So many people sent me the story about the Texas stock exchange and its connection to Blackrock, that this story must be our lead story for this week. The version of the story that will be the focus of today's blog is that in The Gateway Pundit, which many of you saw and sent along. So thanks to all of you who sent versions of this story.

You might recall that a little over three years ago I blogged about the story of Texas Governor Greg Abbot trying to woo the NASDAQ stock exchange away from New York City to Texas, to the Dallas/Fort Worth metroplex:

Back then there was talk of NASDAQ moving its data center to Texas, and according to the story, "other exchanges" were considering a similar move. That provoked a bit of analysis from me:

Now this article, one might have noted, is a bit peculiar in several respects. For one thing, it mentions - twice - "NASDAQ and other exchanges," the clear implication being the NYSE itself. But that's only one of what might be "other exchanges." We'll get back to that in a moment. Then there is a second peculiarity in that the article specially mentions that what is being moved are the "trading platforms" and "data centers". I strongly suspect that the language here is meant to be reassuring to the low information news consumer, because the language implies that the actual exchange floors themselves - you know, that image we have in our minds of people on the floors of those exchanges shouting bids at each other and waving papers around. They're just moving the data centers and not the actual exchanges themselves.

Except in the modern world of dark pools and algorithmic trading, to move the data center so far away from the actual trading floor is a big clue, because in the dark pool world of quants and algorithmic trading, moving the data center is moving the trading floor, at least, the virtual one. And whatever may be left of real humans on the real trading floor shouting buy and sell orders at each other won't be far behind. THe reason? Because in the world of algorithmic trading, trading/data centers need to be as close to "the action" as possible, because trades are executed in nanoseconds. The farther the distance - even at the speed of light - the greater the risk that certain trades won't go through in time.

Which brings me back to "the other exchanges." The article, I suspect, has already given us the "public spin version" of the reasons for the move: higher taxes. But I suspect the deeper reason is the insanity of the political culture in the "blue states", and their increasing fiscal unsoundness and lack of stability. It's difficult - even in a dark pool - for traders manning the phone banks and computers to execute trades by following arrows on the floor, wearing masks, and "social distancing" (which Abbot will have to explain too). One needs sane environments in which to conduct market activities. So one wonders if "other exchanges" means that commodities exchanges - like in Chicago, another "blue" city with a mayor competing with DiBlasio for the nuttiest mayor of the year award - might be looking at Texas as well.

Which brings me to my high octane speculation of the day, for I do not for a moment think that this is just happenstance. All the mentioned "reasons" in the article seem to be to be a bit contrived. After all, New York and New Jersey have had high taxes for years if not decades. So what has changed? For one thing, the political and cultural climate. For another, the financial one. Texas is a producing state. It produces things: crops, cattle, horses, technologies, rockets, airplanes, cement... New York produces, hmmm... well, crops, horses, some technology, and things like that. But it's biggest product is "financial paper", or what I call "crapitalism." And it's produced a lot of that. And it also produces lots of taxes. So if one is entertaining the idea of a financial reset, or even a "coming split" in the country, one wants to be "where the action is," and that's not New York or California, it's Texas.

And while we're talking about splits and financial resets, Texas has something else New York doesn't, and that thing makes me wonder if we're looking at the public face of plans - detailed plans - that were set in motion some time ago...:

Texas has a state bullion depository. And isn't it funny how they're all of a sudden talking about crypto-"currencies" "backed" by gold...

All New York has is the Federal Reserve... which tends to lose massive amounts of gold on occasion. Just ask Hjalmar Schacht...

Obviously, in that bit of "high octane speculation" I was, as usual, giving free rein to the imagination...

...which, in the context of the current story, seems to be a bit of confirmation that perhaps that some of those speculations, at least, were true.  What emerges from this more recent article is not only that the Texas stock exchange is more or less a done deal, but that the reason being proferred for it is the unwelcoming tax and crime environment in New York City, a "reason" which i suspect is not the whole story:

It’s not exactly a well-kept secret that New York has not been the most welcoming or pro-business state in recent memory.

From 2020 to 2023, New York lost nearly $1 trillion in asset management companies as 158 companies moved out of the state.

The Tax Foundation’s “2024 State Business Tax Climate Index” ranked New York 49th for its tax system, only beating New Jersey.

New York City’s vacant storefronts have nearly doubled since the COVID-19 pandemic.

New York Mayor Eric Adams seemed more occupied with providing free food, free housing and pre-paid debit cards to illegal aliens than he is with fighting the state’s precipitous downfall.

The city had plans in motion to give illegals spending money via cash cards in March as they threw out free food they didn’t want.

The streets aren’t welcoming, either. Whether you’re a regular New Yorker at church or a famous actor like Steve Buscemi, it’s not out of the ordinary to be the victim of a vicious assault while having the audacity to keep to yourself.

This rather gloomy assessment from The Gateway Pundit ends on a cautionary note not to give up too quickly on New York City (and indeed, we've seen it bounce back before);

While we shouldn’t kid ourselves about TXSE’s creation, as there are around 13 stock exchanges in the country, it does fit well in the broader trend playing out.

Wall Street is a hallmark of New York as the financial heartbeat of the country.

True enough, except that when enough corporations pick up and move away, pretty soon Wall Street itself becomes yet another vacant store front.

None of this, however, is what concerns me about the current article, and my guess is that many of you have spotted the same thing and have similar concerns: BlackRock as one of the investors in the exchange? In a state that has already opened its own bullion depository?:

The TXSE group will file with the U.S. Securities and Exchange Commission later this year with over 24 investors and $120 million in capital. Chairman and CEO of TXSE James Lee posted on his Linkedin that investors will include names like BlackRock and Citadel Securities.

Notice something else: the article notes that there are actually a few small stock exchanges already in existence, and not all concentrated in New York City:

While we shouldn’t kid ourselves about TXSE’s creation, as there are around 13 stock exchanges in the country, it does fit well in the broader trend playing out.

So what are we to make of all of this? What do we get when we consider "as one" the following things? (1) Several states passing bullion laws, removing sales tax on it, or (2) passing laws recognizing specie as legal tender, or (3) passing laws against central bank digital currency, in some cases excluding it from the legal definition of money; or (4) passing other types of state laws, some nullifying any would-be federal treaties establishing the World Health Organization as a legal jurisdiction within the state, and so on?  What happens when we view the Texas Stock Exchange in conjunction with all the rest?

I submit that one thing this story is not is merely a story about the establishment of yet another small local exchange. Like those other exchanges, it is an attempt to build a parallel financial system, including a system for the sale and clearing of  securities. It's what you do when you're trying to build redundancy and robustness into a system, and de-centralize potential targets. But it is also a "hedged bet", the sort of planning one makes when one is considering every possible scenario, including the possibility of a systemic financial collapse, or a crackup of the country, or what-have-you.  One might even speculate that certain types of equity securities can only be traded on certain local exchanges in yet another move to de-centralization. In other words, rather than centralized exchanges serviced by a network of dispersed brokerage houses,  one now might have the beginnings of a network of exchanges perhaps served by more regionally centralized brokerage houses in a kind of reversal of the basic structure of the current system. Again, the BlackRock presence in all of this seems to suggest this as one possibility.  There are many others, including a more or less greatly decentralized system (and, yes, perhaps a greatly decentralized system for the distribution of the actual paper securities for anyone wanting or desiring physical possession of them. That's a topic for another time.)

Whatever one may think of these high octane speculations, I do think probably everyone who is pondering this news would agree that this story is one to watch closely and carefully, because the long term plans and private thinking of the groups involved in its creation will be quickly revealed as the nuts and bolts and scaffolding of the structure begin to be put into place over the next few months. From the standpoint of supporting local and regional businesses, the idea of a Texas Stock Exchange is not only huge news, but a valuable resources to the region. So watching the architecture being built will show a great deal about the long term thinking of its planners; exchanges are complex systems, and the architecture that emerges will tell us a great deal...

...See you on the flip side...

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".

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  1. Randy on June 11, 2024 at 12:36 pm

    Umm sher ! ALL this ‘theater’ going ON ( cuz the peeps r light’n torches & sharpening the forks ) “we’ll” break up so the good people can stay over here & the bad people can stay over there ? It’s just the same old bullsh?t folks !!! . ONLY PROBLEM IN THIS COUNTRY going on is …. Bad guys R doing what bad guys do !!! & the good people REFUSE TA DO GOOD !!! the good people in THIS country REFUSE TA enforce THE constitution/ bill of rights ,REFUSE ta sit on juries & DO THE RIGHT THING !!! , REFUSE TA STAND FOR RIGHT !!! DEMAND that goodness SHINES !!! DEMAND CIVILITY IN EACH OTHER !!! & ALL this doesn’t hav ta B by force ? …just by choice The USA has the BEST framework for an government ON this 🌎 , bar NONE!!! (y is it that ALMOST EVERY citizen on this planet WANTS TA B HERE ? ) ‘something’ draws people here ? CALL IT WHATEVER YA WANT TO ? but ALL of us choose !!! & it’s absolutely 💯 % FREE , just like 😀’ing IS DOESN’t COST a gad damn thing ! ‘cept an choice free …umm 💯 % CERTAIN!!! that umm the dumbest ass ON this site & 💯% CERTAIN!! that I’d be last in class !! hehe 🙃 wittle & boil ALL our so-called ills in this country down & tell me making better choices wouldn’t FIX MOST if not ALL our ills ??? & it’s free free free free ( & YES I text / type this way on purpose, I rage against the machine lmao ) 😃 At an stranger once & SEE what happens. & IT doesn’t cost u an thing “A harmless man is not a good man . A good man is a very, very dangerous man who has that under voluntary control “ JBP choices

    • anakephalaiosis on June 11, 2024 at 11:35 pm

      Hypocrisy is a state of the art, that cloaks itself, by posing, as moral high ground.

      At some point, veils wear thin, and masks fall off, and mascara won’t hide the corpse.

      Denial of reality is, what defines insanity, and, when asylum is sane, then world is mad.

      Sanity is knowing the difference.

      • anakephalaiosis on June 12, 2024 at 12:11 am

        BTW, Team Christ runs into a bit of a snag, when competing narratives start to emerge, because faith-based systems don’t have redundancy.

        Once upon a time, there was redundancy, before Samuel unhinged the narrative, by elevating authority, on his sole say-so.

        It means, that the northern kingdom kept redundancy, and its wits about, while Jerusalem was parading the pompous donkey.

        Sanity is to be found, where Samaria went, and fallen Samaria rose in Crimea.

  2. InfiniteRUs on June 11, 2024 at 10:56 am

    Well, if the rumors of splitting the US up into two separate countries has a sliver of potential(A southern extreme right nation and a Northern extreme leftist nation) then the usual suspects (of the sort who head Blackrock) would naturally need to set up control of their new right hand markets. What better way to keep the US out of future foreign affairs then to have perpetual conflict(or the threat of perpetual conflict) between their right and left hand puppets. Keep our awakening, unchosen billionaires and political leaders too busy worrying about each other than to interfere with the new shift in world power and dominance to the burgeoning new capital of the world Jerusalem. Controlling the money supplies and markets of both the right and left US split ensures control of their leaders and people and perpetual civil war.

  3. enki-nike on June 11, 2024 at 7:57 am

    The TEXIT movement is growing. The Texas GOP has recently added secession to its official 2024 party platform and a referendum will be held in the next statewide general election.

  4. anakephalaiosis on June 11, 2024 at 5:57 am

    The empire moves on, to another location, when the concept of honour has been completely depleted, like an emptied out goldmine.

    Because even the crime-ridden cesspool can’t operate, when the backstabbings are no longer hidden by night, and have become the order of the day.

    It is the Texan code of honour and valour, that attracts the viper, because chutzpah is an empty sack, that can’t stand upright on its own.

    Originally, honour is produced, in natural state, forged, by truce between clans, into a social contract, by a runic recipe, i.e. Elijah’s rebus of lifespan:


    • anakephalaiosis on June 11, 2024 at 6:16 am

      BTW, knowing, that honour is, what attracts the viper, then honour has been taken off the table, which means becoming a dragon.

      It means, that open societies are no longer being produced, and, Moses’ reptile banner says: “don’t tread on me”, as a warning.

  5. anakephalaiosis on June 11, 2024 at 4:23 am

    1. There is a viper wriggling its way, from Nineveh to Babylon, to Macedonia, to Rome, to Venice, to Amsterdam, to Wall Street, to Texas, and it moves around the globe, upon the chessboard of history.

    2. Parallell, there is an oligarchic offshooting, sideways, which gives rise of provincial tyrants, who produces safe zones, as storm shelters, when the previous pump-and-dump scheme collapses.

    3. The Hollywood pretending game produces deception, to keep the indigenous starstruck, dazzled by idolatry, in pomp and circumstance, mesmerised by royal snakes, dancing on thrones.

    4. In response, there is Scythian Odin, whose two brothers are logic and reason, and he chops the head of the snake, and toasts it to hell, by its own skull, made into a cup, which is known as the Holy Grail.

    5. Crimean renaissance occurs, when Scythian ethnogenesis is remembered, as Asgard in Crimea, and from there, the Scythians entered Europe, as mounted steppe warriors, organised, by Elijah’s runes.

    6. Team Christ must saddle up, and buckle down, because Abram’s Constitution is based on logic and reason, not “Lord thy God”, because the latter is a Roman deception, to ensure worship of an imperial idol.

    7. “Don’t tread on me”, because a man can be a cold-blooded reptile too, when the lion of the Vanir, becomes the dragon of the Aesir, which is Moses’ snake on a stick, and St. George’s Scythio-Russian emblem of self-conquest: the Seventh Seal.

    Moses crosses the Bering Strait, to reach Holy Crimea, because he is already there.


    • anakephalaiosis on June 11, 2024 at 4:44 am


      Siegfried fought shadow, in fall of eve,
      that countered his every move,
      and night threw day
      in shadow play,
      until standstill bade it leave.

      Siegfried swung around, and no more,
      was shadow on forest floor,
      and drawn to light
      another fight,
      found dragon guarding door.

      Siegfried cast gaze, into forest bonfire,
      as mirror image of own desire,
      burning fast and slow
      in gold, to know,
      that world soul is dragon fire.

  6. marcos toledo on June 10, 2024 at 11:36 pm

    People fleeing the cities well half of the remaining indigenous populations were deported to these death traps in the middle of the last century plan final solution perhaps as for moving the stock exchange to Texas it’s just the looters changing their address looting as usual.

  7. NitaWess on June 10, 2024 at 9:49 pm

    Getting out of NY also makes me think about PSYOPs and the constant rumors about the most likely cities to be hit by a catastrophe(s)….involving the usual suspects. Just wondering….

  8. Robert Barricklow on June 10, 2024 at 9:35 pm

    It’s been in the works for sometime; as Dr. Farrell has predicted.
    Wall Street wants out of its obligations to the country.
    Wall Street will cut as many throats as necessary, to cut those obligations.
    And will do so, in a New York second.
    Actually, in an exchange – nanosecond.

  9. Steve.Jinks on June 10, 2024 at 7:39 pm

    great prospective piece.

  10. cobo on June 10, 2024 at 6:27 pm

    Dude picked me up hitchhiking 147 kilometers north of Ciudad de Oaxaca. He had left Chicago with about 200$, hit a couple poker games, and was ready to travel. He later wrangled his way to become a trader on the Chicago Board of Trade. Sooo – leaving everything else out.

    I should get to know the boys down at BlackRock. Because.. I want to build an obsidian pyramid on Mesa Redonda, just south of San Diego and a little east of Tijuana. And after reading your books, does gold mean anything to anyone, anyway… ?, except for its electrical and artistic uses :- /

  11. rohat77 on June 10, 2024 at 11:41 am

    Relative to this news, I just wanted to shine the light on Intercontinental Exchange, Inc. (ICE) which is based in Atlanta, Georgia, another Southern State. ICE also OWNS the New York Stock Exchange (NYSE).
    Blurb: “an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services… the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange; equity options exchanges; and OTC energy, credit, and equity markets.”
    Maybe the South will rise again.

  12. anakephalaiosis on June 10, 2024 at 6:05 am

    When an empire is imploding, it will seek storm shelter, in a lesser province, where it will clone itself, in an attempt to weather the storm.

    It is, at that point, that Dorothy Gale, from Kansas, shows up with a mini nuke, and threatens to blow a fuse, to kingdom come.


    • anakephalaiosis on June 11, 2024 at 6:46 am

      BTW, in Europe, outside the USA, one needs a VPN, to see the Farscape loophole, which depicts Dorothy Gale, being swallowed, by a wormhole, into an alternative universe.

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