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Texas Takes First Steps in Demanding The Return of Their Gold - Nathan McDonald

Texas Takes First Steps in Demanding The Return of Their Gold - Nathan McDonald
By Nathan McDonald 4 years ago 1469 Views No comments

The FED holds a vast amount of gold. This gold comes from all over the world and is stored in a depository located in Lower Manhattan. They claim to have roughly 500,000 gold bars, totaling 7,000 tons.

Whether or not the FED truly holds 7,000 tons of gold or not is widely speculated and is debated regularly by many within the precious metals community and the financial world at large. Perhaps as some claim, the FED does have all its gold and the United States remains a gold powerhouse.

Perhaps those who claim the gold has been re-hypothecated into infinity in a desperate attempt to keep the price of gold lower are the ones who are correct. Conversely, perhaps the bars are there, but simply gold plated tungsten.

The conspiracies are endless, and until the FED either tells us the truth (I wouldn't hold your breath), or is forced to play their hand, then it is doubtful that we will truly learn the answer to our question.

This uncertainty, until recently was reserved for nut jobs and tin foil hat wearers... that is until countries all around the world began demanding their gold back from the US FED, most notably, Germany. Perhaps the "conspiracy" theorist are on to something.

This doubt has continued to spread and is even beginning to enter into the thoughts of individual states, a fact that no one would have assumed possible until recently.

Texas, known for its independent spirit and nature, is one such state that is deciding to take matters into their own hands and demand its gold back that is currently being held abroad.

Just last week, Governor Greg Abbot signed bill HB 483, a revolutionary law that will allow Texas to create the first ever state-level gold bullion and precious metals depository.

After signing in this bill, Abbot explained what he believes this bill is about:

"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."

The bill itself goes on to explain how this will protect Texan gold from any "governmental or quasi-governmental authority". In short, the officials of Texas don't trust the government with their gold and if the conspiracies are to be believed, they have good reason not to.

This has to strike fear into the hearts of the FED, as realistically it is very unlikely that all the gold they "claim" to have is legitimately there. In reality, the truth lies somewhere in between the extremes of those who claim all the gold is there and those who claim that none remains.

Regardless, this is a massive step in the right direction for Texas and its people. They are reconnecting themselves with honest money and taking the prudent steps that other States should be taking before another crisis of monumental proportions is upon us.

It will be interesting to see how the FED reacts to this news and what it will do when Texas truly demands its gold back. They know that this could have a rippling effect across other states, an aftershock that could be the beginning of the end for their true source of power, the fiat dollar.

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