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April 22, 2015

Texas To Make Gold & Silver Legal Tender?

Texas, often on the receiving end of many jokes on television shows, and often ridiculed by their fellow states in the north, is now on the forefront of recognizing precious metals as real money.
Why make fun of one of the only states in the US that is actually growing, that isn’t massively in debt and that actually has a chance of succeeding and prospering in the future?
Broadly speaking, they are a freedom loving people, that doesn’t want government involved in every aspect of their life. They value hard work and shy away from the welfare state whenever possible.
This, of course, brings much negative attention by the mainstream media and its puppet masters in the government. The government hates independent people. In order for government to prosper and grow, it needs an increasingly larger pool of people who are dependent on the government in one way, shape or form. Government loves the welfare state. Ironically, the very thing that will eventually lead to its ultimate collapse.
The government also hates real money, such as gold and silver. Precious metals are in direct competition with their fiat money, which grants the government the majority of the control it has over its people, for it grants the ability to print money, a representation of work and labor, out of thin air.
Therefore, I will not be surprised if the resentment towards Texas from the Federal government grows that much stronger with the next piece of news I am about to share.
Texas, has begun to take the first steps in making gold and silver, legal tender once again! A bill introduced by State Rep. Giovanni Capriglione passed the house unanimously last week with a 7-0 vote. House bill 483, as mentioned, is a stepping stone towards reintroducing precious metals into the everyday lives of the citizens of Texas if they choose so.
The bill will create a state bullion depository. An excerpt of which can be read below:
(a) The Texas Bullion Depository is established as an agency of this state in the office of the comptroller.
(b) The depository is established to serve as the custodian, guardian, and administrator of certain bullion and specie that may be transferred to or otherwise acquired by this state or an agency, a political subdivision, or another instrumentality of this state.
Although you should always be skeptical whenever a government agency states that they intend “hold” your precious metals for you, what should be considered is the doors that this bill, if fully implemented, will open.
It would allow the ability for the Texas government to transact, receive and issue payments in precious metals. What does this mean? This means employees, could possibly receive their paychecks in precious metals. It also means that citizens would be able to pay their taxes in precious metals.
The importance of this last point cannot be taken lightly, as this has been one the key arguments for none believers of precious metals in the past. I don’t know how many times, I’ve heard the statement, “you can’t pay your taxes with precious metals, therefore it isn’t money”. This point is currently true, but obviously completely bogus in the validity of precious metals being money.
Gold and silver have been money for thousands of years and will continue to be so in the future. They represent, real, honest, tangible money. Not artificial, imaginary, fiat money, not worth the paper it’s not printed on.
Whether or not this bill passes its final stages is yet to be seen. It is likely, that the FED will apply pressure on this bill and attempt to stop it from being passed, behind the scenes.
If passed, we could see the beginning of a new era of free money, an era that would have monumental success and the possible eventual end of fiat money in America.

Source: SprottMoney.com
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