Texas Yanks $1 Billion In Gold From NY Fed… Makes It “Non-Confiscatable”

~aaz1310

This may be the first step down a road to secession… 

Blaze and Spitfire AMERICA’S FREEDOM FIGHTERS – 

With the economy in shambles and everyday we see more and more attacks on hard working Americans through taxation and outsourcing just to mention a couple problems. In my eyes it’s time to start seeing a movement towards a safety net so to speak in case of a total collapse, it’s only common sense.

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States need leaders and it appears one may have just stepped up to pave the way. Take a moment to think over the past few months as to how we have heard rumors of Texas being “invaded” by our government. Governor Abbot plans to activate the national guard to keep a close eye on Jade Helm exercises and now this. The writing is on the wall if you ask me.

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Tyler Durden at Zero Hedge reports:

The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now – as we noted was possible previously – Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed’s vaults to a newly established state gold bullion depository…”People have this image of Texas as big and powerful so for a lot of people, this is exactly where they would want to go with their gold,” and the Bill includes a section to prevent forced seizure from the Federal Government.

Texas Governor Greg Abbott signed a bill into law on Friday, June 12, that will allow Texas to build a gold and silver bullion depository. In addition, Texas will repatriate $1 billion worth of bullion from the Federal Reserve in New York to the new facility once completed. On the surface the bill looks rather innocent, but its implications are far reaching. HB 483, “relating to the establishment and administration of a state bullion depository” to store gold and silver coins, was introduced by state Rep. Giovanni Capriglione.

So far most of the attention has focused on the part of the depository and the big institutions. However, the bill also includes a provision to prevent seizure, which is important for private parties who want to avoid another 1933 style confiscation of their bullion by Federal authorities.

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Official Statement from Governor Abbott:

Governor Greg Abbott today signed House Bill 483 (Capriglione, R-Southlake; Kolkhorst, R-Brenham) to establish a state gold bullion depository administered by the Office of the Comptroller. The law will repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas. The bullion depository will serve as the custodian, guardian and administrator of bullion that may be transferred to or otherwise acquired by the State of Texas. Governor Abbott issued the following statement:

“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. 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.”

~a coin

It appears that on Constitutional grounds, Texas has a very strong case and an affirmative ruling would open the doors to other States following suit. I say it often, government has grown too large and is on the way to having even more control than they already have. It is up to us as states, communities and individuals to break the cycle of dependence that our liberal minded “leaders” have been pushing for sometime now.

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Dean James III% AMERICA’S FREEDOM FIGHTERS 

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