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Newmont Mining Corporation Message Board

  • real_hodad real_hodad Mar 21, 2013 8:12 PM Flag

    BIGGER TROUBLE...

    this has all the beagle hens clucking....like jhlcem off his meds. if the marks get wise, their might be nothing to confiscate but those iras stuffed with stinky tech and banks stocks and bloated bonds.
    ----------------------------------------------------------------------------------------

    A lawmaker has proposed a bill to create a Texas Bullion Depository, which would allow the state and its citizens to store gold bullion in its own facility in Texas, with the protection of the state.

    If passed, the Texas bill would tell Washington to “shove off” under the 10th amendment power given the states, if we ever saw the kind of currency craziness we saw during the Great Depression when President Franklin D. Roosevelt mandated citizens hand over most of their gold.

    Texas isn't the first state to think about hedging its monetary destiny with precious metals.

    Citing concerns over the value of the U.S. dollar, Arizona lawmakers are the latest to pursue legislation that would declare privately minted gold and silver coins legal tender. In 2011, Utah became the first state in the country to legalize these precious metal coins as currency. Lawmakers in states including Minnesota, North Carolina, Idaho, South Carolina, and Colorado have debated similar laws.

    As for the Texas proposal, Jim Rickards, senior managing director of Tangent Capital Partners and author of Currency Wars, tells The Daily Ticker you can think of it like the “Fort Knox of Texas.”

    And on the legal side Rickards says, “you’ve got the state of Texas standing up for you if the federal government tries to do what they tried to do in 1933, which is take the people’s gold." Rickards is also a lawyer and has read the legislation.

 
NEM
18.57+0.53(+2.94%)Dec 24 2:48 PMEST

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