By Stephen Flood -
The state of Texas has just passed legislation to build its own gold bullion depository, to repatriate $1 billion dollars worth of gold currently stored by the Federal Reserve in New York and to create a new gold electronic payments system to protect from “national financial or currency crisis”.
The move is being widely perceived as a vote of no confidence in the privately owned, bank owned central bank and the federal government.
Governor Abbott said that establishing this Depository means Texas will be, “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.” (see Governor Abbott Signs Legislation To Establish State Bullion Depository )
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Texas repatriating $1 billion worth of gold from the Federal Reserve- Plan to create gold based electronic payment system
