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Texas Creating Gold-Backed Bank; Federal Reserve Alternative

posted Aug 01, 2015 17:53:38 by RickMatheson
I have a very strong desire to move to Texas right about now!!

"Last Friday, Texas Republican Governor Greg Abbott signed House Bill 483 into law, which will create a new state-level bullion depository. According to KVUE-TV, representatives from Governor Abbott’s office said that, under the new law, Texas will repatriate $1 billion in gold from the New York branch of the Federal Reserve to its new state gold depository, which has been unofficially nicknamed Texas’ “Fort Knox.”

“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state,” said Governor Abbott, according to a press release.

The Houston Chronicle notes that the legislation was originally introduced by Southlake Republican Representative Giovanni Capriglione back in 2013, but that it only recently gained momentum in the Texas legislature.

Tenth Amendment Center founder and executive director Michael Boldin wrote that the bill “creates a means for transactions to occur” in gold. “In short, a person will be able to deposit gold or silver – and pay other people through electronic means or checks – in sound money. Doing so has the potential to open the market to sound money in day-to-day transactions,” said Boldin."

Read the rest @

For Liberty! And Texas!

Texas Senate Passes Bill to Establish Bullion Depository, Help Facilitate Transactions in Gold and Silver

AUSTIN, Tex. (May 26, 2015) – A bill taking a step towards gold and silver as commonly-used legal tender in Texas passed in the state Senate today by an overwhelming 29-2 vote.

Introduced by State Rep. Giovanni Capriglione (R- Southlake) and four co-sponsors on Feb. 12, House Bill 483 (HB483) would create a state bullion depository. It reads, in part:

(a) The Texas Bullion Depository is established as an agency of this state in the office of the comptroller.
(b) The depository is established to serve as the custodian, guardian, and administrator of certain bullion and specie that may be transferred to or otherwise acquired by this state or an agency, a political subdivision, or another instrumentality of this state.

Currently, all debts and taxes in Texas must either get paid with Federal Reserve Notes (dollars), authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them.

But the United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”

The legislation in Texas takes a step towards that constitutional requirement, ignored for decades in every state. Such a tactic would undermine the monopoly the Federal Reserve system by introducing competition into the monetary system.

Texas is also moving to outlaw Agenda 21 in the state. That, and this, could mean trouble for the state (as in JADE HELM trouble). Libya and Iraq were destroyed for wanting to adopt gold-backed currency. JFK ordered the US Treasury to issue silver certificates to compete with Federal Reserve notes, and he was killed.

This legislation would be the beginning of the end for the federal reserve.

COUNTRIES ARE DOING THE SAME: Germany's Bundesbank Resumes Gold Repatriation; Transfers 120 Tonnes Of Physical Gold From Paris And NY Fed

Gold Bullion Worth $1 Billion To Be “Repatriated” From NY Fed To New Texas Bullion Depository
[Last edited Aug 01, 2015 17:57:05]
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