This March, Republican primary voters in Texas won’t just be choosing which candidates to represent their party in November – they will also be voting on a series of ballot propositions that while not legally binding offer a way for voters to guide their leaders.
Here’s why what is happening in Texas matters and what it says about the future of gold.
On May 2, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies. Enactment of this legislation would create an option for people to conduct business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money, and possibly create a viable alternative to a central bank digital currency (CBDC).
Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).
A bill filed in the Oklahoma Senate would establish a state bullion depository similar to the one operating in Texas. This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money.
Last month, Tennessee Gov. Bill Lee signed a bill into law that creates a commission to study the feasibility of creating a gold bullion depository in the Volunteer State.
A state bullion depository would not only create a safe place to store precious metals; it would increase the state’s financial independence. It could also facilitate the everyday use of gold and silver in financial transactions in Tennessee and set the stage to undermine the Federal Reserve’s monopoly on money.
Last week, officials broke ground for construction of the country’s first state gold depository in Texas. The creation of the Texas Bullion Depository represents a power-shift away from the federal government, provides a mechanism for the state to establish a higher level of economic independence, and sets the foundation to undermine the Federal Reserve’s monopoly on money.
The Texas Bullion Depository officially opened for business this week. The creation of the facility represents a power-shift away from the federal government and sets the foundation to undermine the Federal Reserve’s monopoly on money.
Countries that stockpile gold create a foundation of stability for their monetary systems. This is precisely why China, Russia, Turkey and several over countries are increasing their gold holdings. But it’s not just countries looking to gold to provide political clout and economic power. Texas recently laid the groundwork for its own gold depository. The reason? To wrest some economic power from the Federal Reserve by bringing some monetary autonomy to the Lone Star State.
The Texas Bullion Depository took a step closer becoming operational earlier this month when officials announced the location of the new facility. The creation of a state bullion depository in Texas represents a power shift away from the federal government to the state, and it provides a blueprint that could ultimately end the Federal Reserve’s monopoly on money.
Last week, the Texas House unanimously passed a bill that would facilitate the establishment and operation of the Texas Bullion Depository; helping to undermine the Federal Reserve’s monopoly on money.
The creation of a state gold depository in Texas represents a power shift away from the federal government to the state, and it provides a blueprint that could ultimately end the Fed. The facility will not only provide a secure place for individuals, business, cities, counties, government agencies, and even other countries to to store gold and other precious metals, the law also creates a mechanism to facilitate the everyday use of gold and silver in business transactions. In short, a person will be able to deposit gold or silver – and pay other people through electronic means or checks – in sound money.
