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This US State is on the Verge of a Silver & Gold Revolution!

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!

Texas 3

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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17 comments to This US State is on the Verge of a Silver & Gold Revolution!

  • Tee

    I am sorry but I do not and would not trust a depository or any vault holding someone else’s precious metals because it can or may come up missing in action. If it is not in your possession, you don’t own it! You may be told one day there is a glitch in the system and your metals cannot be found but we will compensate you in dollars. Let’s not forget MF Global!

    • Jerry

      Not having something in your possession does not mean that you do not own it. You just do not have control of it.

      • Tee

        Jerry, I have to disagree because it is just like having a bank account whatever amount of money you put into the bank becomes the capital of the bank and you waive your rights of ownership, this is one of the hidden secrets of banking you are not told when you open a account. There are laws in place NOW that says if you take remove a certain amount of money out of your account it is considered suspicious and it can be confiscated.

        • Jerry

          Tee,

          I agree with you when it comes to having your money deposited in the bank. That is something I recently learned about last year. I was referring more to physical items such as precious metals. For example, if I loan my neighbor my car, it still belongs to me (assuming there is no outstanding loan). If I have some gold in my bank safe deposit box or in my father’s safe at his house, that gold belongs to me. I am the rightful owner. However since I do not have direct access or complete control of it means that it could more easily be stolen by the bank or by the government or by my father. Hence I do not like the saying “if you do not hold it, you do not own it” because too often it is really not true. I would rather say “if you do not hold it, you do not control it”.

          I also agree with what you said about not trusting places like bullion storage facilities like the ones that are advertised on gold web sites. If things get real bad then they may not be any safer than in a bank safe deposit box.

          So I think we probably are in agreement.

  • Tee

    This could be a plot to get the metals out of a person’s hand into a facility where the state can confiscate your possessions. Thank you and your staff Sgt for posting this article.

  • John

    Tee, you bring up a good point – TRUST. But the idea of holding one’s precious metals at a depository is on the very cutting edge of using technology to conveniently and safely transact in society. It is this backing of a monetary/transacting system using a physical depository which will actually give huge rise to the purchasing power of precious metals. It should be what all stackers want, and not be afraid of. I suppose a good way to accept this idea of vaulting one’s metals would be to tiptoe into this new idea, commiting just a very small fraction of one’s ounces, and thereby treading carefully but letting the system prove itself over time. And who says one must commit all their precious inventory to this new idea. Just like holding cash in our antiquated fake fiat sytem we have today, one can hold some of their own (cash) metals in another place or safe at home.

    WealthWatchman, thanks for shedding the light on this development and happy SGT gives light to your articles as some of us have no idea of what is developing on the fringes and only learn of them here. Keep up the good fight, brother!

    • You have got to be kidding me. It’s electronically controlled. Trust is gone as far as I am concerned. I have learned of a level of deception that I never would have believed possible and a sickness for power that has totally rocked me to my core. There is no way I will ever go back to being that naive again to trust ANY system, no matter how good it sounds or appears to be on the surface.

  • Could be the U.S. government and ” Special Forces ” are targeting Texas and Utah this year under Operation Jade Helm !

    http://www.infowars.com/feds-preparing-to-invade-texas/

  • Hey guys, and thanks! Just to be clear about one thing: I’m not advocating that anyone actually do “X” with their gold or silver, other than buy it! Nor am I for any solution or bill which would coerce anyone to send their PM’s into state custody. Nor am I saying that any particular currency should be mandatory.

    I’m simply saying…..that we’ve lived for so damn long in a world where the state is the ULTIMATE facilitator of the banksters, and squelcher of all things PM’s, that it is a breath of totally fresh air to even see this being considered! It should be encouraged, as the ladies who sponsored the bills.

    Remember, as I stated on Friday….no such bill could save the system, nor should it! The system deserves to crash and desperately needs to crash before we can be on firm footing again. Such a system though, would be an excellent direction to segway into as we dive into this crash headfirst.

    Thanks for the feedback everyone!
    -WW

  • jskauai

    Until all taxes federal and state are removed from gold and silver coins all we have is “numismatic souvenirs”. Our America eagle program should be amended to;
    1. Remove any dollar amount stamped onto the coin only showing its metal weight and fineness.
    2. The mint/treasury provides a bid/ask quote based on market conditions payable in paper dollars.
    3. we the people will then have the option to save or spend our eagles

    • Good thoughts, JSK, actually one of the provisions of the bill establishes a constant “market exchange rate” to be determined by the State Comptroller’s office. So, it seems that they’re not intent on valuing silver eagles @ $1, and gold eagles @ $50. I meant to originally put this into the article, but didn’t have time.

      I completely agree about the rest of your suggestions. The dollar stamped amount though, is pretty arbitrary, and governments can get around it, by simply determining the market exchange rate on their own.
      -WW

    • Rusticus

      The Free Silver movement of the late-1800s accomplished just that, for a time. The remnants of the Bland-Allison Act lasted, as we know, until 1964, but the near de-facto gold standard that was enacted in 1900 spelled the end for Sound Money.

      The Panic of 1907, engineered by the issuance of too many gold certificates by private banks, was the justification for the “reform” that took place six years later with the creation of the Fed. This is, of course, a vast oversimplification of a much more nuanced story: https://archive.org/details/TheSecretsOfTheFederalReserve

      …but its moral remains the same: You cannot trust third-party institutions. Period. Not for price discovery, not for note issuance, and sadly, today, not even storage in most cases. You’re dealing with masters of monetary leverage, and if you give them any room for a fulcrum, no matter how small, you’ll soon find yourself tumbling off a cliff. If we repeat the original mistakes of the Free Silver movement, which comprised a literate group of populists far more intelligent than “the masses” of today, we will inevitably suffer the same fate.

      Decentralize everything, it’s our only hope.

  • petedivine

    When the world abandons the Dollar we will need another way to settle international trade. For Precious metals to become widely adopted we require an electronic settlement system tied to real assets. Otherwise, PMs won’t be adopted and will be replaced with an alternative system. It appears Texas is laying the ground work for global trade and settlement. Someone in Texas believes the next monetary system will be based on Gold and Silver. I’m all for it. Should I fear fraudulent governments? Absolutely, but we risk isolationism since no one will want to transact in a hyperinflated currency. We either get a new mechanism or start saving in Yuan or the next reserve currency. That’s what people in 3rd world nations do.

  • Rusticus

    Wonder if Kyle Bass had anything to do with this… wasn’t he the fiduciary of that Texas A&M gold originally?

  • Ryan

    The Wealth Watchman doesn’t know the difference between the University of Texas and Texas A&M.

  • David

    University of Texas,not A&M,to be polite.

  • anon

    “As we recently observed, the ‘brilliant’ elites in DC are currently in full retreat across a broad spectrum of international issues.”

    LMAO!

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