Texas Launches Gold-backed Bank, Challenging Federal Reserve

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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.

While some analysts have said the move may be another sign heralding Texas’ eventual secession from the union, or preparation for financial Armageddon, its advocates say the depository simply makes financial sense. Among other benefits, the institution will provide more options to consumers weary of the increasingly troubled traditional banking and monetary system, which is viewed by the public with growing suspicion. And experts say the effect of making it easier to use sound money in commerce could be far-reaching. Continue reading

Abbott orders Texas Military to monitor U.S. Army exercise

Gov. Greg Abbott has ordered members of the Texas Military to monitor federal troops in an upcoming two-month training exercise planned for the Lone Star State.

Operation Jade Helm will bring the U.S. military’s most elite soldiers, including the Green Berets and Navy SEALS, to Texas for simulated special operations in a hostile territory.

But plans for the exercise have roused fears in some Texans of a federal occupation.

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