TODAY-5/22/15--Texas HB 483--TEXAS BULLION DEPOSITORY...in the face of a national financial or currency crisis.”

HB 483 would establish a TEXAS BULLION DEPOSITORY. This piece of legislation, in short, would create a mechanism for Texas and Texans to bring their gold and silver home to Texas and store them in a Texas-based system as opposed to a Federal Reserve created system.

“This proposal consists of two parts – the “depository” part and the “system” part. The “depository” part … provides simply for hedging the state’s investment risk by allocating a recommended portion of state and local investment assets to physical gold and other precious metals, and housing those metals in a state-operated facility….

“But the truly game-changing aspect of this proposal … lies in the “system” part. This would be an advanced, state-owned and operated system of electronic payments and settlements, denominated in ounces of precious metals, barred from engaging in lending, leasing, speculative or derivative transactions, and always maintaining a 100% ratio of bullion reserves to account balances. At full scale, not only could it sustain state and local government operations, it could potentially sustain large swaths of the Texas economy, even in the face of a national financial or currency crisis.”

Go to this link and find your Senator: "I live in your district and I want you to vote 'YES' on HB 1150 and HB 483. Thank you."

[link to www.senate.state.tx.us]



[link to www.thetnm.org]

Last Edited by Hard Eight on 05/22/2015 08:51 AM