Texas To Remove One Billion In Gold From NY Fed’s Vault

a reply to: Answer

I doubt there is any gold to be moved...thanks to the petro dollar of 1974 and that pesky Federal Reserve note giving $250 billion of gold to parties known.

originally posted by: seentoomuch
a reply to: MrSpad

Show me the source for the graduation rankings you're quoting.

My Source Disagrees: www.washingtonpost.com...

And also, Texas owns the state universities. Also, Texas is known for moving in a forward direction so I believe if it has value to keep our gold here, we will. We'll expand it as needed which judging from current events we'll probably expand it on the drafting table and it will be built larger from the get go. The bill just opened the door.

STM

The source is from Wiki. In recent years Texas reported rate has skyrocketed. The main reason is they are cheating the system. Texas Grad rate mystery

What has happened in the Dallas district could provide one answer for the increase in graduation rates. A preliminary internal audit from the school district, obtained by The Dallas Morning News, showed that as many as “a quarter of the class of 2013” should not have earned diplomas, because of lacking documentation under so-called principal plans.

These numbers are confirmed by Texas own university's who report

Over the last decade, more students earning high school diplomas are moving on to higher education, but the rate of students leaving college without degrees has either flatlined or increased since 2009. At two-year institutions, one of every three students fails to return for a second year.

So the only valid numbers one can use are those before they began cooking the books. Either way the gold is intended for higher education where Texas has a problem getting those so called high school graduates up to speed so they can stay in college.

originally posted by: FinalCountdown
a reply to: knightlight
The gold has been handed over to the ETs. Soon all of the rest will be confiscated and handed over.
Once all of the gold that could be mined and collected has been, Project Humans will be complete.

At that point we will no longer have the protection that we've enjoyed for the past 200,000 years or so.

Game over.

So we've got long enough to build a space defense force then.....

originally posted by: xuenchen

originally posted by: Blackmarketeer
I was going to post this early on in this thread but then lost interest... mainly because the thread title contains a pretty large error - the gold is not being stored in a fed vault, it is being stored for Texas in a private vault at HSBC bank. The gold in question belongs to the Texas public employee fund for their university system. Honestly the only loser in this would be HSBC, but then Texas has to take on the liability for storing that much gold in a secure facility.

But the official Texas Governor's website says Federal Reserve.

Then how embarrassing for the official Texas Governor's website.

originally posted by: Answer

originally posted by: buster2010

originally posted by: Answer
Can you blame the state of Texas?

Would YOU trust the federal government with your possessions?

This is the Federal Reserve not the Federal government. The Reserve is privately owned.

Uh huh...

6 of one, half dozen of the other. If you honestly think the Federal Reserve doesn't answer to the Federal govn't and vice versa, I have a bridge and some water-front property to sell you.

If you have ever had the opportunity to view the exchanges between the Banking Committee and the two prior Chairman of the FRB,
one becomes acutely aware of who is running the show. It is not the Government ! I honestly don't understand how you have come to the conclusion that the Gov holds any sway over the FRB. They have NONE WHAT-SO-EVER. As an aside, I don't think, I know. Thanks : )

a reply to: MrSpad

Okay, I've read the article and I don't agree with it as it is just guesswork, a theory. Well here's my theory why they only attend college one year. In high school here in Texas you can attend concurrent college courses for free with full college credit. By the end of high school you could have a years credit.

Now the problem seems to be getting the students to follow through for the second year on their own, living on their own in many cases. They would have to go forward with arranging grants or student loans, most prefer to just move into the job market being able to tick the box that says "some college". That doesn't make them the lowest ranking high school graduates in the country.

And as for the gold, tomorrow when I speak with the Gov's office I'm going to ask about future gold plans for the State of Texas. I'll report back to y'all.

STM

a reply to: jimmyx

Really? Just because we happen like power plants in our great state? Wouldn't it all boil down to supply and demand? If the left coast wasn't so eager to have strangling regulations, unreal taxation etc, then could also have more power plants built, yes? No Texas politics banning power plants to the degree there and we had more than enough electrical generation for Texas and the extra California needed. So who has the STUPID voters?
Back on topic, I think any state wishing to lay claim to what is their own and have it physically in that state is well within their rights and intelligent to do so.

EDIT to add: for all you left coasters out there who don't wish to throw comments like jimmyx along the lines of "screw Texas", that have nothing to do with the OP subject matter, I apologize in advance for the wording in above post. I do stand behind the principal

originally posted by: jhn7537
a reply to: xuenchen

I'm sure they can request it, but it doesn't mean they will necessarily get it, right? Didn't Germany try to get some of their gold back recently too? By recent, I mean last couple years..

I'll just say, "Don't mess with Texas."
Or expect trouble if you do.

Below is a quote from the Gov. Evidently the use of the facility will not be exclusive to The State of Texas. Texas citizens can store their gold bullion and other precious metals there too. I predict huge gold withdrawals from NYC as soon as it is built.

STM

“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state."

Source: gov.texas.gov...

a reply to: seentoomuch

Yes! YES! Bring us your gold! BRING IT, I SAID!

And now we will remove physical money.

Then, we will take your land.

Finally, you have nothing left. Then, we will make you a slave like never seen before!

a reply to: xuenchen

On Jade Helm map

Texas is circled with a large circle and coloured red. What does that tell you.

Govy doesn't like Texas

originally posted by: VictorVonDoom
Time for a regime change! We need to liberate those unfortunate, oppressed Texans from their tyrannical government. I heard a nurse say that the Texas National Guard was going around to hospitals and killing babies. We have evidence that the governor of Texas has been stockpiling chemical weapons. Signs of mass graves have been spotted near the Rio Grande.

We need to do something! We should start with a no-fly zone over Texas.

LOOL

you ought to be on television

a reply to: PredatorCrackling

but didn't the fed already pull the no fly zone on texas, and it worked? Texas backed down.

I wish texas the best of luck in getting their gold. Or, even a portion of it.

Heck you'll probably get it faster if you send your citizens out panning for it!

a reply to: MrSpad

I personnaly think we push collage way to much. I have a BS and two years of higher which I don't use at all in my job.

Yeh It has help me get my foot in the door a couple times, but in reality it was not worth the time and money I put in.

I enjoyed learning and will keep doing so, but like 80%+ of the people my degree has nothing to do with my job.

We would be far better off doing trade school type training and apprenticeships then making every one get a BS/BA before they "start" work. Some jobs DO require the training, but even then a lot of it could be done though OJT type training.

Any more the BS/BA degree is just what a high school diploma was 40 years ago. It means you trainable, but still can not do the job I hired you for until I train you again.

When I read this, I went and looked at it. It is awaiting for the Gov approval, yet he has not signed it yet. It is still hanging in Bill limbo

originally posted by: sdcigarpig

When I read this, I went and looked at it. It is awaiting for the Gov approval, yet he has not signed it yet. It is still hanging in Bill limbo

Friday, June 12, 2015 • Austin, Texas • Signature Statement

Governor Greg Abbott today signed House Bill 483 (Capriglione, R-Southlake; Kolkhorst, R-Brenham) to establish a state gold bullion depository administered by the Office of the Comptroller. The law will repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas. The bullion depository will serve as the custodian, guardian and administrator of bullion that may be transferred to or otherwise acquired by the State of Texas. Governor Abbott issued the following statement:

Governor's website confirmation

Does gold produce interest on itself? who pays it?
I thought that gold just 'backed' paper money, the use of paper money created 'interest', am I missing something?

originally posted by: pikestaff
Does gold produce interest on itself? who pays it?
I thought that gold just 'backed' paper money, the use of paper money created 'interest', am I missing something?

And gold is a traded market-price commodity.

And it has many industrial uses.

Okay, just got off the phone with the Gov's office. They're working on Tropical Storm Bill and possible flooding at the moment. I'll write up my questions and send them in, may be a day or two before I get a response due to the storm over Texas. In the meantime, I'll look up the exact wording of the bill to see if I can glean a bit of clarification in regards to who will be able to utilize the facility and the conditions of usage.

Gov Abbott's main outline for his term is to make Texas as self sufficient as possible, just in case, so I believe that this bill is just opening the door to move in that direction financially. The verbiage about the fees outside the state imo were just cover justification for this bill.

STM

Satire? Nope, just more Yankee lies, just like come out of DC!