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Thursday, May 28, 2015

Fwd: Texas Senate Passes Bill to Establish Bullion Depository, Help Facilitate Transactions in Gold and Silver

Subject: Texas Senate Passes Bill to Establish Bullion Depository, Help Facilitate Transactions in Gold and Silver
 
 
From: Hawkeye
Sent: Wednesday, May 27, 2015 7:21 PM
To: Undisclosed-Recipient:;
Subject: Texas Senate Passes Bill to Establish Bullion Depository, Help Facilitate Transactions in Gold and Silver
 

Texas Senate Passes Bill to Establish Bullion Depository, Help Facilitate Transactions in Gold and Silver

AUSTIN, Tex. (May 26, 2015) – A bill taking a step towards gold and silver as commonly-used legal tender in Texas passed in the state Senate today by an overwhelming 29-2 vote.
Introduced by State Rep. Giovanni Capriglione (R- Southlake) and four co-sponsors on Feb. 12, House Bill 483 (HB483) would create a state bullion depository. It reads, in part:
(a) The Texas Bullion Depository is established as an agency of this state in the office of the comptroller.
(b) The depository is established to serve as the custodian, guardian, and administrator of certain bullion and specie that may be transferred to or otherwise acquired by this state or an agency, a political subdivision, or another instrumentality of this state.
What the bill essentially does is create a means for transactions to occur in precious metals. It allows people  to open an account and deposit their precious metals in the state depository. They could then use the electronic system to make payments to any other business or person who also holds an account.

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