Geographically diversify - Move Gold to Texas
Posted: Mon Mar 28, 2016 4:37 pm
I haven't seen this discussed here at at all. The Texas Gold Depository is supposed to be set up this quarter. If it works as advertised it may be a far better oprtionthan Perth Mint or any other way to store gold overseas. Curious what others think (MedTex, I've heard the depository will in Dallas)
Texas State bill (HB 3505) passed June11, 2015 to create a Texas Bullion Depository. HB 3505 establishes the Texas Bullion Depository as an agency of this state in the office of the comptroller.
The Stated purpose written right into the bill is to:
Provide basis for intergovernmental payments and transactions between persons.
Create a process and mechanism by which to function in a systemic national or international collapse.
What the bill essentially does is create a means for intergovernmental transactions to occur in precious metals. Taxes could be paid in precious metals and it would allow people who receive payments from the government to elect precious metals for payment. It would also allow normal citizens to open an account and deposit their precious metals in the state depository. They could then use the electronic system to make payments to any other business or person who also hold an account.
All metals would be redeemable on demand. Fractional Reserve banking would be prohibited as well as all other types of banking or investment with the deposits.
Section A2116.023 of the bill states: “A purported confiscation, requisition, seizure, or other attempt to control the ownership … is void ab initio and of no force or effect.” Effectively, the state of Texas will protect any gold stored in the depository from the federal government.
And free from the threat of confiscation, private citizens can use gold and silver as money, completely bypassing the paper money system.
“People can legally do that with gold contracts. The difficulty is the implementation. Now Texas has set up a mechanism with the depository. We have accounts in that institution and can easily transfer back and forth certain amounts. So we can run our money system a gold or silver basis if we were so inclined,” said Vieira.
This would not be possible if the gold is stored in a bank because of the risks of bank holidays and bankruptcies. It would also not be possible if the federal government could confiscate gold.
According to Vieira, this anti-seizure provision rests on Article 1, section 10 of the Constitution of the United States, which obliges the States to not make anything tender in payment of debts apart from gold and silver coin.
“If someone from the Department of Justice comes along you are going to see legal and political fireworks. The state is going to say ‘we need to have a mechanism to make gold and silver money. This is pursuant to the constitutional provision we have. You can’t touch this. Our state power on the constitutional level is more powerful than any statute you may pass,'” said Vieira.
Because one of the litigant parties is a state, the case would go directly to the Supreme Court.
“We are talking about something completely new in terms of the legal playing field. This is no longer a fringe concept,” he adds, but cautions about a possible fight with the federal government: “We will have to see how committed the governor and the attorney general are”
http://www.zerohedge.com/news/2015-06-1 ... fiscatable
Here's the webpage about the depository (note the webpage belongs to a blogger not some state agency).
http://www.texasbulliondepository.com/home.html
Texas State bill (HB 3505) passed June11, 2015 to create a Texas Bullion Depository. HB 3505 establishes the Texas Bullion Depository as an agency of this state in the office of the comptroller.
The Stated purpose written right into the bill is to:
Provide basis for intergovernmental payments and transactions between persons.
Create a process and mechanism by which to function in a systemic national or international collapse.
What the bill essentially does is create a means for intergovernmental transactions to occur in precious metals. Taxes could be paid in precious metals and it would allow people who receive payments from the government to elect precious metals for payment. It would also allow normal citizens to open an account and deposit their precious metals in the state depository. They could then use the electronic system to make payments to any other business or person who also hold an account.
All metals would be redeemable on demand. Fractional Reserve banking would be prohibited as well as all other types of banking or investment with the deposits.
Section A2116.023 of the bill states: “A purported confiscation, requisition, seizure, or other attempt to control the ownership … is void ab initio and of no force or effect.” Effectively, the state of Texas will protect any gold stored in the depository from the federal government.
And free from the threat of confiscation, private citizens can use gold and silver as money, completely bypassing the paper money system.
“People can legally do that with gold contracts. The difficulty is the implementation. Now Texas has set up a mechanism with the depository. We have accounts in that institution and can easily transfer back and forth certain amounts. So we can run our money system a gold or silver basis if we were so inclined,” said Vieira.
This would not be possible if the gold is stored in a bank because of the risks of bank holidays and bankruptcies. It would also not be possible if the federal government could confiscate gold.
According to Vieira, this anti-seizure provision rests on Article 1, section 10 of the Constitution of the United States, which obliges the States to not make anything tender in payment of debts apart from gold and silver coin.
“If someone from the Department of Justice comes along you are going to see legal and political fireworks. The state is going to say ‘we need to have a mechanism to make gold and silver money. This is pursuant to the constitutional provision we have. You can’t touch this. Our state power on the constitutional level is more powerful than any statute you may pass,'” said Vieira.
Because one of the litigant parties is a state, the case would go directly to the Supreme Court.
“We are talking about something completely new in terms of the legal playing field. This is no longer a fringe concept,” he adds, but cautions about a possible fight with the federal government: “We will have to see how committed the governor and the attorney general are”
http://www.zerohedge.com/news/2015-06-1 ... fiscatable
Here's the webpage about the depository (note the webpage belongs to a blogger not some state agency).
http://www.texasbulliondepository.com/home.html
