Tuesday, April 16, 2013

Texas is shooting to reclaim it's gold

According to the Star-Telegram

Texas Rep. Giovanni Capriglione has introduced a bill that would establish a gold depository run by the state, and he has Gov. Rick Perry's support.

In the article, Capriglione, Perry, and former Congressman Ron Paul all showed strong support for the idea of Texas reclaiming its gold from the federal government:
"Something on the scorecards of a lot of these businesses in deciding whether they want to come to Texas is stability and gold as being one of those items," Capriglione said. "I think it's been in his consciousness for a while in trying to get some sort of depository in the state of Texas."
 "If we own it," Perry said, "I will suggest to you that that's not someone else's determination whether we can take possession of it back or not."

Read more here:
 "If you think gold is a hedge, or a protection, you always want it as close to the individual and the entity as possible," Paul told The Texas Tribune on Thursday. "Texas is better served if it knows exactly where the gold is rather than depending on the security of the Federal Reserve."

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 All of this makes sense, considering the Federal Reserve's inner secrets still escape government audits to this day. Paul's "Audit the Fed" bill passed the House during the last session, but Majority Leader Reid refused to bring it up for a vote in the Senate despite his strong support for an audit earlier in his career.

With all of the complex currency swaps that are constantly being made, it would not be surprising to find out that most or all of the gold held in Fort Knox and the New York Federal Reserve Bank is either gone or owned by a foreign government.

Should it still be there, it is in the interest of Texas to hold on to its gold as protection against a currency crisis which is almost guaranteed with the nation's debt levels and willingness to pay for it with the hidden tax, inflation.

It is likely Perry is taking cues from Paul, but also Wall Street veteran Jim Rickards, whom he cited during a Presidential debate as heavily informing him on currency issues.

Here is a recent interview of Rickards discussing and voicing support for the depository plan:

Vintage Ron Paul supporting the gold standard during his Congressional run in 1976.

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