Posted on 03/24/2013 8:55:40 PM PDT by Smittie
Texas has $1B in physical gold
Governor Perry is showing support for a bill to bring home rare and precious metals the state already owns.
Republican Rep. Giovanni Capriglione of Southlake introduced House Bill 35-05. It would create the Texas Bullion Depository, which would house the physical gold bars the state owns.
The Texas Tribune reports the state has a billion dollars in physical gold, which is owned by the University of Texas Investment Management Company.
The gold is currently stored in the Federal Reserve Bank of New York.
"If we can securely store this gold in Texas and do it at a lower cost to the state than where it is currently stored then we should take a look at that," the Governor said in a statement from his press office to KXAN on Friday. "Number one priority is that it is securely stored."
(Excerpt) Read more at kxan.com ...
What the hell, is wrong with you, boy?
Every state that owns gold should do the same thing. Keep it within the boundaries of the state. Every state needs to prepare to exist without Federal Handouts and using their own assets.
One day, the dollar is likely to just collapse. Any governor and state legislature that is not preparing for how to survive in that scenario is not fulfilling their duty.
Thats about 1560 gold bricks roughly 21.5 tons.
“What would Texas do if they showed up at the Fed bank with a truck and the Fed said “no”?”
The feds would not say “no” to Ranger Lone Wolf Mcquade. He would bust out his armpit uzis.
With questionable speculation practices (fear pushing, strained analyses, et al), instances of fake bullion being discovered, and housing the bullion in a State/City who cannot be trusted with freedom, it makes perfect sense to take possession of your bullion and keep it away from these financial bandits.
Well, since the feds hold it in a 'delegated trust' FOR the State, it means it belongs TO the State.
I believe refusing to give it back would be both theft and breach of contract.
However true, therefore, it may be, that the judicial department is, in all questions submitted to it by the forms of the Constitution, to decide in the last resort, this resort must necessarily be deemed the last in relation to the authorities of the other departments of the government; not in relation to the rights of the parties to the constitutional compact, from which the judicial, as well as the other departments, hold their delegated trusts.
James Madison, Report on the Virginia Resolutions
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Hee, hee, hee!
DAMN RIGHT! We need to retrieve our gold and store it physically within the borders of the Republic of Texas.
It would not surprise me if all of the physical gold is not there and has been attached as collateral for some New York bank’s outstanding loans.
I’m a native Texan and I think it’s well past the time that we become our own free republic once again.
Perry has become a beacon of hope for us Texans.
-——again-——
I think that if you read the fine print, Texas might still be intact as a Republic that voluntary joined the Union and retains it’s national status.
The tried and true test is to bite it. If there are teeth impressions, it is likely gold. To test purity, use a touchstone.
The funny part about the Fed is they were willing to hold any gold deposits “free of charge” as long as an entity submitted a certain minimum weight. Nations, etc that couldn’t afford such insane physical security gladly gave it to the Fed to hold for “free”.
Suckers!
Damn straight DH. If the gold isn't there, then a demand is made to return it (not that monopoly money they're printing, but physical GOLD). Not returned in 30 days? Texas becomes Gault's Gulch for realz.
The feds will do anything to keep the facade of legitimacy up for as long as possible.
They’d figure out a way of NOT exposing themselves with a direct refusal.
DH, said “I’m a native Texan and I think it’s well past the time that we become our own free republic once again.
Perry has become a beacon of hope for us Texans.”
I’m another native Texas and agree with you 100%
You mean to say his power is in his armpits? What puns on guns that runs up!
Remember that famous phrase, “So sue me”.
Which was the point. It's called establishment of standing.
It's a win/win for the State. We either regain physical possession of the gold, or we've established standing to sue the federal government for release from the Compact.
Duh!
Stange place for your coma.
Nothing wrong with me, I don’t hang out in kalifornia, dude.
Your gold in someone else’s bank? Oh yippee!
Last I heard the big pipelines pointing north were brim full and humming. Fracing seems to be a dirty word up there.
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