Lately, I’ve been thinking about writing a post focused on the Federal Reserve and central banking, but another story has just come up recently that’s less gloomy and more optimistic. Texas Governor Greg Abbott recently signed into law House Bill 483. According to the official statement from the Governor’s office, this law will “establish a state gold bullion depository” and “repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas.” For those of us who’ve been speaking out against the Fed, this bill should serve as the foundation and framework for other states to follow. Although this law doesn’t abolish the corrupt system, it does provide an alternative.
As it’s reported by The Epoch Times, the two main reasons for this bill include the “distrust in the current storage system” and “the paper money system as a whole.” Starting with the first claim, it’s true that there is major distrust in the storage of gold around the world. In 2011, the Wall Street Journal reported that “Venezuela Plans to Move Reserve Funds.” If you read into that article, it talks about how they wanted to move gold bullion from European banks to their own central bank vaults. In 2012, the German publication Spiegal wrote an article titled, “Precious Metal Abroad: Why Germany Wants to See it’s US Gold” referring to a law passed by their government to inspect gold they have stored around the world, half of which is held at vaults underneath the Federal Reserve in New York. To my knowledge, no-one from the German government has been able to verify the existence of said gold and there has never been any audit of any Federal Reserve Bank.
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered. I believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson
That’s probably my favorite quote concerning the Federal Reserve and “the paper money system as a whole.” It’s amazing that we would adopt a system explicitly described by one of our Founding Fathers as “more dangerous to our liberties than standing armies.” Make no mistake about it, the Federal Reserve is no more “federal” than Federal Express. This is a private bank, a central bank, over which American’s and Congress have no authority. Don’t believe it? Alan Greenspan admitted to everything on national television!
“The Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don’t, frankly, matter” – Alan Greenspan
It’s amazing to see how blatantly obvious it is that Jefferson’s worst nightmare, the Federal Reserve, has come true. And even thought it’s blasphemous existence is verified by statements made by the Fed’s former chairman Alan Greenspan, there are still people, like this New York Lawyer, who are freaking out about this bold move by Texas. What’s wrong with a State choosing to hold it’s own gold? If they want it back in their possession, they should have the right to demand it back. Texas even went a step further and put protections in place to say that no government agency, other than an official from Texas, could move that gold out of the State. It will be interesting to see how this plays out considering what’s happened with Germany. People like myself who’ve been saying, “Audit the Fed” and “End the Fed” all these years will be watching this very closely. I only hope that others also pay attention and hopefully we can expand this law on a more local level, nationwide.