Image Credit: Anything is Possible / Facebook, Rep. Bud Hulsey / Facebook & Canva
The Tennessee Conservative [By David Seal] –
Representative Bud Hulsey (R-Kingsport) and the late Senator Frank Niceley (R-Strawberry Plains) worked for years to protect the financial well-being of Tennesseans in the event of a national currency collapse.
Hulsey’s most recent bill HB2038, and the senate companion bill SB1827 by Senator Brent Taylor (R-Memphis) would define precious metals as a form of currency, namely gold and silver.
As Hulsey explained to various committees in the Tennessee House of Representatives, “you don’t own what you think you own. When you purchase stocks, or open a bank account, the stock is not listed in your name, and it can be used as collateral by the major banks. In a financial meltdown situation, you are not first in line to claim your property.”
The precious metals bill is one of many proposals by Hulsey aimed at protecting the interests of ordinary Tennessee citizens that have investments. A link to the bill history is provided here.
As Hulsey explains,
“Frank Niceley and I worked on this for a few years, along with a gold bullion depository and a Tennessee Mint. Gold and silver are really the only viable currencies, and it has been that way for five thousand years. Paper currency loses its buying power daily. There are some other States that have passed the same type of legislation making gold and silver legal tender. Frank and I were working on a goal of having a depository, and a system to transact on gold within the depository.”
The Hulsey/Taylor proposed legislation is made necessary by the globalist war on cash. Manifestations of this assault on cash can be seen in the looming digital programmable money systems and the Federal Reserve’s desire for Central Bank Digital Currency (CBDC).
“The problem is avoiding a digital system that the Federal Reserve has access to. We need an analogue system, and Catherine Austin Fitts helped us work on that. Their plan is to do away with cash and force CBDC. Financial independence is gone at that point and liberty with it, because all the accounts are programmable just like the system in Communist China. Making gold and silver legal tender is fundamental for success of a transactional depository and a mint. It gives the people other options in the event of a national currency collapse or forced digital systems.”
Hulsey explains the last-minute process that ultimately killed the legislation for the 2026 legislative session.
“I thought I had it across the finish line last year. We estimated that just minting commemorative coins and marketing them would net the State 385 million in the first 5 years. The Senate killed it at the last-minute last year. This year, it passed through committees on the House side and passed on the House floor. My colleagues in the House added an amendment and named the bill the “Hulsey-Niceley legal tender act.” The bill passed the committee on the Senate side and went behind the budget. There was not a fiscal note on the bill, but the Senate Finance Chairman would not bring it out from behind the budget and put in on the Senate floor. The committee closed, and the bill died.”
For background on the legislation, a news report is linked HERE.
Author’s Note: A group of grassroots activists, constitutional conservatives, and Hulsey admirers from across the state gathered on Saturday May 16, 2026, in Johnson City, Tennessee to pay tribute to and celebrate the legislative career of Representative Hulsey. Many in attendance, including this reporter, discussed the importance of continuing his unfinished legislative business and pledged to advance the conservative cause that became his trademark in the Tennessee Legislature.
About the Author: David Seal is a retired Jefferson County educator, recognized artist, local businessman, 917 Society Volunteer, and past Chairman of the Jefferson County Republican Party. He has also served Jefferson County as a County Commissioner and is a citizen lobbyist for the people on issues such as eminent domain, property rights, education, and broadband accessibility on the state level. David is also a 2024 winner of The Tennessee Conservative Flame Award & has received an accolade from the Institute For Justice for successfully lobbing the TN legislature to protect property rights. David can be reached at david@tennesseeconservativenews.com.
2 Responses
Like usual, Tennessee legislators are acting like members of the elite ruling class and banking industry, or better said, these politicians know where their bread is buttered politically and they have plenty cover by burying this bill. Unfortunately, most Tennesseans do not know and understand that ‘control’ of our monetary systems means you LOSE your freedom to come and go and buy and sell. And, when if hits the fan, and it will, Tennesseans will lose because we elect politicians instead of leaders of men with conservative principles.
GROAN!! David! Exactly how did the Senate Finance Committee kill it???
This IS NOT a good report!!