Posted on 06/17/2015 1:17:50 PM PDT by texas_mrs
The state of Texas is demanding the Federal Reserve in New York repatriate $1 billion in gold bullion after Governor Greg Abbott signed a bill establishing a state-run gold reserve in the Lone Star state.
Abbott signed House Bill 483 into law last Friday, stating, “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.”
Under the terms of the bill, written by Rep. Giovanni Capriglione (R-Tarrant County), the gold will be held in state run depository beyond the reach of the federal government and other any “quasi-governmental authority” should they attempt to access or “confiscate” it.
Section A2116.023 of the bill states: “Purported confiscation, requisition, seizure, or other attempt to control the ownership … is void and of no force or effect.”
The bill also states “The depository in the case of receiving notice of a purported confiscation, requisition, seizure, or other attempt to control the ownership, disposition, or proceeds of a withdrawal,transfer, liquidation, or settlement of a depository account … may not recognize the governmental or quasi-governmental authority, financial institution, or other person acting as the lawful successor of the registered holder of a depository account in question.”
(Excerpt) Read more at conservativerefocus.com ...
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
-PJ
They better be on the lookout for hot chicks flying cropdusters!
Texas also needs to lead the states to peacefully force corrupt Congress to tax and spend within the restraints of its constitutional Article I, Section 8-limited powers.
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” —Justice John Marshall, Gibbons v. Ogden, 1824.
After Texas and the other states have succeeded in peacefully forcing corrupt Congress back into its Section 8-limited power cage, then they’ll have lots of gold to store in their gold depositories. =^)
I’m sure Texas is on solid ground Constitution-wise. But they are going up against the Almighty Fed and I just don’t anticipate success.
But, fingers crossed, it could happen I suppose.
Be interesting to see how the Federal Courts lie their way out of this one.
Gold-sheathed or plated tungsten.
Like that one scam.
I don't believe that is entirely correct. As I read it, yes, they aren't getting the amount requested and deliveries are spread out. But they are and have received gold.
My guess is that the US is having to "acquire" the gold so that it can repatriate it to the Germans. As long as some is coming across regularly I don't think the Germans want to make a scene about it for fear of instigating a run on it by other countries.
IIRC, Germany was told that they’d see their gold in seven years.
I think she means there is no gold in the Federal depository. I concur. Likely there is not enough gold in Ft Knox or NY to make me a new wedding ring. Good luck to Texas getting their $1 billion back. Germany is in line in front of them demanding $7 Billion back. They have been told no can do.
Imagine a tight border around Texas. Wouldn’t that be somethin’.
The University of Texas systems already moved gold out of the fed into a private NY warehouse in 2011. This must mean we left some in the fed we plan to go back for which will travel with the gold we already took out?
The University of Texas systems already moved gold out of the fed into a private NY warehouse in 2011. This must mean we left some in the fed we plan to go back for which will travel with the gold we already took out?
Nice!!
If they aren't careful Succession could lead to Marshall Law! ;>)
We wouldn’t have passed the bill unless we knew for sure our gold was there. We pay an amount every year for the storage of the gold. We will get our gold.
Here is a thread from yesterday with some 70 comments if anyone is interested in reading them.
Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”
I posted the following on that thread from an article back on 4/17/2011.. University of Texas Endowment Holds $1 Billion Gold, 5% Of Its Portfolio
snip
Friday, as gold prices hit a new all-time high – $1486 an ounce($1500 is around the corner),
the University of Texas Investment Management Co., revealed that 5% of its $19.9 billion
endowment(it handles Texas A&M as well) was in actual bars of gold bullion in a New York
bank vault owned by HSBC Holdings, the London based global banking institution. Not in
any gold ETF or individual gold mining shares, or in gold futures;l Texas took delivery
of 6,643 actual bars of bullion, or 664,300 ounces– a quite unusual transaction for a
university. end snip
You may want to post some info for enlightment on this thread.
$100 bill: Stephen Austin
$50 bill: Sam Houston
$20 bill: William Travis
$10 bill: Chester Nimitz
$5 bill: Dwight Eisenhower
$2 coin: Tom Landry
$1 coin: Davey Crockett
BAHOG y’all
thank you, deport
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