TEXAS BEGINS CONSTRUCTION ON ITS STATE GOLD DEPOSITORY

TEXAS BEGINS CONSTRUCTION ON ITS STATE GOLD DEPOSITORY

You'll recall last year I blogged about the fact that the state of Texas had passed a law creating its own gold depository. We, lest you think it was all talk and no action, Ms. M.W. found this article at our friends at Zero Hedge, indicating that it was not just talk:

Texas Begins Construction of Gold Depository

There's something in this article that caught my attention, and no doubt it did the reader's as well:

Laying the Ground Work for Electronic Gold-Based "Money"

For one, many state politicians hope that the State of Texas will be able to relocate its own gold holdings into Texas from New York where it currently sits. The state spends a million dollars per year on its storage.

Moreover, existence of the depository opens up the possibilities for users creating a new type of currency in which purchases are made electronically with the backing of the gold in the depository. In other words, one could potentially use the depository's infrastructure to make purchases using gold, and to have gold either directly deposited into another's account, or converted to US dollars and deposited in a conventional bank. Arguably, this is just an electronic version of gold-backed money.

In other words, in this speculative reading of the event, Texas is getting in on the ground floor of the current meme of "crypto-currencies". Now, I personally suspect that the push behind crypto-currencies has been a centrasl bank-driven meme, after all, none other than the Bank of England has been in on it, creating their own versions. In other words, the move may not be such a good thing, since the goal here seems to be the removal of physical media of exchange as a part of the move to drive a "cashless society" meme, yet another theme near and dear to the banksters' black hearts. How better to "reassure" a skeptical public than to have a staunch "conservative" state like Texas involved with the scheme.

Of course I've long been of the opinion that such moves are doomed to failure: people will always need real physical media of exchange, and as I've also suggested, so will central banks and even more importantly, criminal undergrounds and "hidden systems of finance." The bearer bonds scandals of almost a decade ago are, to my mind, a proof of this.

There are other high octane speculative possibilities though, and among them is the growing realization in the USSA that the country is badly divided(after all, the so-called "blue" counties are increasingly determining the outcomes of federal elections, with the rest of the country (the "red" counties) being drug along. This election demographic has helped propel the feeling among many Americans that they simply no longer have any genuine representation at any federal level. In response, a growing number of states - like Texas - have been passing resolutions in their legislatures challenging federal decrees and executive ukases and encyclicals...er... I mean, executive orders. And a number of these resolutions have included resolutions reinforcing the constitutional system of money, i.e., that Congress alone has authority to "make and coin money and regulate the value thereof." These resolutions often deliberately tie bullion to money, and Texas' bullion depository has now added teeth to the effort.

The other scenario, implicit in the Zero Hedge article, is the growing distrust of the banking system and the federal reserve, and to this extent, the initial measure was drafted with this in mind. Recall that Texas' initiative also means repatriating its gold from the Federal Reserve, a move in which it joined Germany and a variety of other countries attempting to recover their gold. Whether or not it will be any more successful remains to be seen

In the long run, of course, this means Texas has reasserted a measure of state sovereignty almost unheard of since the War Between the States. There are other possible interpretations of the move, of course, and time will tell what the ultimate meaning of the initiative in Texas is.

See you on the flip side...

44 thoughts on “TEXAS BEGINS CONSTRUCTION ON ITS STATE GOLD DEPOSITORY”

  1. “Texas picks and chooses which federal funds to accept and internally raises..”

    Yeah, right Texas just funds the Johnson Space Center by itself.

    Give me a break.

  2. Quoting JPF: —(after all, the so-called “blue” counties are increasingly determining the outcomes of federal elections, with the rest of the country (the “red” counties) being drug along.

    Then why are both houses of Congress red? The ACA is a red program right out of the Heritage Foundation, turning state university systems into only vocational schools sure is something reds favor.

    As for gold and Texas, well if oil is going to crash because it’s no longer used as fuel, something else would have to replace it. Unfortunately, for Texas, gold is already easy to make in quantity and any serious technology that would replace oil would make the manufacture of gold, silver etc reasonably easy by other methods.

    From the ZH post: —it was modified to create what is seemingly a state-chartered gold depository that will be privately owned and paid for via fees for gold storage.

    Gee can’t imagine any problems with that, nothing to see here.

    Also from the ZH post: —Well, in spite of the disapproval of New Yorkers, the Texas legislature passed the bill, and the governor…

    No, the term New Yorkers couldn’t possibly be code for anything, no one has ever done that kind of substitution. Not. Ted Cruz did so quite recently.

  3. “(after all, the so-called “blue” counties are increasingly determining the outcomes of federal elections, with the rest of the country (the “red” counties) being drug along.”

    Then why are both houses of Congress red? The ACA is a red program right out of the Heritage Foundation, turning state university systems into only vocational schools sure is something reds favor.

    As for gold and Texas, well if oil is going to crash because it’s no longer used as fuel, something else would have to replace it. Unfortunately, for Texas, gold is already easy to make in quantity and any serious technology that would replace oil would make the manufacture of gold, silver etc reasonably easy by other methods.

    “it was modified to create what is seemingly a state-chartered gold depository that will be privately owned and paid for via fees for gold storage.” Gee can’t imagine any problems with that, nothing to see here.

    Also from the ZH post:

    “Well, in spite of the disapproval of New Yorkers, the Texas legislature passed the bill, and the governor.” No, “New Yorkers” couldn’t possibly be code for anything, no one has has ever done that kind of substitution. Not.

    1. Lost, I am curious whether the “private owners” of the (future) Texas gold depository are the same “private owners” as the Fed banks. If so, it will be just more shuffling-around and obfuscation. If not, we might be seeing clashes between different 1% factions…

  4. Robert Barricklow

    Goshawks,
    An excellent book on this subject[from my perspective] is
    Into The Buzzsaw: LEADING JOURNALIST EXPOSE THE MYTH OF A FREE PRESS.
    by Kristina Borjesson.
    She was a producer for 60 minutes when they deep sixed her investigative report on the cause of Flight 800 July 1996.
    She found her Free Press bubble popped/FUBARed.
    The bot nixes buzzsaw elitist issues[IMO].

    1. Robert, thanks for the book reference. I knew there was no free press when “60 Minutes” canned the interview with the whistleblower about tobacco industry ‘addiction’ practices, and when those companies really knew about cancer/health risks from smoking. The journalists (free journalists, at the time) were overridden by higher-ups in the corporate structure. A big stink, at the time…

      1. Robert Barricklow

        Goshawks,
        The funny thing was the intrepid reporter suddenly discovered what you already knew

    2. What was Ms Borjesson going to disclose? There’s a lot of misdirection about the explosion of TWA 800.

      In other words, her story could have been part of that misdirection.

      No, it is very unlikely that a missile brought down the plane. And such claims are a setup distraction.

      (An internet search tells me she was pushing the missile theory, and it was ABC, not CBS, that killed the story. She had also worked for CBS, including 60 Min. earlier.)

        1. Nope, and if any fired AA missile parts were found they were likely a planted distraction.

          It’s pretty much understood what the source of the explosion is that brought down TWA 800, what’s not understood is the method by which the explosion was ignited. It had never happened on a passenger jet.

          Passenger jets crashing into the World Trade towers didn’t bring them down either; those were just events that occured about 45 minutes prior.

          1. Robert Barricklow

            Lost,
            That’s why she wasn’t published.
            You can’t read her analyses.
            What you see…
            is what they want you to see.

          2. Yay Lost is back, always keeps things interesting. I personally enjoy the debates. I wish Frankie was still around though.

          3. Robert Barricklow

            Guygrr,
            I too enjoy Lost’s perspective, he makes some very astute points. I don’t necessarily agree with them; but love this democracy of ideas being exchanged.

            We all miss Frankie.
            Frankie was in the know; with a sense of humor dealt that out it – in spades, skewering TPTB’s commanding heights with the wit & ridicule they so richly deserve.
            Perhaps, as the song goes, once the smoking 44’s business is done…..
            Frankie will return?

          4. RB:

            It’s easy to find her claims online.

            Some kind of EMP weapon was likely used to detonate the fuel vapors in the understood to be near empty center fuel tank.

            It was probably a ranging test for getting rid of plane 3 4.5 years later in Pennsylvania.

          5. RB:

            At the time mention of weird lights in the sky, not streaks of light, made the NY Times.

            Having seen what was quite possibly a Soviet weapons ranging test (al la Tom Bearden) in the sky (of a US state) in 1985, they sure don’t look like a streaking missile. And no, what I saw in 1985, I’ve never seen matched in anything but some of what Bearden writes.

            No, I don’t think the Russians shot down TWA 800 in 1996. Plenty of parties have these weapons.

            This missile is a plant, if it even exists.

          6. Robert Barricklow

            Lost,
            I actually prefer Lendman’s detailed rip on the NY Times; too lazy to dig it up.
            Practically all sources are suspect. Including Anonymous.
            There is no Snow White source in our Alice In Wonderland reality.
            Granted, I don’t know what caused Flight 800; however, it is certainly NOT the official story. The fact that they Deep Sixed her & her story, shows an exposed sensitive elitist nerve was struck. The U.S. Navy testing what?
            So I’ll go with that buried tooth fairy version, rather than any of the news that the Red Queen finds… fit for print.

        2. Robert Barricklow

          The smoking 44 is a bit ambiguous.
          I’m using it as a metaphor for passion.
          Perhaps writing a novel? [or another one?]

          1. RB:

            The New York Times lies all the time, so did the Reagan administration, which PCR served in. Is everything PCR publishes a lie?

            However, a simple Times reporter just talking to people on Long Island the day after the crash is unlikely to have lied. Lots of things make it into the NY Times, the private Fed for example, speculations on the aether, etc.

            And frankly 20 years ago the NY Times lied a bit less frequently. It was much less of lifestyle paper. As a non-lifestyle example, I suggest you read the PCR link you provided. Not how it starts.

            The fact remains that 20 years, even the NY Times made passing mention to odd sky light at about the time TWA-800 came apart.

  5. Gold, well Texas is getting in on the band wagon that Russia and China have been doing for quite a while. Then there is Fort Knox, and the conundrum of “how much of the stuff is still there”.
    It doesn’t matter why Texas is building a vault, it’s just that they are, and how it all works after completion will be very interesting.
    Like who’s going to be in charge? funny that, wonder if the “board of directors” will be released??

    1. Gold is easy to make from mercury, you can do it yourself with chemistry you have in your kitchen or bathroom.

      There are reasonably easy methods using the less toxic metal copper as a starting point.

      I can’t imagine that various players don’t know these methods.

  6. Robert Barricklow

    this is the 5th & last try on trying to post
    public banking access info.

  7. Robert Barricklow

    Public Banking is a Big Time enemy
    of the international private banking cartel.

    1. Robert Barricklow

      The Public Banking Institute dot org web site
      is being sent by the politicized bot to the memory hole.

      Case Solved.

      1. Robert Barricklow

        3 strikes on trying to post anything related
        to Ellen Browns public banking institute.

  8. If I recall correctly, Texas’ Hunt Brothers were convinced that the USD$ was going to implode (much like the nation would) and that Texas needed to mint and coin its own monetary reserve for the day when the USSA ceased to exist and Texas would become the centrepiece of a sovereign nation of its own.

    The gold depository is far more telling to me than the percentage of Texans who wish to separate from the USA. Were the centres of power and commerce on the East Coast of the USA in some sense eliminated or compromised, it would take very little for the USA to subdivide by state and then regroup by regional governing associations until firmer national structures could be fashioned. Texas would be a natural anchor for a new nation given its physical size and its economic profile.

  9. On the darker, physical side of a separate gold depository in Texas, I could see this ‘move’ as an insider-recognition that NYC is going to be uninhabitable and the Fed gold-deposits unreachable. Maybe ‘boom’, maybe other causes. This could be a convenient ‘cover’ for the Fed not actually having the gold that it says is there. Think about the ‘disappeared’ gold down in the WTC Building 7 vaults…

    On the more political side, I suspect that the separate gold depository is a sign of the break-up of the US. The Soviet Union had a break-up when citizens decided they did not like their current political structure. (Plus ‘help’ from outside.) The US never went through that ‘self-examination’; maybe it is due or overdue.

    The big question then is whether this is an ‘upwards’ move, or a manipulation by the PTB. Remember, the American Civil War was an attempt by the Rothschilds to break up the fledgling US into two minor powers that could then be played against each other…

    1. I suspect it is the will of TPTB exploiting that certain sense of separate nation feeling that is already found in Texas. But it could be a mad convergence of two unrelated movements. Stranger things have happened.

    1. I am glad people are beginning to ‘document’ this behavior. It might lead to a greater recognition of the source and intent…

  10. Robert Barricklow

    Real crypto-currencies are decentralized with no middle man/bankster.
    When it comes to banks; the preferred banking institutions are public
    NOT privatized.
    Central Banks are beginning to camouflage themselves as genuine crypto currencies. They are NOT.
    http://publicbankinginstitute.org/

    Bitcoin is genuine; but there are some drawbacks.

  11. NorseMythology

    While the blockchain technology lends itself to a de-centralized system, if one looks into the history of the technology,the supposes creator is quite mysterious. Some speculate that one person could not create something like this on their own. Was it the creation of intelligence agencies? Possible if not probable? Can we rule out the possibility that a group of nerds within Intelligence had some free time and wanted to play their part in addressing the biggest problem i.e. fed/irs/monetary?

    I am torn, i cant figure it out.

  12. marcos toledo

    The problem is the USA is more of a cult than a state. With stupid dodgy stories pass off as history and who do they mean by Americans let alone humans. Electronic gold could easily become like credit-debit cards another bankster scam of reliving fools of their money in their bank accounts. What are we to make of a society fighting about public toilets access and weapons who believe individualism and collectivism are separate from one another. When they’re intertwined in every living creature think people.

  13. From the ZH post:

    “it was modified to create what is seemingly a state-chartered gold depository that will be privately owned and paid for via fees for gold storage.” Gee can’t imagine any problems with that, nothing to see here.

    Also from the ZH post:

    “Well, in spite of the disapproval of New Yorkers, the Texas legislature passed the bill, and the governor.” No, “New Yorkers” couldn’t possibly be code for anything, no one has has ever done that kind of substitution. Not.

  14. “(after all, the so-called “blue” counties are increasingly determining the outcomes of federal elections, with the rest of the country (the “red” counties) being drug along.”

    Then why are both houses of Congress red? The ACA is a red program right out of the Heritage Foundation, turning state university systems into only vocational schools sure is something reds favor.

    As for gold and Texas, well if oil is going to crash because it’s no longer used as fuel, something else would have to replace it. Unfortunately, for Texas, gold is already easy to make in quantity and any serious technology that would replace oil would make the manufacture of gold, silver etc reasonably easy by other methods.

  15. Texas builds its own gold repository. Texas still insists its petition and agreement for statehood is strictly voluntary. Texas picks and chooses which federal funds to accept and internally raises it’s own resources for programs it rejects. Regardless of Jade Helm’s real intent, one has to ask how successful was the implied threat by USA, Inc (and it’s Federal Reserve banking cartel). It apparently failed to temper their long term strategy for economic viability. But another curious option available to Texas and the US Inc. is to force a Constitutional convention to evade a more serious crisis. That prospect is particularly worrisome. If history has a voice all previous attempts to resolve disputes over amending a document usually end in its replacement–and that is a dangerous prospect indeed! Anyone who has monitored Texas carefully will see a state as divided internally as our country, and there are some very powerful Statists in positions of power who would have a say.

    1. “Texas picks and chooses which federal funds to accept and internally raises..”

      Yeah, right Texas just funds the Johnson Space Center by itself.

      Give me a break.

      1. No argument here, Lost. Of course Texas wants the dollars the space program provides. That program brought a lot of economic growth to Texas. If you deduced that from my comment it was definitely not intended. Texas puts its citizens first and that makes DC nervous. That is the point. Thank you for making an opinion easier to defend. Take care, and welcome back.

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