Big Step Forward for Sound Money: Texas Picks Company to Run Bullion Depository


Source: ActivistPost.com
Michael Maharrey
June 22, 2017

The Texas bullion depository took a major step closer to reality last week when officials formally announced the private vendor that will run the facility. The creation of a state bullion depository in Texas represents a power shift away from the federal government to the state, and it provides a blueprint that could ultimately end the Fed.

Gov. Greg Abbot signed legislation creating the state gold bullion and precious metal depository in June of 2015. The facility will not only provide a secure place for individuals, business, cities, counties, government agencies and even other countries to to store gold and other precious metals, the law also creates a mechanism to facilitate the everyday use of gold and silver in business transactions. In short, a person will be able to deposit gold or silver – and pay other people through electronic means or checks – in sound money.

Last Wednesday, Texas Comptroller Glenn Hegar announced Austin-based Lone Star Tangible Assets will build and operate the Texas Bullion Depository. Officials say the facility could open as early as next January.

The company will initially run the depository out of its current Austin location, and will build a new vault facility in the Austin area. Hegar said customers will not have to travel to Austin in order to utilize the depository. The plan is to establish a branch-like system.

“We envision a network of licensed and insured depository agents to help Texans sign up for our services,” Hegar told the Texas Tribune.

Tom Smelker will serve as the state’s first Texas Bullion Depository administrator. He is currently the director of Treasury Operations in the Comptroller’s office.

According to an article in the Star-Telegram, state officials want a facility ‘with an e-commerce component that also provides for secure physical storage for Bullion in an existing facility or a newly constructed facility.’ Officials say plans for a depository should include online services that would let customers accept, transfer and withdraw bullion deposits and related fees.

By making gold and silver available for regular, daily transactions by the general public, the new law has the potential for wide-reaching effect. Professor William Greene is an expert on constitutional tender and said in a paper for the Mises Institute that when people in multiple states actually start using gold and silver instead of Federal Reserve notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.

Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).

As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.

University of Houston political science professor Brandon Rottinghaus called development of a state gold depository a step toward independence.

This is another in a long line of ways to make Texas more self-reliant and less tethered to the federal government. The financial impact is small but the political impact is telling, Many conservatives are interested in returning to the gold standard and circumvent the Federal reserve in whatever small way they can.

The Texas gold depository will create a mechanism to challenge the federal government’s monopoly on money, and provides a blueprint for other states to follow. If the majority of states controlled their own supply of gold, it could conceivably make the Federal Reserve completely irrelevant.

State bullion depositories are one of four steps states can take to help bring down the Fed.

Read More At: ActivistPost.com
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Michael Maharrey [send him email] is the Communications Director for the Tenth Amendment Center, where this article first appeared. He proudly resides in the original home of the Principles of ’98 – Kentucky. See his blog archive here and his article archive here.He is the author of the book, Our Last Hope: Rediscovering the Lost Path to Liberty. You can visit his personal website at MichaelMaharrey.com and like him on Facebook HERE

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How Precious Metals Can Help Protect Your Wealth From Hackers


Source: ActivistPost.com
June 14, 2017
Stefan Gleason

Could your wealth be hacked? It’s a threat most investors overlook. But they do so at their own peril.

If elections can be hacked, then so can bank and brokerage accounts, as well as any online platforms for digital currencies.

More than five months into Donald Trump’s presidency, the “Russia hacked the election” conspiracy theories still won’t go away. They’re expanding to also implicate Russian hackers for meddling in elections in France and elsewhere. The latest Russian hacking story centers on Qatar.

According to the Guardian, “An investigation by the FBI has concluded that Russian hackers were responsible for sending out fake messages from the Qatari government, sparking the Gulf’s biggest diplomatic crisis in decades.”

The Russian government has repeatedly denied involvement in these hacking campaigns. Regardless of whether the news about Russian hackers is fake, the threat of cyber attacks is very real.

In recent months, major e-mail providers and e-commerce sites have been hit by hackers. They often take customers’ information and try to sell it on the dark web.

Think Bitcoins are “hack proof” due to cryptography? Think again. Tens of millions of dollars worth of the crypto-currency have been digitally stolen by hackers. The biggest heists hit Bitcoin exchanges Mt. Gox and Bitfinex. More recently, South Korean Bitcoin exchange Yapizon was hacked out of more than $5 million.

Electronic Banking Is Vulnerable to Hackers

Electronic banking and brokerage institutions are also vulnerable. A rogue government, a group of terrorists, or even a lone mischievous teenager could potentially crash markets by unleashing a debilitating computer virus or breaking into networks that undergird the financial system.

The worst-case scenario for the digital economy would be an electro-magnetic pulse (EMP) attack. An EMP could be triggered by an extreme solar flare or a nuclear detonation. In the event of an electro-magnetic pulse, large-scale economic disruptions could unfold as the power grid goes down and computer systems get fried.

If the Internet goes dark, then so does Bitcoin and other digital platforms. No online banking. Your ATM card may no longer work. A national “bank holiday” may have to be declared as a physical cash shortage sends the economy reverting to barter transactions.

Granted, this is an extreme scenario. But you don’t have to take extreme measures in order to protect yourself from it.

Reducing Your Vulnerability to Cyber Attacks: Simple Steps You Can Take

One of the most important steps to take to boost your resilience to digital threats is to hold tangible assets that aren’t dependent on, or connected to, the internet. Physical precious metals are a time-tested form of unhackable money.

Virtual ownership of metals in the form of futures, options, or exchange-traded products will leave you vulnerable to any of the major threats to the financial grid.

The upshot to owning low-premium bullion products you can hold in your hand is that it costs you nothing extra to obtain the protection and utility that physical metals provide.

We’re not suggesting that you pull everything out of your bank accounts and close all your credit cards – for now, they remain a convenience most of us won’t want to do without in our daily lives. (And we’re not saying to steer completely clear of cryptocurrencies either.)

But you can and should take steps to make your accounts at least somewhat more secure:

  • Close any dormant accounts that you no longer use.
  • Keep paper records, including statements, from accounts you access online.
  • Strengthen your passwords by lengthening them or using a password manager.
  • Avoid storing sensitive information directly on cell phones or other commonly stolen/ hacked devices.
  • Check your credit report regularly for signs of identity theft.
  • Install anti-virus software on your devices and keep it up to date.

For the portion of your wealth you want to secure in physical, off-the-grid metal, make sure you keep it far removed from the banking system. That means not storing your precious metals in a bank safe-deposit box that could be raided or rendered inaccessible during a financial crisis.

Keep at least some portion of your gold and silver stash stored in a home safe for immediate accessibility at all times. And keep quiet about it! Your neighbors don’t need to know all about your pure silver bars or your shiny gold Krugerrands.

For the portion of your precious metals holdings you don’t want to keep at home, opt for a secure bullion storage facility such as Money Metals Depository.

MMD only uses physically segregated storage which ensures your metals aren’t pooled or co-mingled with those of other customers.

Even as new and potentially bigger cyber threats emerge, you can rest comfortably knowing much of your wealth is beyond the reach of hackers. That peace of mind is difficult to put a price on. Fortunately, it’s not difficult to obtain. Rotating wealth out of financial assets and into hard assets is as easy as writing a check to a reputable bullion dealer such as Money Metals Exchange.

Read More At: ActivistPost.com

Stefan Gleason is President of Money Metals Exchange, the national precious metals company named 2015 “Dealer of the Year” in the United States by an independent global ratings group. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC, and his writings have appeared in hundreds of publications such as the Wall Street Journal, TheStreet.com, Seeking Alpha, Detroit News, Washington Times, and National Review.

Catherine Austin Fitts – The Debt Game Is Over

Source: USAWatchDog.com
Greg Hunter
July 18, 2016

On the economy crashing this year, investment banker and former Assistant Secretary of Housing, Catherine Austin Fitts says, “Could we turn into a bear market? I think given the commitment to equity markets and given the willingness to debase the currency, I think the chances of that are relatively small this year. Next year, depending on what happens in the election, the gloves are going to come off globally about what’s been going on in the U.S. Anything could happen. That’s the danger if you are an investment advisor or an investor. The swings here is we could be up 30%, or we could be down 50%. A black swan could happen, so if you are an investor, you need to be prepared for very, very wide swings both up and down in prices in the equity markets. Here’s the important thing to remember. . . . We now have $12 trillion sitting in negative interest rates. Where’s all that money going to go? It can’t sit there getting nothing. It will have to go into real estate. It’s going to have to go into equity. It’s going to have to go to precious metals because it can’t sit there getting no or negative yields forever. . . . The debt game is over.”

On gold and silver, Fitts says, “Interest rates coming down makes gold and silver more attractive. I think the number one thing driving precious metals is you’ve still got growth going on in Asia, and they are buyers. People are afraid, and they are looking at what is going on with the leadership, and they are getting scared. They want to hedge their bets, and gold and silver is where you go when you don’t trust the system.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Catherine Austin Fitts, publisher of The Solari Report at Solari.com.

All links can be found here: http://usawatchdog.com/us-clinton-bey…

The Gold Standard: Friend Of The Middle Class

In-Gold-We-Trust
Source: AntoniusAquinas.com
July 8, 2016

It has been theoretically demonstrated and seen in general practice that a monetary system of 100% metallic money devoid of central banking checks monetary inflation, prevents a general rise in the price level, and eliminates the dreaded business cycle while making all sorts of monetary mischief nearly impossible.  A gold standard is not only economically superior to any paper money scheme, but is morally just, which is why it is hated by the politically well-connected, academics, politicians, and the rest of the Establishment.

Often not discussed, however, even by its proponents is the beneficial effect that “hard money” has for the middle class.

It is not a coincidence that since the U.S. left the last vestiges of the gold standard in 1971 with President Nixon’s nefarious decision to no longer redeem international central bank payments in gold, real wages for Americans have stagnated.  Nixon’s decision to put the nation on an irredeemable paper money standard set it on a course of economic ruination, which is why he should have been hounded from office not for his role in the bungled, petty cover up at the Watergate.

Stagnating wage rates have been confirmed by a number of studies, take, for instance one from the Pew Research Center which states that “today’s average hourly wage has just about the same purchasing power as it did in 1979. . . . [I]n real terms the average wage peaked more than 40 years ago: The $4.03-an-hour rate recorded in January 1973 has the same purchasing power as $22.41 would today.”*

While the absence of the gold standard has impoverished laborers, it has benefitted (not surprisingly) the very wealthy – hence, the reason why it was abandoned, as the Pew Study reports: “What gains have been made, have gone to the upper income brackets.  Since 2000, usual weekly wages have fallen 3.7% (in real terms) among workers in the lowest tenth of the earnings distribution, and 3% among the lowest quarter.  But among people near the top of the distribution, real wages have risen 9.7%.”**

Continue Reading At: AntoniusAquinas.com

Social Justice, Prosperity, and Precious Metals – Jeff Nielson

Social Justice, Prosperity, and Precious Metals - Jeff Nielson

Source: SprottMoney
Jeff Nielson
February 12, 2016

A question may go through the minds of some readers as they read many of the articles written by this “precious metals commentator.” That question is one of relevance. Why should readers or investors who are interested in precious metals want to read about “politics,” geopolitical events, or even social justice issues?

We need to know about politics in order to be aware of the rapid and alarming deterioration of our personal and property security. As individuals, our “rights” have been gutted by new fascist laws. These laws attempt to supersede our constitutions and are thus null and void. The problem is that we are governed by corrupt regimes who no longer recognize the Rule of Law and thus the supremacy of our own constitutions.

In turn, this type of governance deprives us of our property security. A financial crime syndicate is now allowed to serially steal all wealth we have in paper form by deliberately manufacturing a double-digit rate of “inflation” while our governments deny this inflation exists. This rate of inflation is, literally, the rate at which this crime syndicate steals all our paper wealth via the corrupted power of the printing press.

Give me control of a nation’s money, and I care not who makes the laws.

  • – Mayer Amschel Rothschild (1744 – 1812)

In the absence of the gold standard, there is no way to prevent confiscation of savings through inflation.

  • – Alan Greenspan (1966)

Not content with this serial rate of theft; the banksters have now gone well beyond this level of criminality. With “the bail-in,” some of these financial criminals now claim the right to steal any paper asset, of any type, from any kind of paper account . In turn, our puppet governments have meekly acknowledged their intent to rubber-stamp the lawless confiscation of private property by these so-called “banks.”

The “geopolitical events” occurring in the world, such as the shams and half-truths presented by corporate media, are the pretext used by our corrupt governments for devolving our societies and economies still further. Therefore, we need to learn about developments here in order to properly understand our level of economic peril and in turn our level of economic need for history’s ultimate safe havens .

But who cares about “social justice” or even economic justice? It’s the New Normal now and we can’t afford to become fixated on such concerns because we all have to focus on just taking care of ourselves.

No.

United we stand, divided we fall. These are much more than mere words. We are a communal species. Our own prosperity as individuals (and perhaps even our own survival) hinges upon the health of our communities. In our modern societies, this means the health of our nations, our provinces or states, and our municipalities.

Continue Reading At: SprottMoney.com

Cashless Societies – How Realistic?


Source: DailyBell.com
December 28, 2015

In Sweden, a Cash-Free Future Nears … Parishioners text tithes to their churches. Homeless street vendors carry mobile credit-card readers. Even the Abba Museum, despite being a shrine to the 1970s pop group that wrote “Money, Money, Money,” considers cash so last-century that it does not accept bills and coins. Few places are tilting toward a cashless future as quickly as Sweden, which has become hooked on the convenience of paying by app and plastic. – New York Times

Dominant Social Theme: Remove analog money ASAP.

Free-Market Analysis: Sweden is being touted as the wave of the future as regards money, but perhaps not.

When something is profiled in The New York Times, as the “new” cashless Sweden just was, we need to consider whether the trend is subject to change or is not so powerful as we are being led to believe.

One of the problems with seeing Sweden as a pioneer is that its population is fairly cohesive. In fact, Swedes constitute a good example of the tribes we often refer to in Europe. Europe is full of tribes. The French are notoriously tribal and it strikes us that the British fought two world wars to shatter Germanic tribal unity.

Years ago, we reported regularly on what would happen when “Europe” stopped being of benefit to the tribes. Because it has been disguised by rhetoric, people often don’t understand why the tribes gave up so much including their ancient currencies to join Europe.

In fact, they were often bribed by pots of EU money that poured into the government to adjust unallowable deficits. The top elites pocketed this money and then went to work campaigning for EU unity. Once the EU agenda triumphed, those in power slipped away with the money and the larger population was stuck with an evolving authoritarian empire.

It was inevitable that the tribes, once lulled by good times and cash infusions, would begin to resent an era of “austerity” and impoverishment. What we didn’t anticipate was that the European elites had an answer: Organize a mass Islamic migration (apparently this is what’s going on) that would cause confusion within Europe’s tribal countries and focus resentment away from Brussels and the monetary system and toward “Islamification.”

Continue Reading At: DailyBell.com