from The Wealth Watchman:
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!
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.
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