Has Texas opened its own gold-backed bank? Does this challenge the U.S. Federal Reserve Bank? Gov. Greg Abbott (R-Texas) signed House Bill 483 into law, which will establish a state gold bullion depository. No, this is not a joke. This is for real.
Texas. Governor Abbott issued the following statement:
“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.”
This is really big news. Why is there no coverage from the mainstream media?
Rep. Giovanni Capriglione discusses the matter with a host of TRUNEWS, as can be heard on the YouTube video. Rep Giovanni said that gold will be used as money. The details are bound to come out sooner or later.
Capriglione is an advocate for greater accountability and transparency in state government. He announced in 2015 that he will seek further ways to make public information more readily available to the citizenry. His proposed House Bill 483 proposes the establishment of a state bullion depository to insure that Texas has first rights to its gold, rather than the U.S. government.
