Texas Gets Gold & Silver Depository After Governor Signs Law Into Law – TDV Week In Review, June 14, 2015
On Friday, Texas Gov. Greg Abbott signed the bill establishing the nation's first state-level gold depository. This could be an important stepping stone along the way towards making gold and silver oft used legal tender in Texas.
As Jeff Berwick wrote here at TDV on the bill:
Texas has moved to repatriate its gold as well. The Texas Legislature approved the creation of a Texas Bullion Depository where the state and precious metals investors can store metals reserves.
Teas has $1 billion-plus in gold currently stored in other states.
Rep. Giovanni Capriglione, R-Southlake, labored for two years so that the comptroller’s office would create the depository.
“When I filed it, I just got these letters from literally all over the world,” Capriglione said. “People were saying, ‘I want to put my gold in Texas.’ They just have this image of the wild, wild west.”
Texas also pursued a bill that would allow Texans to use gold or silver pieces (American Gold Eagles & American Silver Eagles) minted by the federal government as legal tender, a law that Utah recently passed.
As State officials told the Houston Chronicle, “No other state has its own state bullion depository.” As the bill states:
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.
As yet, the location for the secure storage of precious metals in the state of Texas has yet to be decided. As the governor said on Friday:
“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals,” said Abbott. “With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.”
The bill is already in effect because it received more than a 2/3 vote in each chamber, as the House passed it 140-4, with the Senate passing it 27-4. The measure could “repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas.”
The team here at TDV keep a close eye on the retail and wholesale bullion market and we have noticed, based on sales at the retail and wholesale levels, as well web-site traffic for precious metals related websites, there has been a slight, possibly short-term uptick in gold and silver purchase and inquiry interest in the past two weeks.
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the TDV Newsletter, actionable advice helps readers create game plans to survive The End Of The Monetary System As We Know It (TEOTMSAWKI). This week, TDV looks into BitGold and its prospects for growth and success. Jeff Berwick looks into coming false flags and terrorists attacks, while Ed Bugos looks at recent TDV gold and banking predictions, with the expatriation team taking our readers to learn about the real Venezuela.
A JOURNALIST UNDER MARTIAL LAW
JUNE 12, 2015
Jeff Berwick
Police are everywhere. My ID has been checked more times than I can remember. This is a police state, and the number one suspects are journalists. Charlie Skelton’s account of police in his hotel room going through his things while in his nude then taking him to his car to search that is merely one example of the conditions under which those of us who are here to cover the Bilderberg conference find ourselves.
G7 IS A SHOW – THE REAL DEAL IS AT BILDERBERG
JUNE 11, 2015
Just like with anything in life you never really know what is going on until you see it with your own eyes.
I described last weekend how the G7 was so different from what I expected. They should just call the G7 a big party for journalists… that’s almost all it was. Journalists, thousands of them, were feasting off of $900 bottles of champagne, amazing food and treated to shows, DJs and parties while they waited for Barack O’Bomber to show up and eat some sausage and drink some beer and get their photo. In many ways it seemed like those parties the elite have in the movies “The Hunger Games” and laugh about the poor people in the districts.
Jeff Berwick
CARTIER OWNER WARNS FELLOW SUPER RICH THEY CAN’T TAKE ALL THE SPOILS
JUNE 9, 2015
Jeff Berwick
Many super rich individuals have spoken up about problems in the global economy. Johann Rupert, the owner of Cartier Jewelry and Chloe fashion worth approximately $7.5 billion (according to Bloomberg), is merely one of the many who have warned about the very same economic crises we here at TDV write about daily.
“We cannot have 0.1 percent of 0.1 percent taking all the spoils,” said Rupert. “It’s unfair and it is not sustainable.”
G7 PLEDGES TO END FOSSIL FUEL USE WHILE CRUSHING ALTERNATIVES
JUNE 8, 2015
Jeff Berwick
One of my favorite topics to write about is how government people do not understand economy and thus any efforts they make to “regulate” it for “the greater good” turn into epic failures that end up further impoverishing people all over the globe. Nearly all of the regulations put in place directly benefit the rich and hurt the poor, while the government says it is to protect the nation.
THE G7 IS A GIGANTIC WASTE OF MONEY – THE WEEKEND VIGILANTE JUNE 6, 2015
JUNE 7, 2015
Jeff Berwick
Hello from Garmisch-Partenkirchen in Bavaria,
The seven most indebted countries in the world decided to descend upon this scenic Bavarian town and take it over for the weekend. And when I say take it over, I mean take it over!
Inside sources say that there are 38,000 police in town this weekend in this sleepy mountain village.
I spent the earlier part of the week in North Eastern Germany near Dresden and during my entire trip and drive down south I never saw one policeman or police car. Not one. I drove down the autobahn at speeds averaging 150 miles per hour and spent most of my time in the slow lane as BMWs, Ferraris, Audis and Porsches flew past me on the left. It was wonderful and is the way it should be.