3-22-2013
http://finance.yahoo.com/blogs/dail...t-hoarding-gold-secession-next-192407075.html
Texas May Start Hoarding Gold Secession Next?
A lawmaker has proposed a bill to create a Texas Bullion Depository, which would allow the state and its citizens to store gold bullion in its own facility in Texas, with the protection of the state.
If passed, the Texas bill would tell Washington to shove off under the 10th amendment power given the states, if we ever saw the kind of currency craziness we saw during the Great Depression when President Franklin D. Roosevelt mandated citizens hand over most of their gold.
As for the Texas proposal, Jim Rickards, senior managing director of Tangent Capital Partners and author of Currency Wars, tells The Daily Ticker you can think of it like the Fort Knox of Texas.
And on the legal side Rickards says, youve got the state of Texas standing up for you if the federal government tries to do what they tried to do in 1933, which is take the peoples gold." Rickards is also a lawyer and has read the legislation.
So, is Texas making preparations to start hoarding gold?
It may end up that way, Rickards says. Personally, I think this is a game changer in terms of the way institutional investors are going to look at gold.
Thats because large Texas pension funds havent been allowed to invest in physical gold, but Rickards explains this law would change that.
If people were to lose faith in the dollar, Rickards concedes Texas could have the foundation for its own currency, of sorts.
Which could come in handy if they, say, push forward in trying to secede.
http://finance.yahoo.com/blogs/dail...t-hoarding-gold-secession-next-192407075.html
Texas May Start Hoarding Gold Secession Next?
A lawmaker has proposed a bill to create a Texas Bullion Depository, which would allow the state and its citizens to store gold bullion in its own facility in Texas, with the protection of the state.
If passed, the Texas bill would tell Washington to shove off under the 10th amendment power given the states, if we ever saw the kind of currency craziness we saw during the Great Depression when President Franklin D. Roosevelt mandated citizens hand over most of their gold.
As for the Texas proposal, Jim Rickards, senior managing director of Tangent Capital Partners and author of Currency Wars, tells The Daily Ticker you can think of it like the Fort Knox of Texas.
And on the legal side Rickards says, youve got the state of Texas standing up for you if the federal government tries to do what they tried to do in 1933, which is take the peoples gold." Rickards is also a lawyer and has read the legislation.
So, is Texas making preparations to start hoarding gold?
It may end up that way, Rickards says. Personally, I think this is a game changer in terms of the way institutional investors are going to look at gold.
Thats because large Texas pension funds havent been allowed to invest in physical gold, but Rickards explains this law would change that.
If people were to lose faith in the dollar, Rickards concedes Texas could have the foundation for its own currency, of sorts.
Which could come in handy if they, say, push forward in trying to secede.
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