Texas May Start Hoarding Gold…Secession Next?

[redrumloa]

Link

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.

 

[robert l. bentham]

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.

lol... wonder how long before the texas depository was as empty as fort knox save for a similar small pile of IOU's... texans can't even keep the border secure... ... and if they would like to secede, most of the rest of the country would let them.. the only reason any of them has any gold anyway is because the rest of america pays for it...

The citizens of Texas certainly pay into the federal government, but multiple studies have found that they get even more in return. Over a 25 year period, Texans have, on average,received more in federal money than they have paid into the system. In 2009, for example, the people of Texas paid $163 billion in federal taxes, and in return they received $224 billion from the federal government in the form block grants, Medicare and Medicaid aid, and retirement and disability assistance. In other words, the state of Texas made a $61 billion profit off the federal government in 2009. If they really did secede, the state of Texas would either have to stop giving their elderly citizens health care, or raise taxes to make up for the billions they would lose in federal citizens.

http://www.examiner.com/article/states-most-wanting-to-secede-also-receive-the-most-federal-money

don't touch our welfare you over reachin' big gubment types!! ... not as catchy as "remember the alamo!!"

 

[faethor]

@Robert,

States that get more $ from the Fed Gov than they put in are predominately Southern and Republican. The States that put more $ into the Fed Gov are predominately Blue. It's an interesting trend. For 'fun' we should follow the Tea Party demands for smaller Fed Gov and say cut all Fed $ from Mississppi as an experiment. If Mississippi does better than we have a clear direction forward, I say.

 

[cecilia]

according to my brother Austin has a great music scene - he's been there for an audio convention. And then there's those wonderful atheists who have that great show who live in Austin.

the rest of TX - assuming it's basically a bunch of rubes - can leave the country and I won't miss them.

all those red states are just dragging us down