by Joseph P. Farrell, Giza Death Star:
That blog, you’ll observe, referenced another blog about the efforts of Texas Governor Abbot trying to woo the NASDAQ data center away from the New York City-Newark environs to Texas (that blog is linked in the above article).
For those who have been following my blogs over the years about these stories and the stories about Texas’ state bullion depository (and those of other states), I’ve made it clear that I regard these efforts as indications of the states’ own “deep states” taking measure of the stability of the federal government, and building out a financial infrastructure that will permit them to function economically and commercially in the eventuality of a federal collapse. This would perforce include equities markets, and of course, eventually, will have to include commodities markets. Another aspect of my thinking as I’ve watching this story unfold is that a Texas-based exchange system would be physically closer to Latin America, and thus perfectly placed to counter-act Chinese penetration into the region. Secretary of State Rubio’s recent trips to Latin America are, in this estimation, just the beginning of financial and economic efforts in the region. To make all of this work, one should expect to see commodities markets being opened away from the current centers (Chicago) and for the Texas Stock exchange to take its operations national.
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It should come as no surprise that this is precisely what is now being done, according to the following article spotted and shared by M.D., with our thanks:
Texas Stock Exchange files to operate nationally, eyes trading in early 2026
There are two things to note in this article that are the centerpiece for todays high octane speculation, the first is this:
In conjunction with the filing, the exchange said it has received $161 million in capital from over four dozen investors. Their ranks include corporate giants such as BlackRock (BLK.N), opens new tab, Citadel Securities, Charles Schwab (SCHW.N), opens new tab and as well as major U.S. market makers and trading firms such as Jump Trading.
In other words, the Texas Stock Exchange has major corporate backing to the tune of Blackrock and Charles Schwab, and this caliber of corporate backing bodes well for its success in obtaining the ability to operate nationally, it also bodes well for its future in doing so. This is not, in other words, merely a fly-by-night will-o-the-wisp idea. This brings us to the second factor, revealed at the very end of the article:
Texas Governor Greg Abbott said in September the new exchange would expand the state’s financial might and cement its economic power on the global stage. A number of high-profile firms, including Elon Musk’s Tesla (TSLA.O), opens new tab, have shifted their headquarters to the state in recent years, citing a more welcoming business climate.
This is a very telling statement, for it is an indicator that even if this particular stock exchange should fail, sooner or later there will be another one in the state, and it will not. The state is determined “to expand the state’s financial might and cement its economic power on the global stage.” It’s power, not the American federal government’s power. This suggests what I’ve suspected about the sudden surge in recent years for state bullion depositories, bullion-back currency resolutions, and so forth, a surge that began, again, in Texas. All these efforts can be interpreted as measures designed to build-out redundancy in America’s financial infrastructure as a national security measure. But that same effort also gives the states creating it – notably, most of them being so-called “red” states – a measure of economic and financial leverage vis-a-vis the federal government that they did not have prior to the rise of these measures. And finally, of course, they are in the process of creating a financial system that, should the current governmental and financial structure fail – those structures we know all too well in Washington, New York City, and Chicago – there will be another system able to split off, and continue to function free of the sclerotic and corrupt oversight of the existing centers. The lessons of the last two times this happened, in other words, have been learned: financial infrastructure first, then secession, and not the other way around.
All of these speculations about the motivations and agendas for the creation of this new structure come with a strong caveat that I again repeat, because there is another way to view these developments than the above ways, namely, that this system is being built out not against the inevitability of the collapse of fedgov.inc, but rather, as a financial cage for when it does occur, and built by the same people that gave us the corruption of fedgov.inc. On this view, we’re watching the refinancing and restructuring, “the reset”, play out before our eyes. It is to be carefully noted that so many states are now pondering “bullion backed money” resolutions that the other thing is not being talked about in all the celebrations about the return to “sound money” is something that they are contemplating: their “bullion backed currencies” will be digital. And this, of course, is the trap, for without a physical instrument of exchange, and its convertibility into that bullion, and the ability to transact in specie or its physical representations, you are not dealing with a currency at all. You’re dealing with a digital coupon, in this case, a coupon from the state, the value of which can be electronically and immediately adjusted, depending on your behavior. And the same applies for the commodity and equity exchanges: if you cannot supply real physical certificates upon demand, and trade in them, all talk of “stakeholders” and “shareholders” and so on, is meaningless. Without the analogue basis and foundation, the digital building is nothing but a castle of air, ephemeral, and subject to dissipation in a moment’s breeze.
So far, no one seems to be raising these issues when they talk about these stories. I for one will feel a lot better about these developments when they do occur, for it’s only when these concerns become a part of the discussions about bullion backed money, stock exchanges, and so on, that I’ll start feeling a little better about them. For now, I watch the developments with a jaundiced and skeptical eye…
