Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”

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Screen Shot 2015-06-15 at 5.45.34 AM…also The Week Ahead: FOMC, Currency Wars, Greece and More

The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now – as we noted was possible previously – Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed’s vaults to a newly established state gold bullion depository…”People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold,” and the Bill includes a section to prevent forced seizure from the Federal Government.

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