A relatively under-reported announcement by the Texas State Legislature is catching fire this week as Texans and Americans everywhere are increasingly bothered by the Federal Government.
In an unprecedented move, the Texas Legislature announced that Texas’ size-able4, stockpile of gold (the nations-largest) would be moved from HSBC Bank in New York City to another location that is within the borders of Texas.
A growing number of conservatives are supporting the move, especially those who have begun to question the future of the United States economy, who have begun to doubt America’s post-2016 economic future. Many have laid blame for the US Economy’s struggles squarely at the feet of President Barack Obama and the leftist policies that he has instituted.
The bill passed easily through the state legislature, which has a strong conservative base (on most issues). After signing the bill announcing the move, Governor Greg Abbott tweeted, “California may be the golden state, but Texans deserve to keep their gold in-state!”
In a country with 18.2 Trillion dollars in debt, many readers might be asking themselves, how large is Texas’s stockpile and more so, why is this move significant?
WHY IT MATTERS: (H/T TheBlaze)
Edwin Truman, a senior fellow at the Washington-based Peterson Institute for International Economics and an expert on gold and monetary policy said,
“Just moving it [the gold] would be pretty expensive and unless Texas is anticipating withdrawing from the Union, which I suspect some people want, I don’t see what advantage it is.”
A significant problem for Texas is that it doesn’t currently have a bullion depository like the federal government’s depository at Fort Knox, Ky. So, a big part of the moving expense will be to build a repository.
Authors SIDE NOTE on Fort Knox: Having visited Fort Knox, I was relatively unimpressed by the security measures. Without going into too many details, it certainly left me wondering if America still had any gold to protect.
What is your take on Texas’ move to centralize its economic future? Has the over-reaching federal government pushed Texas too far? Is Texas formulating a plan to put an end to its involvement in the “Socialist States Of America”?