With the signing of a new law, Texas Governor Greg Abbott has charted the way for Texas to be the first state in the United States to house its own gold bullion depository.

To fund the depository, Texas will repatriate $1 billion in gold from the New York Federal Reserve, a move that some believe may be tied to the first steps in secession.

The bill that made this repatriation and gold depository possible is Texas House Bill 483 and the bill includes language which hints at reasons why Texas might be so keen on taking its gold out of the Federal government's hands and storing it closer to home.

One clause in particular is drawing the attention of media outlets across the country.

In section 2116.023 B, the bill acknowledges that "In the case of receiving notice of a purported confiscation, requisition, seizure, or other attempt to control the ownership," of gold stored in the depository, Texas "May not recognize the governmental or quasi-governmental authority, financial institution, or other person" who is requesting the funds.

That's a lot of legalese for, "If the Fed says they own this gold, they had better think twice about it."

According to Giovanni Capriglione, the state representative who wrote the bill, he's been getting calls from people and businesses around the world who want to deposit gold and other precious metals in the Texas depository, evidence that creating the depository may be a wise move intended to bring business and investments to the state.

While it's laudable that Texas is asserting its state rights to repatriate its gold from the Fed and start its own gold reserves, there is a small part of me that wonders if this is simply the next step in America's further devolvement.

State rights are vital in this country, but so is unity. We can only hope that America can bond together again and maintain what little unity is left.

h/t: Truth in Media, RawStory


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