July 18, 2015

Texas Launches Gold-backed Bank, Challenging Federal Reserve

The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law.

Under the measure, passed overwhelmingly by lawmakers and signed in mid-June by Republican Governor Greg Abbott, Lone Star State officials will establish and operate the Texas Bullion Depository for anyone who would like to deposit and trade in precious metals. The implications are as big as Texas. Read more.

New American

Related,
Texas wants its gold back from the feds - CBS News
Texas wants its gold back! Wait, what? - Washington Post

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