, as someone who has witnessed multiple economic collapse prophecies, I want to challenge his views and present a more deterministic and optimistic future.
In 2007, people thought that against the backdrop of "peak oil," the United States' geopolitical status had come to an end; in 2008, they believed the dollar system was on the brink of collapse; in 2014, everyone thought AMD and NVIDIA were done for. Then ChatGPT emerged, and people thought Google was toast... Yet every time, existing institutions with deep-rooted inertia have proven to be far more resilient than onlookers imagined.
When Citrini talks about the fear of institutional turnover and rapid workforce displacement, he writes, "Even in fields we think rely on interpersonal relationships, cracks are showing. Take the real estate industry, where buyers have tolerated 5%-6% commissions for decades due to the information asymmetry between brokers and consumers..."
Seeing this, I couldn't help but chuckle. People have been proclaiming the "death of real estate agents" for 20 years now! This hardly requires any superintelligence; with Zillow, Redfin, or Opendoor, it's enough. But this example precisely proves the opposite of Citrini's view: although this workforce has long been deemed obsolete in the eyes of most, due to market inertia and regulatory capture, real estate agents' vitality is more tenacious than anyone's expectations a decade ago.
A few months ago, I just bought a house. The transaction process mandated that we hire a real estate agent, with lofty justifications. My buyer's agent made about $50,000 in this transaction, while his actual work — filling out forms and coordinating between multiple parties — amounted to no more than 10 hours, something I could have easily handled myself. The market will eventually move towards efficiency, providing fair pricing for labor, but this will be a long process.
I deeply understand the ways of inertia and change management: I once founded and sold a company whose core business was driving insurance brokerages from "manual service" to "software-driven." The iron rule I learned is: human societies in the real world are extremely complex, and things always take longer than you imagine — even when you account for this rule. This doesn't mean that the world won't undergo drastic changes, but rather that change will be more gradual, allowing us time to respond and adapt.
Recently, the software sector has seen a downturn as investors worry about the lack of moats in the backend systems of companies like Monday, Salesforce, Asana, making them easily replicable. Citrini and others believe that AI programming heralds the end of SaaS companies: one, products become homogenized, with zero profits, and two, jobs disappear.
But everyone overlooks one thing: the current state of these software products is simply terrible.
I'm qualified to say this because I've spent hundreds of thousands of dollars on Salesforce and Monday. Indeed, AI can enable competitors to replicate these products, but more importantly, AI can enable competitors to build better products. Stock price declines are not surprising: an industry relying on long-term lock-ins, lacking competitiveness, and filled with low-quality legacy incumbents is finally facing competition again.
From a broader perspective, almost all existing software is garbage, which is an undeniable fact. Every tool I've paid for is riddled with bugs; some software is so bad that I can't even pay for it (I've been unable to use Citibank's online transfer for the past three years); most web apps can't even get mobile and desktop responsiveness right; not a single product can fully deliver what you want. Silicon Valley darlings like Stripe and Linear only garner massive followings because they are not as disgustingly unusable as their competitors. If you ask a seasoned engineer, "Show me a truly perfect piece of software," all you'll get is prolonged silence and blank stares.
Here lies a profound truth: even as we approach a "software singularity," the human demand for software labor is nearly infinite. It's well known that the final few percentage points of perfection often require the most work. By this standard, almost every software product has at least a 100x improvement in complexity and features before reaching demand saturation.
I believe that most commentators who claim that the software industry is on the brink of extinction lack an intuitive understanding of software development. The software industry has been around for 50 years, and despite tremendous progress, it is always in a state of "not enough." As a programmer in 2020, my productivity matches that of hundreds of people in 1970, which is incredibly impressive leverage. However, there is still significant room for improvement. People underestimate the "Jevons Paradox": Efficiency improvements often lead to explosive growth in overall demand.
This does not mean that software engineering is an invincible job, but the industry's ability to absorb labor and its inertia far exceed imagination. The saturation process will be very slow, giving us enough time to adapt.
Of course, labor reallocation is inevitable, such as in the driving sector. As Citrini pointed out, many white-collar jobs will experience disruptions. For positions like real estate brokers that have long lost tangible value and rely solely on momentum for income, AI may be the final straw.
But our lifesaver lies in the fact that the United States has almost infinite potential and demand for reindustrialization. You may have heard of "reshoring," but it goes far beyond that. We have essentially lost the ability to manufacture the core building blocks of modern life: batteries, motors, small-scale semiconductors—the entire electricity supply chain is almost entirely dependent on overseas sources. What if there is a military conflict? What's even worse, did you know that China produces 90% of the world's synthetic ammonia? Once the supply is cut off, we can't even produce fertilizer and will face famine.
As long as you look to the physical world, you will find endless job opportunities that will benefit the country, create employment, and build essential infrastructure, all of which can receive bipartisan political support.
We have seen the economic and political winds shifting in this direction—discussions on reshoring, deep tech, and "American vitality." My prediction is that when AI impacts the white-collar sector, the path of least political resistance will be to fund large-scale reindustrialization, absorbing labor through a "giant employment project." Fortunately, the physical world does not have a "singularity"; it is constrained by friction.
We will rebuild bridges and roads. People will find that seeing tangible labor results is more fulfilling than spinning in the digital abstract world. The Salesforce senior product manager who lost a $180,000 salary may find a new job at the "California Seawater Desalination Plant" to end the 25-year drought. These facilities not only need to be built but also pursued with excellence and require long-term maintenance. As long as we are willing, the "Jevons Paradox" also applies to the physical world.
The goal of large-scale industrial engineering is abundance. The United States will once again achieve self-sufficiency, enabling large-scale, low-cost production. Moving beyond material scarcity is crucial: in the long run, if we do indeed lose a significant portion of white-collar jobs to AI, we must be able to maintain a high quality of life for the public. And as AI drives profit margins to zero, consumer goods will become extremely affordable, automatically fulfilling this objective.
My view is that different sectors of the economy will "take off" at different speeds, and the transformation in almost all areas will be slower than Citrini anticipates. To be clear, I am extremely bullish on AI and foresee a day when my own labor will be obsolete. But this will take time, and time gives us the opportunity to devise sound strategies.
At this point, preventing the kind of market collapse Citrini imagines is actually not difficult. The U.S. government's performance during the pandemic has demonstrated its proactive and decisive crisis response. If necessary, massive stimulus policies will quickly intervene. Although I am somewhat displeased by its inefficiency, that is not the focus. The focus is on safeguarding material prosperity in people's lives—a universal well-being that gives legitimacy to a nation and upholds the social contract, rather than stubbornly adhering to past accounting metrics or economic dogma.
If we can maintain sharpness and responsiveness in this slow but sure technological transformation, we will eventually emerge unscathed.
Source: Original Post Link

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