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 Replies: 11 / Views: 1,545 |
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Pillar of the Community
United States
2189 Posts |
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Bedrock of the Community
13014 Posts |
As far as the state holding your own gold for you, Texas is one of the few states I would actually trust for that. I cant say I'm surprised that theyre thinking of doing this, they are always just a few steps from succession anyway.
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Valued Member
United States
380 Posts |
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Pillar of the Community
United States
2543 Posts |
When I lived in Houston, I often wondered why Rick Perry wasn't doing anything about unemployment, too many low paying jobs, being filled by too many undocumented workers and substandardly educated High School " gadgiates ". Why no one was addressing crime or the yearly wildfire season brought on by the devestating drought. I guess they were all too busy figuring out how to hoard gold for the rich people.  |
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Valued Member
United States
292 Posts |
Texas looks more and more inviting by the minute.
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Bedrock of the Community
Australia
21786 Posts |
So if the Feds took your gold in 1933, but they won't now,
there could be a situation where the Texas Government could take your gold instead.
The State of California is broke. Why dont THEY set up a State Repository?
What fees would a State Treasury charge for providing 'security'?
The next step is that a treasury could issue paper securities against the stored gold, even though some of the gold isn't theirs.
That was one of the foundations behind the setting up of the Bank of England.
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Bedrock of the Community
13014 Posts |
No one would trust it if California set one up because they would confiscate it at some point. The reason why Texas could potentially do this is they are one of the few states where the fear of them taking it would be minimal at best. They just dont have legislatures that believe in that and are a very friendly state in terms of taxes. Likely if they were to take it it would be because they were breaking off from the US and that would be something they wouldnt do without the support of its residence anyway.
As far as fees I would guess itd be similar to what a bank would charge for a safe box or maybe even just do it like a bank and pay you interest for it.
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Valued Member
United States
335 Posts |
Ahem - "secession" - basebal21
(not to be a a grammar nazi)
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Bedrock of the Community
13014 Posts |
Yea probably should have edited it when I saw it.
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Pillar of the Community
United States
1200 Posts |
The extent of my ability and willingness to trust any state or federal government-operated precious metal repository is directly linked to the extent to which
American politicians are proven and known to be honest and trustworthy.
I see using any government PM repository as being as sensible as asking the most out-of-control drunk I know to hold a case of beer for a year for me.
When compared to using a government PM repository, bonehead schemes like burying PMs in the woods look great. At least you have a chance in the woods.
Edited by Fat Freddy
03/23/2013 3:02 pm
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Pillar of the Community
United States
2543 Posts |
Quote:
I see using any government PM repository as being as sensible as asking the most out-of-control drunk I know to hold a case of beer for a year for me. And that pretty much sums it up ................. |
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Valued Member
United States
380 Posts |
If the State of Texas holds gold as currency and issues paper certificates backed by that currency, I'm on board. I don't think the Fed will allow it without a big fight. That will shine a light on the lie that is our printed dollar. I would take a backed piece of paper any day over an unbacked inflating dollar with nothing behind it but Bernanke blowing hot air bluefaced to keep it filled with wind. That same out of control, no interest money printing that is propping up the stock markets right now.
Edited by Arcticsparky
03/23/2013 4:06 pm
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Replies: 11 / Views: 1,545 |
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Posted 03/22/2013 9:24 pm
