Posted on 06/14/2015 4:51:00 PM PDT by dontreadthis
While the country was focused on the McKinney, and the Dallas Police shooting, another huge incident was occuring in the Lone Star State. You actually may be able to call it the Lone Gold Depository State.
On June 12, 2015, Texas Gov. Greg Abbott signed a bill establishing the nation’s first state-level gold depository, an important first step towards gold and silver as commonly-used legal tender in the state. If proper measures are taken, Texas citizens could in fact use gold and silver for tender of payment through checks and paper money on new deposits. Legally speaking, gold and silver still cannot be used for payment until it is “commonly used.”
The Bill was introduced by State Rep. Giovanni Capriglione (R- Southlake) and four co-sponsors on Feb. 12, House Bill 483 (HB483) will create what some pundits are calling the Texas “Fort Knox.”
No other state has its own state bullion depository, and this would be the first ACTIVE step in abolishing the federal reserve if we were out to do that.
More importantly, though, the bill creates a means for transactions to occur in these metals. The bill reads, in part: a depository account holder may transfer any portion of the balance of the holder’s depository account by check, draft, or digital electronic instruction to another depository account holder or to a person who at the time the transfer is initiated is not a depository account holder.
Texas currently has to pay all taxes and debts with Federal Reserve Notes, however over time that could change. For now, Texas will be using the closest thing to sound money today.
HB483 goes into effect immediately since it received greater than a 2/3 vote in each chamber. The House passed it 140-4, while the Senate approved it with a 27-4 vote. Abbott said Friday that the measure will “repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas.” The state’s gold reserves are controlled by various agencies, including investment funds tied to its public universities.
Mark my words, this in and of itself is the single most important story so far in 2015. If you want to End The Fed, Texas just brought us that much closer.
The Germans can’t seem to get their gold back,let’s see if Texas does better.
Preparing for the financial disaster Obama has wrought.
Thanks for posting. I was just reading about in on zero hedge (415 comments)…
Very interesting.
Hard to get what doesn’t exist.
Maybe Texas is preparing to secede finally. Under O’s rule I can certainly see why. DC and the blue states are like two different countries in regard to the people, culture, and politics.
Asking for your gold back and getting it back are two different issues.
That is an absolute scandal. I suppose the centrals showed them the abyss, and they backed off? I hate the secrecy. I also hate the implication that maybe the gold depositories don't have anywhere near the amounts of metal they are purported to have...
We will. We’re Texas. Our leverage: control of most of the oil in the U.S. and a lot of it outside of the U.S.
They would do, say, a thousand bucks of works and he would pay them 20 bucks, in GOLD.
Then his and their tax would be on the 20 bucks.
Does Ron Paul know this?
Secrecy? Why the gold is just transparent, that’s all.....
Brilliant!
If they were actually serious they could hold all federal tax remittances hostage since they go through Texas banks - banks which depend on the state government to enforce their liens.
A wise move
“was being charged a storage fee of $108 per bar by a bullion depository in New York City, a total cost of more than $605,000 a year. “
http://www.fortbendstar.com/2015/06/10/vaults-across-texas/
!!!
Hummmm...mmmm I just sent that info out to a family member to get his take. Interesting.
Hummmm...mmmm I just sent that info out to a family member to get his take. Interesting.
I doubt they’ll get their gold back. Instead, they will get some nice piles of Treasury Notes which the Feds constantly assure us are “as good as gold”.
And where did all that gold go?The retirement accounts of prominent politicians?
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