Where would the banks keep the gold and silver they receive from depositors?
The same place they always kept it in the past, before the introduction of unbacked Federal Reserve Notes: in their vaults. They still have those! Under the Constitutional Tender Act, banks and lending institutions chartered by the state, and any bank or lending institution serving as a depository for the state or any department or agency of the state, are required to simply add three types of accounts to they current FRN-based accounts they currently offer: Pre-1965 Silver accounts, Silver Eagle accounts, and Gold Eagle accounts. Those accounts are to be segregated from all other types of currency, and withdrawals must be made in the same currency as deposits, to avoid the possibility of monetization by the banks. • Is it really constitutional and otherwise legal for Georgia to use and require gold and silver coins for all transactions with the State? Absolutely. Article I, Section 8, Clause 5 of the United States Constitution grants Congress the power “To coin Money”; and Article I,
