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Texas wants its gold back inside the state's borders
AP ^ | 07/04/15

Posted on 07/04/2015 3:57:40 PM PDT by Enlightened1

Forget Fort Knox or the Federal Reserve. Texas has decided to start keeping its gold holdings within in its own borders. But what makes sense politically in such a sovereignty-loving place is creating a logistical conundrum.

Texas is the only state that owns an actual stockpile of gold, according to public sector and financial industry experts - not just gold futures or investment positions, but approximately 5,600 gold bars worth around $650 million. The holdings, stored at a New York bank, for some harken back to century-old fears about the security of currency not backed by shiny bullion.

The Legislature's decision this summer to bring its gold cache home was hailed by many conservatives, and even some on the far left, who are suspicious of national government.

"There will always be the exact same amount of gold in there as the amount that was put in," no matter what happens to the financial system, said Republican state Rep. Rep. Giovanni Capriglione, a former tea party organizer from the Dallas suburbs who authored the gold bill.

But for the Texas comptroller's office, which has to implement the policy, the catch is that the new Texas Bullion Depository exists in name but not reality.

The law doesn't say where the depository would be or how it should be built or secured. No funding was provided for those purposes or for leasing space elsewhere. Further complicating matters is a provision allowing ordinary people to check their own gold or silver bullion into the facility.

"We are honestly at the phase where the questions we are answering are creating more questions that we have to answer," said Chris Bryan, a comptroller's office spokesman.

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Crime/Corruption; News/Current Events; US: Texas
KEYWORDS: back; gold; texas; texasgold; wants
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1 posted on 07/04/2015 3:57:40 PM PDT by Enlightened1
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To: Enlightened1

Use the fence money.


2 posted on 07/04/2015 4:02:02 PM PDT by Raycpa
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To: Enlightened1

When I was in high school our history class visited the Capital in Tallahassee. One of the places was the state treasury and it really was a vault. We also got to meet Governor Hayden Burns in his office and he gave us about a 15 minute talk about ethics in government.

The state treasurer showed us a $10,000 bill. I happened to notice there was a revolver on a shelf above the place where the bill was kept.

I think that vault would have held a quantity of gold with no problem.


3 posted on 07/04/2015 4:04:30 PM PDT by yarddog (Romans 8:38-39, For I am persuaded.)
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To: Enlightened1

Numerous folks also assert that Texas wants its sovereignty back too & some even assert that Texas was never legally readmitted into the USA thus claiming that it is still the sovereign Republic of Texas & often use the gold star on the blue background flag that was used for a while during its phase as an independent Republic.


4 posted on 07/04/2015 4:07:09 PM PDT by Republican1795.
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To: Enlightened1
The Legislature's decision this summer to bring its gold cache home was hailed by many conservatives, and even some on the far left, who are suspicious of national government.

And they should be.

With talk in congress about confiscating 401Ks and with the what is happening in Greece where they intend to use the deposits of private individuals to bail out failing banks this is no time to trust your government.

The debt of the Federal government is somewhere north of 15 trillion dollars default is a sneeze away and those in office when that happens will be grasping at whatever is available to continue to feed the welfare state and keep the cannibals at bay.

As soon as I can I will be buying gold and keeping at home. Even safety deposit boxes will not be secure from the grasping hands of the government when the SHTF.

5 posted on 07/04/2015 4:32:20 PM PDT by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: Enlightened1

I would really like Texas to be an independent country, we could help the leftists move out.


6 posted on 07/04/2015 4:38:48 PM PDT by GeronL
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To: GeronL

Works for me. Can we do a trail of tears event for the ones already infesting the state?


7 posted on 07/04/2015 4:41:00 PM PDT by TADSLOS (A Ted Cruz Happy Warrior! GO TED!)
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To: Enlightened1

These liberals, socialists and communists are now saying that TEXAS wants to secede from the union. Not so fast, TEXAS just doesn’t trusts these people in Washington, and are expecting one hell of a crash. With the TEXAS GOLD in the hands of TEXANS, at the very least, should there be a financial crash, TEXAS won’t be part of it. The other states should be doing the same thing. Any one trusting these politicians in Washington, would be better off “WHISTLING IN THE GRAVE YARD”.


8 posted on 07/04/2015 4:45:31 PM PDT by gingerbread
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To: TADSLOS

I would enjoy that!

Make sure it is broadcast live over the new Texas Broadcasting System and the Texas National Television network. :p


9 posted on 07/04/2015 4:57:30 PM PDT by GeronL
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To: TADSLOS

Maybe Texas needs a fence around all sides of the state. Offer the commies a pound of their drug of choice to get out and there would be traffic jams on the way out of the state.


10 posted on 07/04/2015 5:07:45 PM PDT by Foundahardheadedwoman (God don't have a statute of limitations)
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To: Enlightened1

Given the Federal Government is technically bankrupt, and only stays solvent through Federal Reserve money printing, and fake interest rates - yes it’s a good idea for Texas to get its gold


11 posted on 07/04/2015 5:33:25 PM PDT by PGR88
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To: gingerbread

Anyone trusting the politicians in Washington is an idiot.


12 posted on 07/04/2015 5:46:33 PM PDT by Savage Beast ("Inside every 'Liberal' is a totalitarian screaming to get out!")
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To: Enlightened1

Some other threads about the Texas Gold from a couple weeks back.

http://www.freerepublic.com/focus/f-news/3301275/posts
Texas Building New Facility To Store Gold Reserves Out of
Reach of Federal Confiscation or Seizure ^
67 comments

http://www.freerepublic.com/focus/f-news/3300204/posts
BREAKING: Texas Signs Bill to Get GOLD from Fed ^
75 comments

http://www.freerepublic.com/focus/f-news/3299938/posts
Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed,
Makes It “Non-Confiscatable” ^
78 comments


13 posted on 07/04/2015 5:56:07 PM PDT by deport
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To: Foundahardheadedwoman

And a double fence around Austin.


14 posted on 07/04/2015 5:58:12 PM PDT by bgill ( CDC site, "we still do not know exactly how people are infected with Ebola")
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To: Enlightened1

With all the banks in Texas that the feds closed in the 80s & 90s, there should plenty of bank vaults that could be ‘re-purposed


15 posted on 07/04/2015 7:19:40 PM PDT by PAR35
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To: Enlightened1; jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...

Goldbug ping.


16 posted on 07/04/2015 7:20:42 PM PDT by Jet Jaguar
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To: Enlightened1
The holdings, stored at a New York bank, for some harken back to century-old fears about the security of currency not backed by shiny bullion.

No narrative there. [/SARC]
17 posted on 07/04/2015 7:23:18 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
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To: Jet Jaguar

Thanks for the ping. Interesting spin by the occupation media.


18 posted on 07/04/2015 7:24:27 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
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To: GeronL

I’m so sick of these out-of-state trolls and their attitude and driving habits.
One can spot them a mile away. and I’m a transplant from the north. I’m one of those that say, “I wasn’t born here, but By God I’ll die here.” I love this state.

Won’t be long til Texas is filled with them and real Texas loving people will be gone.


19 posted on 07/04/2015 7:42:19 PM PDT by TribalPrincess2U (0bama's agenda¬óDivide and conquer seems to be working.)
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To: Enlightened1

I suggest we up-armor the Texas School Book Depository in Dallas and store OUR gold there to further piss off the libs.


20 posted on 07/04/2015 8:05:43 PM PDT by ConservaTexan (February 6, 1911)
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