This US State Is On The Verge Of
A Silver & Gold Revolution!
The Doc
The state of Texas is now considering a piece of legislation regarding gold & silver which would be nothing short of revolutionary if passed…
Restoring Sovereignty, One State at a Time
As
we recently observed, the “brilliant” elites in DC are currently in
full retreat across a broad spectrum of international issues. From
being routed on the issue of a Russia/China-led bank in Asia, to having
their IMF storm-troopers thrashed in eastern Europe, it’s wonderful to
see them with their tail between their legs on such a regular basis!
Make
no mistake, others have taken note of these defeats here in the States,
and it has given them hope. In fact, many of those folks are now
thinking the time is perfect to finally push some some meaningful
reforms in their own communities. That’s exactly what we’re gonna be
looking at today!
As I promised back on Friday,
I wanted to let our shield brother community know of some encouraging
news in the effort to restore honest money here in our lands. Recently,
there has been some very promising news on that front, as one state in
particular here in the US, is now considering a piece of legislation
which would be nothing short of revolutionary if passed.
How We got Here
First though, a short bit of background. In 2011, Utah became the first State
to take a step towards constitutional money again, when Governor Gary
Herbert signed legislation removing all state sales taxes on gold and
silver purchases, and declared bullion to be legal tender. Many other states soon followed suit, including: Louisiana, Oklahoma, and Texas, to name a few. Other states can be checked at statelegaltender.com.
Overall these
laws have been positive developments, as they’ve allowed stackers to
acquire more bullion without cumbersome taxes, and they’ve raised the
awareness level of the importance of precious metals as legal tender
quite a bit. They also helped change some of the state tax codes to
finally recognize gold and silver as actual currencies, rather than just
assets.
That’s a huge step forward!
“Ok,
wait a second, Watchman! That’s nice and all, but those bills didn’t
even provide a way for people to use their metals to pay others. Those
bills called gold and silver ‘currency’, but didn’t provide a way to use
them for currency!”
Ahhhhh,
right you are, my friend, and I was just getting to that, because
someone is now taking it the extra step, and attempting to do
something monumental. I think you’re gonna dig this!
For you see, the State of big heroes, big skies, big-horned cattle, and, hmm, really, big everything….now has a truly big idea!
Yes, Texas is now considering a bill which would go far, far beyond what those previous bills did.
Let me explain it, to the best of my understanding.
One Giant Leap for Texans
Their legislature now has two bills in committee, dealing with precious metals. The first is SB1245:
it’s only a few paragraphs long, and basically reaffirms silver and
gold as legal tender, and as currency. It doesn’t really tread any new
ground, however, it’s being brought forward right now to complement
another law in consideration, one which does blaze a trail through a
great deal of fresh territory.
That bill is called SB989, and it is rather long, but once you see what it does, you’ll understand why.
This
new bill actually lays the groundwork to establish the US’s first
state-run gold and silver depository! This idea was first looked at
several years ago when Texas A&M bought physical gold ,
and needed somewhere safer to store it than with HSBC crooks in New
York City! Sadly though, it was put on the back burner for a time, but
is now back with a vengeance.
Ladies
and gentlemen, this is huge deal. In the past, though many states had
removed sales taxes from precious metals none of them had provided an
official outlet for conveniently using those metals to transact and do
business with others.
If this bill passes, there will soon be just such an outlet.
How Does it Work?
To start things off, this depository would be a depository network, run by Texas, and would allow several things:
1)
Firstly it would allow any person to establish their own account at the
depository, to safely store their precious metals there!
Here’s the really neat part though:
2)
Secondly, and even more importantly it would enable anyone holding an
account there, to transact and do business with others who also held an
account there, all electronically!
Say
you owned your own business, and you’ve stashed away some savings in
silver eagles at the depository for safe keeping. Good for you! Then
one day, when you contacted your supplier, you discovered that they too
have an account with the depository! Now you can both use your
electronic balance of metals stored there, in order to transact with
each other, without those metals ever having to leave the depository!
“I don’t know Watchman, that gives me the heebies! I mean, I don’t want any banking institution holding my metal!”
Brother, I get that!
This won’t be a banking institution, and this isn’t a bank account. It
is classified as a “custodial account”, and the state depository simply
holds it for you, and enables it to change hands, easily and seamlessly!
They’ll also keep a tight leash on those who can oversee such
custodial accounts, by licensing any and all depository branches. Those
branches will be required to submit regular accounting records to the
state, and their employees will undergo extensive background checks
before employment can be given.
“Well,
that’s great Watchman, but what about interest payments? If we start
letting the depository charge interest or pay interest on the bullion
that’s in their care...then suddenly you bring debt into the equation,
and the metals stored there would always be one person’s asset, and
another person’s debt! I can’t support that!”
Excellent point!
That’s
why I’m most happy to tell you, that this bill strictly prohibits the
depository from charging or paying any interest on any bullion
whatsoever! It’s not a banking institution, but simply a facilitator,
which acts as a giant safe,6 and electronic transfer system.
Ahhh,
but there’s another neat part about this bill that really kicks it up a
notch! For the first time, not only will you be able to safely store
your metal, or use it to transact with other account holders…
But
the state and local government would actually accept gold and silver as
a means of payment for taxes, for liens, and other fees through your
custodial account!
Brothers, do you know what this means?
It means that finally(at long last) that eternally-annoying, ever-bogus line of,
“Gold and silver are so lame, I mean, you can’t even pay your taxes with it!”...will finally be laid to rest…alongside the Dodo birds, and woolly mammoths of yore!
Yes, I know….it’s ok if you need a Kleenex! I won’t judge!
But wait! There’s more!
Just when you thought you’d awoken in an alternate reality where dairy cows give single-malt Scotch, it gets even more surreal…
This
bill would now give you the chance to tell your local governments to
pay any refunds or payments to you…..in gold or silver!
Its Limitations
Now,
don’t get all crazy on me or anything, remember, this bill is still
simply being considered(although calling your local Texas state reps and
expressing your support couldn’t hurt anything!), and isn’t the final
word on the best way to transact in precious metals.
After
all, even if Texas still passes this bill, they can’t do anything about
Federal capital gains taxes that would occur in these transactions.
Nor would such a bill enhance privacy, as every transaction would be on
record with the state itself. Those are still severe challenges to
overcome, to be sure.
In
all likelihood, though, this bill would probably result in many folks
still creating a custodial account for savings, and perhaps even
receiving state refunds in precious metals as well. But, holy cow
though, isn’t that enough for a celebration?
That
would be an enormous first step in a truly game-changing, monetary
direction, and a great step towards greater personal and local
sovereignty!
Conclusion
Texas
is a large state, and a trend-setter, so if this could be passed and
succeed there, it would likely lead to other state legislatures being
emboldened to try this approach as well. The mechanism itself is the
trickiest part, but if Texas could pull it off, it would provide a clear
frame of reference from which all others could easily start.
Though
not the “end all, this bill would still undoubtedly be revolutionary,
as it would make Texas the first state to actually create a mechanism
allowing precious metals to function both as savings and a means of
payment. Payments to and from individuals, or even inter-governmental
in nature, would again be possible. It would also increase real
competition in currency out there, as folks would have another option to
the crooked Federal Reserve notes we’re still being indebted by.
Since 1971,
when President Nixon severed the last link between gold and the US
dollar, the peoples of America have been almost totally at the mercy of
international, for-profit banks, like the Federal Reserve, the IMF, or
the Bank of England. Currencies like the U.S. dollar, have now been
borrowed into existence, saddling hundreds of millions of human beings
with unpayable debt. The savings of the peoples of America have been
eaten away, and destroyed by a government which has used all this
inflationary debt to pay for its numerous bad laws, and immoral wars.
It must stop, and it will stop.
Trust me, bills like this one coming down the pipeline, are very healthy indications that this may be due to change very soon.
Gold
and silver, alongside firearms, are still the best tools of
sovereignty in the hands of the people. So most any means of getting
more of those coins into folks’ hot, little hands is a great step
toward truly giving power to the people, and should be supported.
Gold
and silver aren’t merely fortresses to places your wealth in, they’re a
saw-offed, double-barreled shotgun of financial sovereignty. They
belong in any person’s arsenal.
You want to see the common man protected?
You wanna see him thrive and succeed?
You wanna see “the little guy” finally win one?
Secure his right to bare arms, put a few silver and gold coins in that same person’s hand…
And then watch out!
The winds of change are blowing across our old world, and they’re finally arriving here as well. That’s a most welcome thing!
For it’s high past time that they started refreshing us with their cool streams again!
What better way could the land of the Alamo tell the banksters,
“Don’t Mess with Texas!“?
What
better way could the Lone Star State fire a Texas-sized broadside at
financial tyranny, than to guarantee sovereign, custodial gold and
silver payment accounts to her citizens?
Such a thing could truly spark a new thirst for financial freedom in the hearts of people across the fruited plain!
That’s
something, which I believe, would do the likes of Sam Houston, Colonel
William Travis, James Bowie, and Davy” Crockett mighty proud, indeed!
By the way, if you’d like to thank the ladies responsible for proposing these bills, they can be found here, and here. Thanks also to everyone who donated, you guys inspire me to keep doing this!
