BREAKING: Texas Signs Bill to Get GOLD from Fed

Posted: June 13, 2015 in Media
Tags: , , , , , , , , , ,

tender-texas-061215

Andrew Pontbriand

June 13, 2015

While the country was focused on the McKinney, and the Dallas Police shooting, another huge incident was occuring in the Lone Star State. You actually may be able to call it the Lone Gold Depository State.

On June 12, 2015, Texas Gov. Greg Abbott signed a bill establishing the nation’s first state-level gold depository, an important first step towards gold and silver as commonly-used legal tender in the state. If proper measures are taken, Texas citizens could in fact use gold and silver for tender of payment through checks and paper money on new deposits. Legally speaking, gold and silver still cannot  be used for payment until it is “commonly used.”

The Bill was introduced by State Rep. Giovanni Capriglione (R- Southlake) and four co-sponsors on Feb. 12, House Bill 483 (HB483) will create what some pundits are calling the Texas “Fort Knox.”

No other state has its own state bullion depository, and this would be the first ACTIVE step in abolishing the federal reserve if we were out to do that.

More importantly, though, the bill creates a means for transactions to occur in these metals. The bill reads, in part: a depository account holder may transfer any portion of the balance of the holder’s depository account by check, draft, or digital electronic instruction to another depository account holder or to a person who at the time the transfer is initiated is not a depository account holder.

 Texas currently has to pay all taxes and debts with Federal Reserve Notes, however over time that could change. For now, Texas will be using the closest thing to sound money today.

HB483 goes into effect immediately since it received greater than a 2/3 vote in each chamber.  The House passed it 140-4, while the Senate approved it with a 27-4 vote.  Abbott said Friday that the measure will “repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas.” The state’s gold reserves are controlled by various agencies, including investment funds tied to its public universities.

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Mark my words, this in and of itself is the single most important story so far in 2015. If you want to End The Fed, Texas just brought us that much closer.

This article may be re-posted with full attribution to the author, and leaving all links in tact.

Andrew Pontbriand is an Activist, the Founder and Writer for The Resistance Journals, as well as a contributor to the Activist Post and Political Junkie. Andrew is also the Author of the eBook “Escape From Tyranny,” which will be released in print this summer. Full Bio on Muck Rack.

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Comments
  1. […] Texas Passes Bill to Repatriate $1Billion in Gold/State Bullion […]

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