gold

Texas demands its physical gold reserves be returned by the Fed

Tuesday, April 02, 2013 by: J. D. Heyes
Tags: Texas, gold reserves, Federal Reserve

eTrust Pro Certified

Delicious Pin It
(NaturalNews) The seizure of privately held savings accounts by the government of Cyprus, in order to finance a European Union-led bailout, is having reverberations far beyond the shores of that bankrupt nation. In fact, they are being felt as far away as Texas, where lawmakers there are increasingly concerned that greedy secular progressives in Washington, D.C., might someday consider a similar tactic, in order to bail out a federal government which is quickly spending itself into oblivion.

As a financial bulwark against such theft, GOP Gov. Rick Perry is considering legislation that would "return the state's $1 billion in gold reserves currently stored by the Federal Reserve at a vault in New York," WorldNetDaily is reporting.

The bill is being sponsored by state Rep. Giovanni Capriglione, R-Southlake. In an interview with the Texas Tribune, the lawmaker said, "For us to have our own gold, a lot of the runs on the bank and those types of things, they happen because people are worried that there's nothing there to back up" their deposits.

Protecting The Lone Star State from official theft

Bank runs were feared in Cyprus following the government's decision to confiscate as much as 60 percent of savings accounts over 100,000 euros, so they were closed for several days before and after the government made its decision to rob both Cypriots and citizens of other countries who wrongly believed their money was safe. Initially, the government said it planned to steal 37.5 percent of savings; now, officials say they may take an additional 22.5 percent if "a bigger haircut" is needed.

And it's precisely that kind of financial mission creep that has Capriglione and other state lawmakers concerned.

He says his measure is "not about putting Texas on its own gold standard." Instead, it will "give the state a reputation as being more financially secure in the event of a national or international financial crisis."

Perry, in an interview with Glenn Beck, sounded determined that the state should not have any difficulty securing its gold from the Fed.

"If we own it, I will suggest to you that that's not someone else's determination whether we can take possession of it back or not," Perry said.

But where to keep it? Capriglione's bill establishes the Texas Bullion Depository, where the gold would be kept.

"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," said Capriglione.

The lawmaker said it would be impractical to transport $1 billion worth of gold bars (securely, anyway), so he said he would suggest the state sell its gold then repurchase it in Texas.

Interestingly, in this day of bitter partisanship, the legislation may get bipartisan support. WorldNetDaily reported that state Sen. Rodney Ellis, D-Houston, called it "an interesting concept," adding he wanted to consult financial experts on the idea and flesh out its merits or problems.

The rise of a new theft-proof currency?

The new-found bipartisanship, no doubt, stems from the depth and severity of the financial crisis in Cyprus - a crisis that has been worsening all across the European continent since the Great Recession of 2008-2009.

Cyprus nearly dissolved into chaos as the government and EU officials negotiated a deal to steal the people's money in order for the bankrupt government to borrow more money.

Cypriot banks closed March 16 but some reopened March 28, nearly two weeks later. When they did, banks posted armed guards out front and, in order to avoid collapse, limited withdrawals to 300 euros (about $380). Despite the theft, however, the Cypriot government is still looking to "raise" another 8.3 billion.

The fiscal crisis there, and more importantly, the government's response to it, has sparked a surge in virtual money that exists only online - bitcoins - as our editor, Mike Adams, the Health Ranger, has written about recently. Bitcoin, he wrote - which are now accepted at the Natural News Store - "is a decentralized, peer-to-peer, "revolutionary" electronic currency that bypasses central banks and government controls. All transactions are (virtually) free, and bitcoin money can be freely sent or received globally, from any country, with no regulations or restrictions. (http://www.naturalnews.com)

Sources:

http://www.wnd.com

http://www.theaustralian.com.au

http://www.bloomberg.com

Get breaking news alerts on GMOs, fluoride, superfoods, natural cures and more...
Join over four million monthly readers. Email privacy 100% protected. Unsubscribe at any time.


Have comments on this article? Post them here:

comments powered by Disqus

Take Action: Support NaturalNews.com

Email this article to a friend

Permalink to this article:

Reprinting this article: Non-commercial use OK, cite NaturalNews.com with clickable link.

Embed article link: (copy HTML code below):
Most Popular
Today | Week | Month | Year

See all Top Headlines...



GET SHOW DETAILS
+ a FREE GIFT

Now Available at ShopNaturalNews.com

O3 Essentials OraJuvenate™
A powerful, cleansing dental cream for maximum oral/dental health.
New Cancer Solutions
Over 3 hours of content covering today’s best cancer tests, how to kill cancer cells and the best diets and exercise routines.
Freeze-Dried 100% Organic Whole Corn
Our freeze-drying method preserves taste, texture and nutrients better than any other food preservation method ever invented.
Fenix TK35 Flashlight
Tough, waterproof, extremely bright and it’s touted to throw an 800+ lumen beam more than 1,000 feet into the night.
Inca Treasure Smoothie Pack
This pack of our four most popular superfoods from South America is the perfect combo pack for smoothie lovers.
Pink Himalayan Salt
This salt delivers significant levels of magnesium, zinc and selenium, with trace levels of dozens of other elements.
Pinhole Glasses - Aviator Style
Pinhole glasses are becoming famous for helping people improve their vision without the risks of laser surgery.
Oxy-Rich Facial Serum
O3 Essentials Jojoba Oxy-Rich Facial Serum is cellular nourishment for your skin. Helps smooth fine lines while enhancing tissue elasticity.
Freeze-Dried 100% Blackberry Halves
Our freeze-dried blackberry halves are grown in Serbia under strict organic standards.

Also on NaturalNews:

Health Ranger Videos
Activist music
CounterThink Cartoons
Food documentaries
FREE Special Reports
Podcasts
Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

Most Popular Stories

Flu shot kills 19-year-old, but vaccine industry still has total immunity against lawsuits
Here's a nutty fact: Eating more tree nuts lowers the risk of all-cause death by up to 20 percent
Six important facts you're not being told about lost Malaysia Airlines Flight 370
Malaysia Airlines Flight 370 now clearly a government cover-up: All evidence contradicts official story
10 other companies that use the same Subway yoga mat chemical in their buns
BLM fracking racket exposed! Armed siege and cattle theft from Bundy ranch really about fracking leases
High-dose vitamin C injections shown to annihilate cancer
U.S. treating meat with ammonia, bleach and antibiotics to kill the '24-hour sickness'
USDA to allow U.S. to be overrun with contaminated chicken from China
Vaccine fraud exposed: Measles and mumps making a huge comeback because vaccines are designed to fail, say Merck virologists
Battle for humanity nearly lost: global food supply deliberately engineered to end life, not nourish it
Diet soda, aspartame linked to premature deaths in women

25 Amazing Facts About Food

This FREE downloadable report unveils a collection of astonishing and little-known facts about the food we eat very day. Click here to read it now...

 

Resveratrol and its Effects on Human Health and Longevity - Myth or Miracle.

Unlock the secrets of cellular health with the "miracle" nutrient Resveratrol Click here to read it now...

 

Nutrition Can Save America

FREE online report shows how we can save America through a nutrition health care revolution. "Eating healthy is patriotic!" Click here to read it now...

The Healing Power of Sunlight and Vitamin D

In this exclusive interview, Dr. Michael Holick reveals fascinating facts on how vitamin D is created and used in the human body to ward off chronic diseases like cancer, osteoporosis, mental disorders and more. Click here to read it now...

Vaccines: Get the Full Story

The International Medical Council on Vaccination has released, exclusively through NaturalNews.com, a groundbreaking document containing the signatures of physicians, brain surgeons and professors, all of which have signed on to a document stating that vaccines pose a significant risk of harm to the health of children. Click here to read it now...

Health Ranger Storable Organics

GMO-free, chemical-free foods and superfoods for long-term storage and preparedness. See selection at www.StorableOrganics.com



Recommended Resources On:

Natural News trends
Health Ranger news
Natural News GMOs
Mike Adams tracker
Natural News photos
Natural News Global
Natural News in focus
Natural News connect
Natural News shocking stories
Natural News radar
GMOs
Quackwatch
Vaccines
Health freedom
Dr. Paul Offit

This site is part of the Natural News Network © 2014 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

eTrust Pro Certified Android app on Google Play

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.