Texas "Pulls" $ One Billion in Gold Bars from Fed Depository as Economic Twin Towers Collapse
There is so much evidence and examples out there of entities who are positioning themselves for major financial upheaval, that even the mainstream is losing its ‘rosy’ propaganda battle as ‘the emperor fiddles while Rome burns’ (or while the band plays as the Titanic sinks).
During 2011 an endowment which oversees funds held by the University of Texas System and Texas A&M University, had taken possession of physical 6,643 bars of bullion gold, or 664,300 ounces, in a Comex-registered vault in New York owned by HSBC, a London-based bank (as opposed to ‘paper gold’ as in the Exchange-traded Fund, ‘GLD’).
And now, in 2015, Texas Governor Greg Abbott has signed a bill (HB 483) into law on Friday, June 12, that will allow Texas to build a gold and silver bullion depository. In addition, Texas will repatriate their $1 billion worth of bullion from the Federal Reserve in New York to the new facility once completed.
The writing is on the wall – institutions are losing faith and trust – and are transitioning or converting into ‘physical’ ‘real’ money, before it’s too late…
Distrust
“In a lot of cases with gold you may not have clear title to the metal. You may have a counterparty relationship that makes you a creditor. If the counterparty has a problem unrelated to gold, they can default and then you become an unsecured creditor in bankruptcy,” said Keith Weiner, president of the Gold Standard Institute.
This means you get whatever is left after liquidation, often just a fraction of the initial value of your holdings.
This appears to be a smart move by Texas.
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Excellent Post, Tom Dennen!
The Fed grows more and more irrelevant on the World currency stage every day that goes by.
Evidence as to the next steps taken by states here, in the USA, can be seen in Texas demanding approximately one billion dollars in gold bullion moved from a Fed Locale back to the State of Texas (as reported here on BIN).
The States will start to issue their own currencies, as the Fed dollar fails.
North Dakota’s fed Free Bank already issues it’s own currency.
Texas is just following suit.
Just what exactly is a “God” bar? I am referring to your headline. I think I’d like a couple of “God” bars. If they couldn’t protect you from the crash, then what could? How much are they?
Just checking… they’r metal-based monetary equivalent of the Higgs Boson
Well….Texas has just suffered severe weather and has also just dragged the U.S. President thru a nasty court battle.
It can’t very well ask for Federal relief after THAT…now can it?
Also, it’s pretty sad that NO BANK will loan the state of TEXAS the money to cover those repairs. It’s not as if Texas isn’t good for it…..