Ron Paul Backed Gold-Standard May Become Texas Law Under Rick Perry

[sailingaway]

Somebody needs to go check the water down in Texas: Governor Rick Perry (R) wants to begin hoarding gold. Perry has teamed up with state Rep. Giovanni Capriglione (R) to create a sort of "Fort Knox" of sorts in the Lonestar State. The move has many speculating if the state is seriously considering secession.

The legislation being put forth by Capriglione would create the Texas Bullion Depository. Capriglione told the Texas Star-Telegram, "We don’t want just the certificates. We want our gold. And if you’re the state of Texas, you should be able to get your gold." The lawmaker believes that creating their own depository will make the state a more attractive and safer place for potential business owners and investors.

The depository would be a secure state-based bank that would hold the gold bars owned by the University of Texas Investment Management Co. Currently, the $1 billion dollars in gold bars are held by the Federal Reserve of New York. Capriglione said that the state could save money on protecting the gold by farming out administrative and security duties to private firms. Yes, that’s a genius idea and doesn’t sound at all like an Oceans 14 movie plot.

The bill may actually have some legitimate legislative support in and out of State Congress. Former Rep. Ron Paul has long backed a gold standard: "If you think gold is a hedge, or a protection, you always want it as close to the individual and the entity as possible."

more: http://www.policymic.com/articles/30814/ron-paul-backed-gold-standard-may-become-texas-law-under-rick-perry

[kathy88]

Freaking awesome.

[FSP-Rebel]

:eek:

[Constitutional Paulicy]

Talk is cheap. "Show me the money" I mean gold!!!

[Austrian Econ Disciple]

Sounds terrible. I don't want the State involved at all in monetary affairs, and I doubt Ron would support a State-bank like this - he wants to get rid of Government powers in monetary affairs, not merely replace one set of currency transactions under their power with another. Yes, gold is better because it can't be inflated willy-nilly, but that's an inherent property divergent from what it means for the State to control it. Anyone else find it a bit upsetting that the State should be buying gold in the first place? Instead of taxing us to buy the gold, how about let us keep our own money. Sounds good to me. This seems like a horizontal move more than anything.

[TheTexan]

Sounds terrible. I don't want the State involved at all in monetary affairs, and I doubt Ron would support a State-bank like this - he wants to get rid of Government powers in monetary affairs, not merely replace one set of currency transactions under their power with another. Yes, gold is better because it can't be inflated willy-nilly, but that's an inherent property divergent from what it means for the State to control it. Anyone else find it a bit upsetting that the State should be buying gold in the first place? Instead of taxing us to buy the gold, how about let us keep our own money. Sounds good to me. This seems like a horizontal move more than anything.

It's not horizontal. Definitely vertical. This moves both the ownership of the assets, and the sovereignty, closer to the individual.

This is a very good step in the right direction. And not just because of the gold, but because of the statement that such a move implies.

[thoughtomator]

Sounds terrible. I don't want the State involved at all in monetary affairs, and I doubt Ron would support a State-bank like this - he wants to get rid of Government powers in monetary affairs, not merely replace one set of currency transactions under their power with another. Yes, gold is better because it can't be inflated willy-nilly, but that's an inherent property divergent from what it means for the State to control it. Anyone else find it a bit upsetting that the State should be buying gold in the first place? Instead of taxing us to buy the gold, how about let us keep our own money. Sounds good to me. This seems like a horizontal move more than anything.

The state already owns that gold, at least on paper. The net effect here is to move physical control of the asset away from the grossly irresponsible Federal Reserve (which probably doesn't actually have it, which is the real issue underlying these demands).

[satchelmcqueen]

perry did commend ron during the debates for having opened his eyes to the way the FED works.

http://www.youtube.com/watch?v=Pu9cqbX8LtY

[ClydeCoulter]

perry did commend ron during the debates for having opened his eyes to the way the FED works.


I remember that video, it gave me hope that perhaps Ron was opening the eyes of willing candidates, even if only a little.

[Nic]

It's not the end-all solution, but I definitely think it's a step in the right direction. I'd love to see other states start to follow suite.

[roho76]

I remember that video, it gave me hope that perhaps Ron was opening the eyes of willing candidates, even if only a little.

Oh boy, did he ever. I find it wholly satisfying that his issues are at the fore front of discussion today. People are starting to look at the Repulcan warhawks in a negative light, talk of ending the war on drugs from prominent members of congress, federal reserve policies being questioned openly. A lot of Rons talking points are mainstream subject matter even though he doesnt get the credit hes do. Ask me if I thought this type of dialog was possible five years ago and I'd tell you to try some meds.

Ron Paul won but his prize was bigger then the Presidency, his actions have changed hearts and minds across the world. The only other person in recent times to do that was Obama but people's love affair with him is wearing thin and I'm sure at a breaking point.

[Constitutional Paulicy]

Several states some 14 or so have introduced bills to have their own state currency. Virginia comes to mind as one that is advancing on this front. I also remember reading that North Dakota is the only state with it's own state run bank which is outside the centralized banking system. Apparently they have had tremendous success with the Bank of North Dakota and many states are lining up to do the same.

I propose that Texas take this seriously. In addition to their own depository they could create their own state bank as did North Dakota and introduce a state currency backed by the gold they wish to transfer.

[sailingaway]

Oh boy, did he ever. I find it wholly satisfying that his issues are at the fore front of discussion today. People are starting to look at the Repulcan warhawks in a negative light, talk of ending the war on drugs from prominent members of congress, federal reserve policies being questioned openly. A lot of Rons talking points are mainstream subject matter even though he doesnt get the credit hes do. Ask me if I thought this type of dialog was possible five years ago and I'd tell you to try some meds.

Ron Paul won but his prize was bigger then the Presidency, his actions have changed hearts and minds across the world. The only other person in recent times to do that was Obama but people's love affair with him is wearing thin and I'm sure at a breaking point.


http://www.youtube.com/watch?v=Xtl2ZuJpG9M

[sailingaway]

Several states some 14 or so have introduced bills to have their own state currency. Virginia comes to mind as one that is advancing on this front. I also remember reading that North Dakota is the only state with it's own state run bank which is outside the centralized banking system. Apparently they have had tremendous success with the Bank of North Dakota and many states are lining up to do the same.

I propose that Texas take this seriously. In addition to their own depository they could create their own state bank as did North Dakota and introduce a state currency backed by the gold they wish to transfer.

Great idea.

I've seen your signature slightly differently, with barter for peasants and debt for slaves ... or is your point that paper money IS debt?

[Constitutional Paulicy]

Great idea.

I've seen your signature slightly differently, with barter for peasants and debt for slaves ... or is your point that paper money IS debt?

Thanks

Ya your right, the idea is that paper money is debt.