Posted on 05/30/2016 7:23:51 PM PDT by 2ndDivisionVet
Last year Texas Governor Gregg Abbott signed HB 483, allowing the creation of the Texas Gold Depository. “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,” he said last June.
This gold bank would allow Texas to recover the gold that it has stored in New York vaults, and give Texan citizens and institutions a chance to store their gold in the facility, and open checking and savings accounts that would be valued in gold rather than dollars. This even opens the possibility of making gold transactions electronically for the very first time.
Now several companies are offering competing plans to build the depository, including Brinks, Anthem Vaults, and Texas Precious Metals. TPM wants to create a sprawling 46,000 square foot facility with 12 inch concrete walls. Brinks would utilize a series of preexisting vaults that they own and operate in Texas, while Anthem vaults would build “multiple vaulting locations throughout Texas to enable all Texans access to their bullion within a reasonable distance from their homes.” They wold also set up coin shops that could accept deposits on behalf of the vault.
According to Representative Giovanni Capriglione, the original sponsor of HB 483, “I am optimistic that the depository will be up and running at the end of this year or the beginning of next year.” What isn’t being said by the original proponents of this idea, is that it would give Texans a solid alternative to the Federal Reserve banking system and the US dollar. And should the dollar ever lose its global reserve status, Texas will be in a financial position that is far more resilient than the rest of the country.
Interesting...
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
If, in the event of economic collapse, the gold is used to feed the EBT masses, then I wholly disapprove of the policy.
This asset should be used to help productive, working people, not parasites.
There is a certain class of people who are simply black holes: you give them food, clothing, money, but it disappears and nothing ever comes from our sacrifice. I want those people to experience “The Great Reset” of our society.
It won’t be pleasant for them, but tough titties.
Yeah, that’s what I mean. The bastards in the fed have stolen it.
Gold belonging to the University of Texas is in a rented vault at a private commercial bank, not the Federal Reserve. The Fed location was erroneously reported by an initial press release from the State of Texas, and has been constantly reported erroneously since.
Secure Manhattan storage space is very expensive. Texas can store it much cheaper.
bttt for later... again!
recover the gold that it has stored in New York vaults
Who’s going to make NY give it back?
Good thing for states to do. I said just about a decade ago, that if we were to survive, it would be up to the states. Stand up to Fedzilla and stop letting them rule over that for which there is no constitutional authority.
Also insure that the state is healthy financially, not dependent on Federal Funds with strings attached, and this sounds like an excellent thing too.
Problem is, I can’t afford Gold. My grand parents used to have a supply of silver dollars under the floor boards. Grandpa would give me one every year for my birthday. He called it a big nickel when I was about 6 years old.
Roosevelt did it with Gold. The Feds “confiscated” the Gold. Devalued the dollar by about 40% IIRC, and people had no Gold to hedge against it.
Not everyone turned it in. Not sure what the enforcement effort was.
UPDATE
https://www.texastribune.org/2017/06/14/texas-taps-private-vendor-first-gold-bullion-depository/
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