Established in 2006 as a Community of Reality

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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


2 posters

    Why Texas wants its gold back from the Federal Reserve

    day dreamer
    day dreamer
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    Posts : 3197
    Join date : 2012-12-19

    Why Texas wants its gold back from the Federal Reserve Empty Why Texas wants its gold back from the Federal Reserve

    Post by day dreamer Wed 08 May 2013, 11:39 am

    Why Texas wants its gold back from the Federal Reserve


    By Keith Wagstaff | The Week – Tue, Mar 26, 2013







    Gov.
    Rick Perry tells Glenn
    Beck he wants the state's $1 billion in gold bars on Texas soil
    Texas wants its gold back —
    all $1 billion of it. That's what Gov. Rick Perry told Glenn Beck on his radio
    show last week, according to the Texas Tribune.
    The
    Federal Reserve holds the gold bars, which are owned by the University of
    Texas Investment Management Company. Perry wants to bring them all back to Texas
    to store the gold in what would be called the Texas Bullion Depository.
    Former Rep. Ron Paul (R-Texas), a
    stalwart gold
    standard proponent, supports Perry's proposal. But Texas state representative Giovanni Capriglione,
    who wrote legislation to fulfill Perry's wishes, wants to distance the move from
    that kind of rhetoric, telling the Texas
    Tribune that the measure is "not about putting Texas on its own gold
    standard." He says, instead, that it looks to "give the state a reputation as
    being more financially secure in the event of a national or international
    financial crisis."
    But what's so bad about keeping the gold in the Federal Reserve's vault in
    New York City? If there were a serious spike in inflation (a big worry of gold
    standard supporters), there would be nothing to stop Texas from accessing its
    store of gold in Manhattan. And taking the gold to Texas would likely be more
    problematic than helpful. As Neil Irwin of the The Washington Post notes, building, staffing, and securing
    the proposed Texas Bullion Depository would be incredibly expensive.

    In fact, it would take a Mad Max-style breakdown to justify bringing all of
    that booty back to Texas, says Irwin:
    For it to make sense to go to all that hassle of storing your own gold, you
    have to be insuring against some much darker possibilities, like a collapse of
    the U.S. government and monetary system...
    In some episode of hyperinflation and U.S. government collapse, as the nation
    falls into a Hobbesian state of nature, paper dollars will be no good, but gold
    would likely be the medium of exchange for buying food and guns and whatever
    else is needed for Texas to prosper amid the post-apocalyptic hellscape. [Washington Post]
    Another reason — other than the one put
    forth by Capriglione — that a state might want to keep $1 billion of gold
    handy is if it were planning to secede. Texas, after revolting from Mexico in
    1835, existed as an independent republic until it was forced to rejoin the U.S.
    following the Civil War. And the desire to regain its independence hasn't
    dwindled much in the ensuing time — more than 100,000 Texans signed an
    online petition earlier this year asking the White House to allow the state to secede.


    http://news.yahoo.com/why-texas-wants-gold-back-federal-141500293.html
    day dreamer
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    Why Texas wants its gold back from the Federal Reserve Empty Texas lawmakers propose creation of Texas Bullion Depository to guard against the federal government

    Post by day dreamer Wed 08 May 2013, 11:42 am

    Texas lawmakers propose creation of Texas Bullion Depository to guard against
    the federal government






    Why Texas wants its gold back from the Federal Reserve Usgb_gold_bars_2March 31, 2013 –- For years the term "Texas gold" has typically referred to
    oil, and the black sludge that originally brought fortune to the state and many
    of its residents. But if Texas lawmakers have their way, it may soon come to
    mean precious bullion itself in the modern age.



    Based on a bill introduced by in the Texas legislator, the Lone Star State is
    seeking the authority to create its own public and private gold depository,
    reported The
    Daily Ticker
    on
    Yahoo Finance
    .


    Known as the Texas Bullion Depository, the proposed facility would change
    current laws and allow the state and its citizens to store gold bullion in a
    private facility, with the full protection of the state.


    Jim Rickards of Tangent Capital Partners and author of the bestseller
    Currency Wars said, “Personally I think this is a game-changer in the way the
    world and institutional investors are going to look at gold.”


    The legislation is not law yet and needs to be voted upon before it can
    pass.


    “It allows large Texas pension funds to invest in physical bullion, which
    they are not allowed to do right now,” Rickards told The Daily
    Ticker
    . For example, the Texas Teachers Retirement System, one of the
    largest pension funds in the world, they’re interested in gold but they can only
    do paper gold, Comex futures, things like that. They’re not permitted by law to
    own the physical gold. They would like to own the physical gold, because it’s a
    better way to own it. You don’t have the exchange risks, and you don’t have
    various other regulatory risks.”


    The proposed legislation would change the law, to allow large pension funds
    in Texas to buy physical gold. It would also create a central Texas storage
    facility to hold this gold. If passed, the proposal states that over time the
    Texas Bullion Depository would accept private deposits as well.


    “Think of it as the Fort Knox of Texas,” said Rickards. “This will be one of
    the first sovereign depositories of private gold. Private citizens will be able
    to put their gold in a sovereign depository that is guaranteed by the State of
    Texas.”


    If passed, the Texas bill would buoy the state’s 10th amendment
    power. If the current administration or any future presidential administration
    tried to mandate that citizens turn over their gold, as President Franklin D.
    Roosevelt did in 1933, the new legislation would allow Texas to refuse.


    “You’ve got the state of Texas standing up for you if the federal government
    tries to do what they tried to do in 1933,” said Rickards, “ which is take the
    people’s gold."


    The move has caused some to raise their eyebrows and ask once again if Texas
    is eyeing secession from the union down the line.


    However, it’s not the only state looking to shore up its resources based on
    precious metals.


    Recently, lawmakers in Arizona moved to declare privately minted gold and
    silver coins legal tender.


    Gold is considered a hedge against inflation. And while inflation is
    currently low in the U.S. right now by official figures, Rickards doesn’t expect
    that to remain the case, projecting an uptick to come later this year or early
    next year.


    If people were to lose faith in the dollar, Rickards concedes Texas could
    have the foundation for its own currency, of sorts.


    <p>Click
    here
    to see the full The
    Daily Ticker
    video
    of Rickards on Yahoo Finance
    .

    http://www.usgoldbureau.com/news/gold-news/texas-lawmakers-propose-creation-texas-bullion-depository-guard-against-federal-gover
    Neno
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    Posts : 10948
    Join date : 2012-12-17
    Age : 60
    Location : Lone Star State

    Why Texas wants its gold back from the Federal Reserve Empty Re: Why Texas wants its gold back from the Federal Reserve

    Post by Neno Wed 08 May 2013, 6:24 pm

    more than 100,000 Texans signed an
    online petition earlier this year asking the White House to allow the state to secede.
    lol, out of 33 million? make it more wide known about our GOLD and the responses of these outsiders and the petition will grow... ;)

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    Why Texas wants its gold back from the Federal Reserve Empty Re: Why Texas wants its gold back from the Federal Reserve

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