We round out this week's blogging about the pushback movement from the states with this story from Tennessee shared by K.M.  This is another benchmark development as we'll see in a moment, but first, the article:

Tennessee House Votes 98-0 to Allow State Treasurer to Acquire and Hold Gold to Protect the State

I want to cite significant portions of this article:

As inflation continues to terrorize the budgets of Americans and states alike, two Tennessee bills empowering the State Treasurer to invest state funds in physical gold and silver are moving quickly through the legislature.

House Bill 1479, introduced by Rep. Bud Hulsey, passed out of the House of Representatives on Monday with a 98-0 vote.

Senate Bill 519, the identical senate-side companion bill introduced by Sen. Frank Niceley, passed out of the Senate State and Local Government Committee today by a unanimous vote of 8-0.

The legislation defines “bullion” and “specie,” as well as explicitly stating that “subject to appropriation, the state treasurer may purchase and sell gold or precious metal bullion or specie that will be directly owned by the state, and in the custody of the state treasurer.”

Additionally, the twin bills would allow the state treasurer to “make and enter into contracts, trust instruments, agreements, and other instruments with a person to effectuate this section, including, but not limited to, financial institutions, accountants, auditors, attorneys, consultants, and other contractors.”

Lastly, the measure calls for “physical gold and precious metal purchased under these acts to be custodied by the state treasurer in a state depository, and maintained in a vault within the state depository’s banking facilities in accordance with accepted industry standards for secure storage, and within the geographical boundaries of Tennessee.”

States that help set up the infrastructure to protect state funds with the monetary metals will help further to bring gold and silver into use as an alternative to the inflationary paper-money system, as well as buttressing state funds, many of which are invested in risky paper assets. (Emphases added)

Notice that with the bills under consideration, we are now moving rapidly beyond merely establishing a bullion depository, but rather, that the state treasurer is being more or less ordered to place state assets at least partially in the form of bullion and specie, as a response to what are increasingly "risky paper assets."  This war against 'paper" is further indicated by a special direction that the gold and precious metal are Physical and to be custodied "within the geographical boundaries of Tennessee" and within the state's own vaults.

In other words, no certificates of deposit from Chase Manhattan, and no storing of the gold anywhere else but in a state owned and run vault.

That, folks, should tell you just how bad fedgimmick is being viewed. It's Tennessee's way of saying - quite understandably - we no longer trust you, at all.

But the part that most grabbed my attention with these measures was this passage: "the twin bills would allow the state treasurer to “make and enter into contracts, trust instruments, agreements, and other instruments with a person to effectuate this section..."  What kind of instruments are in view here? Trust instruments suggest that a measure of permanence and administration is being sought, and that therefore, Tennessee is not viewing these measures simply as stop-gaps in response to a financial and/or political crisis of the moment. It is saying, in other words, not only "we no longer trust you, at all" but also "we will never trust you, again." But what intrigues me even more is the open-ended ability, under the bill, for the state treasurer to "make ... other instruments with a person to effectuate this section."  Person here could be an individual off the street, or, for that matter, a corporation or any other entity having a status in law as a "person."

And that means that the "other instruments" being implied here are precisely instruments like bearer certificates... maybe... oh.... I don't know... something like this:

Lot of two Vintage silver Certificates with Cutting Errors | Etsy

...Just change that part that reads "This certifies that there is on deposit in the treasury of the United States of America one dollar in silver payable to the bearer on demand" (that was back in the day that we supposedly had real money, folks) to "this certifies that there is on deposit in the treasury of the State of Tennessee one dollar payable to the bearer on demand," and you get the idea of the significance of that part of the bill.

But that convertability has to be real, and people have to be able to know they can go to Nashville, and actually get their gold or silver upon presentation of their "other instruments with a person" in order for the measure to be "effectuated."  And part of that "effectuation," as we will discover if this bill passes and is signed into law, is the regulation of the value of those bullion and specie deposits, their assay purity, and so on.  If state notes of deposit begin to circulate as currency, watch how very quickly things will change in the swamp....

... Why, Vienna and Budapest will actually have to start paying attention to Prague and Pilsen and Lemberg and Timosoara and Cluj, and to what the people actually involved in production of things other than the financial instruments of wishful thinking want...

What a concept.

See you on the flip side...

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Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".

No Comments

  1. Nidster - on March 25, 2023 at 11:02 pm

    An increasing number of states have or are in the process of moving in the direction of sound, real money and away from ‘fiatbucks’, aka Federal Reserve notes. On the flip side Fed Chairman Jerome Powell said before the US House Financial Services Committee on March 8, 2023 “That’s a great thing.”. And announced on Wednesday that it will begin formal certification of participants in the FedNow system in April, 2023 in anticipation of a July 2023 launch. FedNow “will enable all the banks—any bank in the United States, not just the big ones—to offer instantly available funds and real-time payments to their customers.”

    But subterfuge by any other name would still be a ruse. Most of us are aware any Central Bank Digital Currency [CDBC] is all about surveilling Americans and controlling their lives in terms of what they buy, how much and how often. All that control can be lessened once folks use an untraceable alternative. We know this because we’ve seen it happen in other parts of the world. Look no further than China to see the impact of a centralized digital currency. The People’s Bank of China uses its central bank to monitor citizen behavior, allowing for the surveillance of spending habits and to cut off access to goods and services when the citizen is deemed as being disobedient to the State.

  2. zelda on March 20, 2023 at 12:17 am

    Just remember the great gold heist of 1933.

  3. marcos toledo on March 19, 2023 at 11:25 pm

    What Wesrern Governments they are Crime Syndicates in everything but name.

  4. FiatLux on March 18, 2023 at 8:43 am

    If it becomes law and other states follow suit, this is potentially a very big deal indeed. For all the reasons stated in the blog post, plus this: every investment in physical bullion housed within state boundaries is one less investment in Wall St. phony-baloney paper and that many more dollars siphoned away from the criminal New York banksters.

  5. Robert Barricklow on March 17, 2023 at 11:37 pm

    Possession is 9/10ths of the law.
    Paper assets aren’t worth the paper their printed on.

    Of course; as in the American Revolution, the Red Coats[today’s Commie Crats] would counterfeit the Colony’s script. Ironically, the USSA government has taken on the role of the Red Coats, and the States are now like the American Revolutionary colonies – yearning to be free of the King’s worthless paper.

    Need to get back to where the State’s are issuing their very own currency, in order to be truly sovereign once again.
    But the FED, aka the BIS internationalists, will be doing everything possible to insure the American people become CBDC slaves. The BIS will be using governments all over the globe; against their very own citizens, in favor of foreign internationalist governance & corporate coupons. Much like the old Company Store; only now, a one-stop global store for ALL your needs – including the one religion; that of course, is defined as: one-size fits-all.

    As in the American Revolution: it’s taxation w/o representation.
    Slaves don’t need representation. They need CBDC.
    Let the Bank Holidays begin.

  6. anakephalaiosis on March 17, 2023 at 9:05 am

    Assay of purity is positively ensured, by land left fallow every seventh year, at jubilee. Leviticus 25:4

    Debt enslavement can’t manifest, when economy is rebooted, by seven years cycles. Deuteronomy 15:12

    Mōloch gains no foothold, when accumulation of debt is outlawed, by constituted amnesty.

    The Holy Writ is freed from Pharaonic megalomania!


    Leviticus 25:4
    But in the seventh year shall be a sabbath of rest unto the land, a sabbath for the Lord: thou shalt neither sow thy field, nor prune thy vineyard.

    Deuteronomy 15:12
    And if thy brother, an Hebrew man, or an Hebrew woman, be sold unto thee, and serve thee six years; then in the seventh year thou shalt let him go free from thee.

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