MISSOURI JOINS BULLION DEPOSITORY AND NULLIFICATION TREND
Incase you haven't noticed, there is a growing reaction among states to reject the overreach and unconstitutional measures of the uniparty in charge of the fedgov apparatus in the Swamp. The reaction began when Texas not only created its own state bullion depository, but followed that up by policing the international border which the uniparty refuses to do, and by passing a variety of nullification laws, and entertaining secession referenda. Of course, the standard reply to all of this is that the American Civil War made secession illegal, and the standard riposte to that Lincolnesque mysticism is that the Union is not a suicide pact. Whatever one makes of Texas, it was quickly joined by Utah, and then Tennessee, in considering the state bullion depository idea. Coupled with this, we've witnessed a number of states passing legal tender resolutions, recognizing payments made in bullion or specie as legal tender for debts and transactions, and a number of states have also passed "constitutional carry" laws for guns, and/or nullification laws releasing state authorities from carrying out any federal law in breech of these ideas. More recently, we've watched states pass nullification laws for executive orders or at least considering such bills.
Consider this trend from the following two articles (the first of which was submitted by W.G.):
I point out these two articles and bills - both emerging within the same time frame and from the same state, Missouri - as being indicative of a trend, and a trend not confined to Texas alone. When one considers these moves together, it is clear that not only is there a "deep state" at the federal level, but that there are "deep states" at the state level, and that these in turn are pursuing policies that de facto are at variance with that at the federal level, and that these policies are, moreover, consistent with the eventual establishment of institutions entirely bypassing the central or general authority.
In short, it is a trend that is no longer deniable, whether that trend issues in "election denial" or more hardened legislation and policy at the state level.
And that means, in short, that we're approaching a Rubicon, a line that will eventually be crossed. I strongly suspect that line - as I outlined recently with Catherine Fitts - will be the realization that federal spending and budget processes are wildly out of control and egregiously unconstitutional. At that point, expect the states to start a tax revolt and begin to escrow federal taxes. After all, there are already disturbing signs that all that money going to the Ukraine is being laundered back in a variety of creative ways...
... think FTX, folks.
The bottom line that I want to get across here is that one can expect more of this trend from the states, not less, and for this trend to only increase the more the Swamp doubles down on Globalooneyism and foreign misadventures like the Ukraine, and I do not think it will simply be limited to legislation, nor even to states-backed tax revolts which at this stage I suspect are an inevitability. I also suspect we will see actual emergence of state-international economic and financial policy to accomplish what the Swamp - recent host to Mr. Zelensky and his t-shirt - cannot: namely, reining in the theater and accomplishing something practical and positive for this country, and not a dubious foreign "leader". We've already seen such policy attempts before, and once again, from Texas, when that state's Governor, Mr. Abbot, tried to woo the NASDAQ data centers away from New York and New Jersey to Dallas. That is more or less the equivalent of moving the exchange itself away from the region typically associated with equities and securities markets. Watch for more of that too, and if they won't be wooed to leave their traditional homes, watch for new exchanges to start up over time.... After all, when you start state bullion depositories, you also start state markets for those commodities.
The final trend to watch for is the continued growth of the use of cash, and I suspect in tandem with this, the growth of local currencies.
In short, this year is I suspect the beginning of many long-term trends that will only grow in proportion as Mr. Globalooney continues to double down in his disastrous policies.
See you on the flip side...
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