Texas Wants Its Gold Back From The Fed

Excellent interview.  Jim Rickards on Squawk Box yesterday.

Texas wants its $1 billion in gold reserves back from the New York Fed, and they hope to build a structure similar to Fort Knox to protect it.  It would be the nation's first Sovereign depository for private gold, and they also hope to pass a law that would protect the supply from federal government seizure.  Will it work and could other states do the same?

Rickards says it's "not a run on Fort Knox, it's a run on the Fed," and it's part of the slow and steady re-monetization of gold.  Rickards also discusses foreign nations bringing gold back...Venezuela, Germany, being debated in Netherlands, Switzerland.

It's all possible because of the 10th amendment:

The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.

Don't mess with Texas... especially their gold.

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Bonus clip:

Jim Rickards with Lauren Lyster.

The legislation by Rep. Capriglione would create the Texas Bullion Depository.  "We don’t want just the certificates.  We want our gold.  And if you’re the state of Texas, you should be able to get your gold."

The depository would be a secure state-based bank that would hold the gold bars owned by the University of Texas Investment Management.  No surprise that Ron Paul supports the plan, as he explains that the gold would be safer in the hands of Texans.

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

Source:

Ron Paul Backed Gold-Standard May Become Texas Law

Comments

[DailyBail]

Rick Perry's Official College Transcript - Mostly Cs And Ds, Barely Passed Principles Of Economics

http://dailybail.com/home/rick-perrys-official-college-transcript-mostly-cs-and-ds-bar.html

[DailyBail]

Perry accuses Bernanke of treason for central printing

http://dailybail.com/home/if-this-guy-prints-more-money-between-now-and-the-election-i.html

[Goliath]

The time for the "chosen ones" to rule our govt. is coming to a close. Soon we will have control of OUR MONEY SUPPLY back in our hands.

[Drutch]

They better test each and every bar to make sure it IS gold and not tungsten.

[DailyBail]

Allocated storage is the traditional way of holding precious metals. Clients purchase specific physical coins or bars from the Mint. The Mint removes these from its operating inventory and places them in the Perth Mint Depository vault under the client's account number (to preserve client's privacy from vault staff).

Allocated precious metal is therefore segregated from the Mint's operating inventory and is held under a custody arrangement. Allocated metal does not appear on The Perth Mint's balance sheet.

http://www.perthmint.com.au/investment_invest_in_gold_storage_options.aspx

[nyquil762]

DailyBail, you are joking, right?

[DailyBail]

Regarding what...

[Howard T. Lewis III]

Gold? What gold? On 9-11-2001, somebody was using U.S. Army trucks to steal the gold stored there in the basement of the World Trade Center. Two of these trucks never made it out. Not the Mossad, bucko. And sure as hell itself not Osama bin Laden or Palestinians. If people REALLY want to know where their gold went, they should first open their Goddamned eyes and look then tell the U.S. AG to swim to Guam. I pity the fool who believes in the U.S. congress. The Ministry of Unnatural Acts in the White House puts a whole new definition on the phrase 'ship up on the rocks'. Texas asking for their gold is part of something, like Tim Geithner hanging off Richard Perle in 1983 is part of something. This cabal plays with money and themselves.

[SKINFLINT]

Talk about printing money, I had several 20s in my hands today. There was Jack Snow, Hank Paulson, and Timmy g all accounted for. Just an amazing run when you think about if. The only person missing was Rubin.

[DailyBail]

The case for staying in gold

http://www.marketwatch.com/story/the-case-for-staying-in-gold-2013-03-26

[DailyBail]

North Korea threatens to strike U.S

http://www.marketwatch.com/story/north-korea-threatens-to-strike-us-reports-2013-03-26

[DailyBail]

TOKYO (MarketWatch) — The U.S. and South Korea signed a military contingency plan to respond to possible attacks from North Korea, Washington’s latest step to reassure its Asian ally as Pyongyang’s increasing provocations and China’s growing territorial ambitions fuel anxieties in the region.

http://www.marketwatch.com/story/us-seoul-plan-response-if-n-korea-attacks-2013-03-26

[carroll price]

Just because there's a Constitution and a Bill of Rights (10th Amendment) doesn't mean the federal government will pay any attention to either one. In fact, when the Federal government invaded the South, it ignored the Constitution and has been doing so ever since.

[TR]

I'll mess with Texas. The other 49 states will want their gold back also. Texas,you started something you can't finish. I guess Texas wants to fire on Fort Sumter.

[SKINFLINT]

Damn DB, looks like the NK's are getting ready to throw down some shit here. I think we signed off on some kind of agreement with the SK's. I worry more about China and the control on their end. Haven't read too much on this, but is certainly in their sphere of influence.

[Throb]

The Lauren Lyster Vid is "blank" in this browser. Her guests and interviews on RT Capital Accounts were no nonsense and very educational.

Member my early virgin watch of CNBC on the cable TV. That was the first time I heard the word "consumer". Sounds like the slave cast name those of us with Anglo patriarchs who left us names ending with "ER". Like "Wheeler", the slave cast that produced wheels, or "Hooper", the slave cast that built barrels. We are not consumers. We are producers. The president is not the leader of Americans. Americans employ the president and grant him authorizations to be leader of the those we employ in the military services, those we employ in non-elected civil services, executive office staff and to sign or veto checks sent up to him from that other group of limp dragons we employ, congress.

Polititicians are consumers bankers are consumers - food - infrastructure management - the flush of a toilet - money in their pockets and the roof over their head - they got that stuff only from us because we make it all work and we produced a surplus of value to put a a stipend in the offering bowl.

Now ya got CNBC with ghia head guy (Joe make sure the CNBC makeup tech has their glasses on after your driver drops you at the VIP entrance - sheesh) suggesting ETF are more logical than gold cause they are convertible. Sure as long as the underlying bets get or manufacture an FX or naked contract to produce an illusion of a market. HFTs are notorious for moving zero gain trades to different accounts and other forms of board painting.

Joe is associating gold buyers with violence insurrection and killers - why - gold confiscation to follow gun confiscation(?) - GE gets a lot of tax payer subsidies - a new editorial policy was faxed before the morning phishing for retail sucker rut began yesterday. Ain't the fact we are suffering a political class of employees a guy on TV says the un-audit-able Dielbold printed a plurality for - we don't live in communities - we live in a war zone - we are all suspected terrorists, at least according to the FBI snitch klan down at the SPLC: "White, christian college educated Americans who espouse the constitution are a high risk group". Does anybody here work at a company and call their employers "terror suspects" or, force them to get their ass-holes checked when they travel, make a phone call, send an email or visit a website - anybody? Can anybody claim an authorization to kill their employer on a whim? Thought not - but those the commons employs in their structures of government sure as shit have/

Mr HFT likes CNBC's morning shart session! Mr HFT prints an offer. What remaining retail suckers using those free eSig-EAmeriTrade clients being pushed on CNBC like they were Ad Council "Have you Seen Me" ads, pile in, ringing up order fees to locked in eSig-EAmeriTrade broker services - thus - giving Mr HFT an a ripe order queue to look at so he can determine his next open, of course, after (and only after) after Mr HFT immediately at no cost, contrary to the pay for every thing freshly baited e-Retail mullets eRetail terms, cancels his previous bogus open that generated the barrel of eRetail order-mullet to be phished and milked for every nickle and dime and penny their hopeful aspirations generously provide of out of their principal.

The beauty of co-locations is that ya don't need a broker, ya don't need a series 7 and ya don't pay for orders. Colocated exchange sion leverage and the electricity is on at CNBC! ETFs are a scam - they are split on a whim - they are combined on a whim and represent the goals of the alleged fund underneath them and the liquidity requirements of ETF fund managers. The biggest holder of S&P ETF shorts is UBS.

HFT's are trapped in a mobious loop. Ttypical manufactured central bank counterfeit carry behavior is gold sheds fiats when the market declines.Market up , gold up, mark down, gold down. Last couple of markets, after market future print and market print went one way, gold went another. It was amazing. After marker yield for all UST maturities have been printing up since today's close.The wester fiat monopolies have danced their constituents through a beautifully synced ballet to the rhythms of central bank extortion contortions and counterfeiting and with great care and precision managed to shed the sovereign value in a perfectly timed equilibrium. Ex - THE USD-EUR is about 1.28 today. It was that a couple of years ago, but back then the EUR and USD could buy more gold and more food and more fuel. THe FX is meaningless - the illusion of leverage is all that is left - there is no hedge - there is no value - there are no gains - the market is dead.

Thanks CNBC!

[DailyBail]

Throb

Refresh the page. Both videos work perfectly well. It's an issue with Flash on your computer. As I said, refresh your page, and then wait for it to load completely before scrolling down to the Lyster clip.

[chiller]

G O L D....Got Over Lousy Dollar....