An Independent Texas?
Governor Abbott signed legislation on Friday to move $1 billion of gold reserves out of New York, bring it back to Texas
(Associated Press) — Gov. Greg Abbott has signed a law creating a Texas Bullion Depository where the state — and even ordinary residents — can store gold.
The Republican said Friday that the measure will "repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas." The state's gold reserves are controlled by various agencies, including investment funds tied to its public universities.
The depository would be a secure facility administered by the Texas comptroller. Its location has yet to be been determined.
Southlake Republican Rep. Giovanni Capriglione first proposed the state depository in 2013, but his idea didn't gain traction until this session.
The law allows state agencies, but also citizens, businesses, nonprofits and banks, to use the depository to hold gold and other precious metals.
Thanks to The Libertarian Republican
|Bringing gold back home to Texas.|
The Republic of Texas (1836–1846)