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C,rk t7F S�JW h�'P City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, Florida 33160 (305) 947-0606 City Hall (305) 949-3113 Fax MEMORANDUM TO: Honorable Mayor and City Commissioners FROM: Fabiola Stuyvesant, Commissioner DATE: January 18, 2024 RE: Express Support of Senate Bill 750 & 752, and House Bill 697 & 699- The Sound Money Act RECOMMENDATION: This Resolution is presented for your consideration. REASONS: Crippling inflation is a result of the expansion of the currency supply, a monetary policy that has abandoned the gold standard, and a Congress that has given away its power to coin money to a private corporation that acts as the Central Bank of the United States, called the Federal Reserve. Th( federal government and the Federal Reserve have indicated the desire to create a Central Bank Digita Currency (CBDC). However, the State of Florida does not define CBDC as money, as of the signing c HB 7049 into law in 2023. The increased centralized control of money through a CBDC will furthe enable federal monetary tyranny and deprive the American people of our rights to life, liberty, and the pursuit of happiness. The State of Florida has a responsibility to protect the people from crippling inflation, the dangers of modern monetary theory to print currency into oblivion with unbacked fiat currencies that rob the people of their wealth and purchasing power, and has the constitutional right and absolute state authority to make gold and silver legal tender within the state, and it has the right to establish gold and silver -backed currencies as, "Tender in Payment of Debts". Florida House Representatives Doug Bankson and Chip LaMarca introduced and filed The Soun, Money Act, HB 697 & HB 699, into the House, and Florida Senator Ana -Maria Rodriguez introduced and filed The Sound Money Act, SB 750 & SB 75; into the Senate, which aim to reintroduce gold and silver as legal tender, alongside the existing Item Number: 10.13 344