Perry, Some Lawmakers Want State's Gold Back in Texas

[sailingaway]

Call it the Rick Perry gold rush: The governor wants to bring the state’s gold reserves back from a New York vault to Texas.

And he may have legislative support to do it. Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Company, or UTIMCO, and currently stored by the Federal Reserve.

The idea isn’t entirely new. Some Republican members worked on a gold bill last session that was never filed. And gold-standard-backing Ron Paul, the former Texas congressman, has raised repeated concerns about the safety of states' gold supplies.

"If you think gold is a hedge, or a protection, you always want it as close to the individual and the entity as possible," Paul told the Tribune on Thursday. "Texas is better served if it knows exactly where the gold is rather than depending on the security of the Federal Reserve."

Bringing Texas' gold home has gained more traction this legislative session because of Perry’s vocal support for it. On conservative radio host Glenn Beck’s show on Tuesday, the governor said Texas was “in the process” — the legislative process, he later clarified — of “bringing gold that belongs to the state of Texas back into the state.” He argued that the state was at least as capable as the Federal Reserve of safeguarding Texas’ “physical gold.”

http://www.texastribune.org/2013/03/21/perry-some-lawmakers-want-states-gold-back-texas/

 

[talkingpointes]

Why is it for me at least, looking back Rick Perry and Herman Mccain actually seemed like genuinely good guys. Rick reminded me a bit too much of Bush, but for some reason I appreciate his simple sort of behavior.

 

[sailingaway]

the left is calling this Texas taking steps towards secession,not mere money management, by the way. Perry is far too NWO for that, though. Colorful, yes. Subtance, I don't think so.

http://www.rawstory.com/rs/2013/03/...ecession-with-rick-perrys-plan-to-hoard-gold/

 

[sailingaway]

Why is it for me at least, looking back Rick Perry and Herman Mccain actually seemed like genuinely good guys. Rick reminded me a bit too much of Bush, but for some reason I appreciate his simple sort of behavior.

He seems like a good guy but when you match what he says against his record including executive orders for vaccines and the Texas Toll Road etc, it doesn't really match up, now does it?

Cain I can't even go that far for. Did you WATCH his interviews?

 

[Sola_Fide]

Why is it for me at least, looking back Rick Perry and Herman Mccain actually seemed like genuinely good guys. Rick reminded me a bit too much of Bush, but for some reason I appreciate his simple sort of behavior.

Rick Perry is a dim-witted big government guy. He does things like this to attempt to be "revolutionary".

 

[jkr]

GET
ZEE
GOooOooOLLDDdDD!

 

[talkingpointes]

I know he is a dipshit. I don't doubt what everyone says. You have to admit he doesn't exude arrogance. That I find to be a good trait -- despite all else. I wouldn't vote for him.

 

[sailingaway]

I know he is a dipshit. I don't doubt what everyone says. You have to admit he doesn't exude arrogance. That I find to be a good trait -- despite all else. I wouldn't vote for him.

I agree he seems more likable than many others.

 

[Peace&Freedom]

GW Bush originally seemed to be personably likeable too. Perry's stance on gold is pure positioning, to make him look old school populist-conservative. He's eyeing the next Presidential race, or reelection as Governor.

 

[Slutter McGee]

I know he is a dipshit. I don't doubt what everyone says. You have to admit he doesn't exude arrogance. That I find to be a good trait -- despite all else. I wouldn't vote for him.

He is an aggy. Which means he is automatically arrogant.

Slutter McGee

 

[TheTexan]

That's got to piss off the Federalis. Rick Perry earns quite a few points in my book with this move. (He's still of course in the red, but this is a good step!)

 

[compromise]

In one of the 2012 debates, Perry thanked Dr. Paul's work on this issue for shaping his monetary policy stance.

 

[sailingaway]

In one of the 2012 debates, Perry thanked Dr. Paul's work on this issue for shaping his monetary policy stance.

So did Gingrich.

 

[compromise]

So did Gingrich.

I think Bachmann did too.

Santorum, Cain and Romney weren't concerned about the Fed, although Romney later flip-flopped and backed an audit.

I think it's great that Ron's ideas are catching on.

 

[sailingaway]

Yeah, he definitely won the discussion, nomination aside.

 

[sailingaway]

Here is zerohedge's take on it:

Texas Wants Its Gold Back From The Fed

Texas Moves to Repatriate its Gold from the Federal Reserve

This is one of the most interesting stories I have read regarding the precious metals market in quite some time. It appears that Texas Rep. Giovanni Capriglione has a bill in play that would move the state’s gold from New York (where its under the “safekeeping” of the ultra shady Federal Reserve) to a depository within the state of Texas itself. The reason this would be such a big deal if it happens, is because a lot of the gold bought and sold globally is not very likely not actually owned by those that “buy” it. From my perspective, pretty much the only countries that actually buy gold and bring it within their borders are China, Russia and Iran. Most other nations that claim they “bought” gold, most likely hold a certificate that states they have gold in London or New York. So in other words, they have no gold. It looks like Texas is wising up.

From the Star-Telegram:

Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Co., or UTIMCO, and stored by the Federal Reserve.

“If you think gold is a hedge, or a protection, you always want it as close to the individual and the entity as possible,” Paul told The Texas Tribune on Thursday.” Texas is better served if it knows exactly where the gold is rather than depending on the security of the Federal Reserve.”

You’ve gotta love Ron Paul. The guy is still raising hell even after he left Congress.

The highly political Governor also appears to be on board…

“If we own it,” Perry said, “I will suggest to you that that’s not someone else’s determination whether we can take possession of it back or not.”

“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.”

Come on Rick, that sounds like terrorist talk.

The United States and many other countries stopped pegging their currencies to the gold standard decades ago. Capriglione said the bill is not about putting Texas on its own gold standard. Rather, a depository would give the state a reputation as being more financially secure in the event of a financial crisis.

Transporting gold from New York City or other banks to Texas would be impractical from a security and logistics standpoint, Capriglione said.

Ok, that’s just weird. Gold is shipped all over the world every single day. This isn’t even an international shipment. My guess is that the Fed has already made it clear they will not be sending any gold to Texas.

He believes that it makes more sense to sell the gold that Texas has elsewhere and repurchase it within state lines.

He said the measure wouldn’t pose a significant expense, because the gold bars could be safeguarded in a small area, no bigger than 20 square feet.

Again, if that’s all it is what’s so hard about shipping it?

Such a bill might not divide lawmakers strictly along party lines. Sen. Rodney Ellis, D-Houston, called it “an interesting concept” but said he wants to learn more about it and talk to “colleagues in the financial industry” before weighing in on its merits.

Great idea Rodney, because taking advice from Wall Street leads to such favorable outcomes.Full article here. http://www.star-telegram.com/2013/03/21/4721036/tarrant-lawmaker-seeks-to-create.html#storylink=cpy

http://www.zerohedge.com/news/2013-03-23/texas-wants-its-gold-back-fed#.UU4hn2YIw5E.twitter

 

[sailingaway]

wouldn't selling and buying it have tax consequences? Seems to me transporting it is the only reasonable thing to do.

 

[S.Shorland]

Beck took out Medina for Perry.

 

[cheapseats]

Rick Perry is a dim-witted big government guy. He does things like this to attempt to be "revolutionary".

...$1 billion worth of gold bars owned by the University of Texas Investment Management Company...

Rick Perry: If this guy prints more money between now and the election. I don't know what y’all would do to him in Iowa, but we -- we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treacherous -- or treasonous in my opinion.

Big talkin' man.

Hold his cowboy boots to the fire: PUT UP OR SHUT UP...that we may size you up as a presidential candidate.

[Yes, I KNOW he doesn't have a prayer. Yes, I KNOW about the commitment to Rand. But Rick Perry MIXES THINGS UP, in the manner of a hail-fellow-well-met livening up a boring party. He can AND THEY WILL throw his hat in the ring if it serves a purpose.]