The Only State-Run Depository Prepares to Go Global

[Natural Citizen]

This is big deal.

Prepare for the crack-up.

Texas is.

It's particularly interesting given that Texas has also been openly defying Biden's policies.

This is very likely the most important topic on the board. I had a thread some place else around here a couple of years ago when the state first opened the country's only state run bullion depository. I'd append this to that thread, because it's directly germane to why I'd mentioned it in the first place, but can't seem to find it.

Anyway...

The Texas Bullion Depository: The Only State-Run Depository Prepares to Go Global

 

[Natural Citizen]

Of note, from the report...

''In summer 2018, Texas began operating the nation’s only state-run bullion depository, a highly secure, government-backed storage facility comparable to the U.S. Bullion Depository in Fort Knox, Kentucky, which holds federal gold reserves. Now the Texas Bullion Depository (TxBD), which experienced a surge of deposits during the earlier phases of the global coronavirus pandemic, aims to provide its services to a wider range of clientele and make lasting impacts that extend well beyond the Texas border...

With TxBD in operation, a push is building in Texas for commodities trading options outside of New York. According to State Rep. Giovanni Capriglione, the author of the bill that created TxBDExternal Link, Texas is ideally positioned both geographically and economically to become an epicenter for commodities trading...

ll U.S. citizens and residents, including businesses, trusts and estates, are eligible to apply for a TxBD accountExternal Link to deposit bullion for safekeeping. (TxBD does not require applicants to reside in Texas to qualify for an account.) As of June 2021, nearly 1,000 account holders had deposits at TxBD, with the average account valued at approximately $140,000, Douglas says. And in 2019, the Texas Legislature passed and Texas voters approved a constitutional amendmentExternal Link allowing the state to exempt all precious metals stored at TxBD from property taxation...

In the long term, TxBD seeks to expand its customer base and partner with banking institutions to provide COMEX-level liquidity needed to serve larger investors.''

 

[JLW]

The Texas law was passed during the Trump administration. As I read the law, the Texas Bullion Depository is nothing more than a holding facility with certain tax exemptions for those that deposit their precious metals there. So? If Texas wants to compete with New York in commodities trading , go for it.

 

[KissMy]

I won't be putting my gold in a government run depository with the deficits they are running up. Trump printed 4 times more money as all presidents in history COMBINED! He stole all the wealth from my savings!!!

 

[Natural Citizen]

The Texas law was passed during the Trump administration. As I read the law, the Texas Bullion Depository is nothing more than a holding facility with certain tax exemptions for those that deposition their “bullion.”. So?

Yeah. That's actually the most important aspect.

So that's why I bolded the relevant text from the report that I did.

 

[Natural Citizen]

What Texas is doing here for ordinary shmucks is precisey what the BIS did for the central bankers. They're kind of creating a sovereign jusrisdiction for anyone.

There's more to keep an eye open for. But that's better left unmentioned at the moment.

 

[Mikeoxenormous]

Of note, from the report...

''In summer 2018, Texas began operating the nation’s only state-run bullion depository, a highly secure, government-backed storage facility comparable to the U.S. Bullion Depository in Fort Knox, Kentucky, which holds federal gold reserves. Now the Texas Bullion Depository (TxBD), which experienced a surge of deposits during the earlier phases of the global coronavirus pandemic, aims to provide its services to a wider range of clientele and make lasting impacts that extend well beyond the Texas border...

With TxBD in operation, a push is building in Texas for commodities trading options outside of New York. According to State Rep. Giovanni Capriglione, the author of the bill that created TxBDExternal Link, Texas is ideally positioned both geographically and economically to become an epicenter for commodities trading...

ll U.S. citizens and residents, including businesses, trusts and estates, are eligible to apply for a TxBD accountExternal Link to deposit bullion for safekeeping. (TxBD does not require applicants to reside in Texas to qualify for an account.) As of June 2021, nearly 1,000 account holders had deposits at TxBD, with the average account valued at approximately $140,000, Douglas says. And in 2019, the Texas Legislature passed and Texas voters approved a constitutional amendmentExternal Link allowing the state to exempt all precious metals stored at TxBD from property taxation...

In the long term, TxBD seeks to expand its customer base and partner with banking institutions to provide COMEX-level liquidity needed to serve larger investors.''

The only problem with depositing money into an account that others hold, is if the world goes to shit, he who owns the depository, owns whatever is in it. The only real safe way to protect your assets, is to keep your own in your house.....

 

[Toddsterpatriot]

This is big deal.

Prepare for the crack-up.

Texas is.

It's particularly interesting given that Texas has also been openly defying Biden's policies.

This is very likely the most important topic on the board. I had a thread some place else around here a couple of years ago when the state first opened the country's only state run bullion depository. I'd append this to that thread, because it's directly germane to why I'd mentioned it in the first place, but can't seem to find it.

Anyway...

The Texas Bullion Depository: The Only State-Run Depository Prepares to Go Global

Why is anyone supposed to care about a place that holds less than 4000 pounds of gold?

 

[Oddball]

I won't be putting my gold in a government run depository with the deficits they are running up. Trump printed 4 times more money as all presidents in history COMBINED! He stole all the wealth from my savings!!!

It's a STATE depository, nitwit....Texas can't print currency.

 

[Toddsterpatriot]

It's a STATE depository, nitwit....Texas can't print currency.

He's not very bright.

 

[Oddball]

He's not very bright.

Someone on this forum opened up a 55-gallon drum of stupid today....It's everywhere!

 

[Natural Citizen]

It's a STATE depository, nitwit....Texas can't print currency.

Will have to keep an eye out for any hint of the depository creating it's own unit of account, based on deposits.

Really wish I could find that old thread. I may have talked about that on another forum. Not sure. But a few other states are seemingly following suit. They're just not leading the charge, per se. Sems like they're just waiting for the big moves to be made. Which this is. It's huge.

 

[Oddball]

Will have to keep an eye out for any hint of the depository creating it's own unit of account, based on deposits.

No prohibition on creating notes redeemable for specie.

But then there's Bernie von NotHaus.

 

[Natural Citizen]

Why is anyone supposed to care about a place that holds less than 4000 pounds of gold?

This is probably way over your head, Toddster.

In fact, I'm kind of chuckling here, thinking about how many times in the past that I've asked you to tell us the unit of acccount for 1 Federal Reserve Note.

You never have said. Heh heh.

 

[Oddball]

This is probably way over your head, Toddster.

Chicagoans....Whatchagonnado?

 

[Toddsterpatriot]

This is probably way over your head, Toddster.

In fact, I'm kind of chuckling here, thinking about how many times in the past that I've asked you to tell us the unit of acccount for 1 Federal Reserve Note.

You never have said. Heh heh.

Yeah, nobody cares about a tiny gold depository in Texas going "global".

 

[Toddsterpatriot]

This is probably way over your head, Toddster.

In fact, I'm kind of chuckling here, thinking about how many times in the past that I've asked you to tell us the unit of acccount for 1 Federal Reserve Note.

You never have said. Heh heh.

tell us the unit of acccount for 1 Federal Reserve Note.

Looks like a dollar.

Are you using silver or gold coins at the gas station?

How much does a silver dime buy lately?

 

[Natural Citizen]

Looks like a dollar.

Yeah, but what's the unit of account for your dollar?

You never tell us, Toddster.

Is it a secret? lol.

 

[Toddsterpatriot]

Yeah, but what's the unit of account for your dollar?

You never tell us, Toddster.

Is it a secret? lol.

The unit of account is DOLLAR. Too complex for you?

So, how many gallons of gas do you get for your silver dime?

Which stations accept your silver? Any one in particular? All of them? Spill your secret, man.

 

[Natural Citizen]

The unit of account is DOLLAR. Too complex for you?

Yes, it's way, way over my head, so I'm asking you to explain the measurement of value for your dollar, Toddster. The standard of its value.

Please explain. We like to learn.

Thanks in advance.