UPDATED 6/5/2023 @ 2020 HOURS
HJR 146 Capriglione / SJR 67 Parker – Addition to Texas Bill of Rights to recognize natural right to use currency of choice. Resolution: Close, but no cigar. Glorious victory in the House with 139 – 2 vote, only to be ultimately thwarted by behind the scenes opposition by the Lt. Governor.
SB 2334 Hughes / HB 4903 Dorazio – Digital warehouse receipts/currency backed by gold and silver in Texas Bullion Depository. Resolution: Thwarted in both chambers for different reasons. In Senate, SB 2334 was assigned by the Lt. Governor by design to hostile Senate Finance Chair Joan Huffman, who killed it without a committee vote. HB 4903 was slow-walked in the jam-packed House State Affairs, and placed on last day Calendar, meaning it never got a vote on the House floor.
I notified my SD2 State Senator Bob Hall that I am fully and completely disgusted with Dan Patrick.
As reported earlier, Texas had the opportunity to become generally immune to the inevitable collapse of the Federal fiat currency, the US dollar. This was not one of Gov. Greg Abbott’s priorities.
History of Gold-Backed US Money
“A Gold Certificate is a United States-issued paper money bill that was fully redeemable in its face value of gold. This means back in the late 1800s and early 1900s, you could bring a Gold Certificate to the bank and receive equal value in gold to the denomination.” Source: OldMoneyPrices.com
According to the Bureau of Labor Statistics consumer price index, prices nowadays [May 2021] are about 53% higher than average prices since 2000. In other words, $1.00 in 2000 is equivalent to about $1.53 today.
What does all that mean?
- A $100,000 investment in gold in 2000 has a purchasing power of about $535,000 today [May 2021].
- $100,000 left in cash in 2000 would buy roughly $65,000 worth of goods today [May 2021].
Now with the national debt so high, what do you think cash versus gold will do over the next 5, 10, 20 years?
Forbes, 29 May 2021 | Five Things You Need To Know Before Buying Gold
Before my marriage in 1969, the hometown barber cut my hair for $1.25, no tip included. Today, 1 June 2023, my haircut this morning will cost $20.00, and I will tip my haircutter $5.00. Why is my haircut 16 times more costly today? Inflation of the US dollar. The haircut is not more costly; the US dollar is worth less.
How would a Texas gold-backed digital currency be of value to me and my fellow Texans? It would dramatically shield us from the inflationary perils of the US dollar. Learn about the Texas Gold Bullion Depository and a Texas gold-backed digital currency here: What do you know about the Texas Gold Bullion Depository?
Why Is This Important To YOU?
Absolutely NOTHING happens apart from finance. Finance as a verb means to supply with money or capital;
obtain money or credit for; fund — Example: How will we finance these expenses?
What expenses? School Choice; Public Schools; State agencies like the Comptroller, the Secretary of State, the State Attorney General; State secondary education; the Texas Department of Corrections; the TCEQ; Texas state courts; county governments; city governments; the Texas Department of Public Safety; your local fire departments; garbage collection and disposal; etc., etc., etc.
Not even ONE of the above public services can happen without finances.
Throughout human history, gold has been real money in all cultures, tribes, and countries.
The Exodus of the Jews who were enslaved in Egypt was financed by the Egyptians themselves. As it is written in Exodus 3:21-22, “I will give this people favor in the sight of the Egyptians, and it will come to pass, that, when you go, you will not go empty-handed. But every woman will borrow of her neighbor, and of her that sojourns in her house, articles of silver, and articles of gold, and clothing, and you will put them on your sons, and on your daughters—in this way you will plunder the Egyptians.”
Pertinent headline, 30 May 2023 | Lynette Zang: Will Texas Pave the Way for Gold-Backed Currency
One Historical Event Set The Stage for Socialism — Another ‘New Deal’ Would ‘Seal the Deal’ on Socialism
In 1929, the Great Depression began with the collapse of the US stock market. “Daddy” Franklin Roosevelt enthusiastically applied his limited knowledge to solve the problems of unemployment, bankruptcies, banking collapses, and other crises. To this day, FDR’s socialistic fingerprints can be seen throughout the country today. Through legislation and executive orders, Roosevelt produced and/or promulgated the WPA, Social Security, the PWA, CCC, CWA, FHA, FSA (federal security agency), HOLC (home owners loan corporation), NIRA (national industrial recovery act), and the Tennessee Valley Authority. Socialism was firmly established by our own federal government, grievously undermining our republican form of government.
What was the outcome of “Daddy” Roosevelt’s New Deal? On May 6, 1939, Henry Morgenthau, Roosevelt’s treasury secretary, confirmed the total failure of the New Deal to stop the Great Depression: “We are spending more than we have ever spent before, and it does not work. . . . I say after eight years of this Administration, we have just as much unemployment as when we started. . . . And an enormous debt to boot!”
In recent years, wise Republican President Ronald Reagan quipped: “The most terrifying words in the English language are: I’m from the government, and I’m here to help.”
Joe Biden and his unholy administration will be at the helm of our ship of state until 20 January 2025. You will witness greater federal spending, more inflation, higher fuel prices, higher food prices, more crime, and more infringements of our constitutionally-guaranteed civil rights. I also foresee financial avalanches, including bank failures, foreclosures in home mortgages, astronomical national debt, more government-sanctioned public disorder and crime that will lead to more business failures and the shuttering of stores, dramatic increases in anti-shoplifting measures by retail outlets, and greater, much greater, unemployment.
Central Planning and Socialism are Intellectual Failures
A society led by a body of people who assume their knowledge and wisdom is superior to the aggregate knowledge and wisdom of the whole of the people defies the reality of the greatest, most effective form of government in world history, the republican form of government.
Our founding fathers acknowledged God’s preeminent authority over our nation. God is our Creator and the Author of our natural rights, as stated in the Declaration of Independence.
The second highest authority in the governance of our country is the collective body of our citizens. The free market is the product of a free people exchanging goods and services between willing sellers and willing buyers.
Central planning has always been a false theory, never to be proven superior to the free market, the natural will of the whole body of the people.
There is danger in the exuberant feeling of ever-growing power which the advance of the physical sciences has engendered and which tempts man to try, “dizzy with success,” to use a characteristic phrase of early communism, to subject not only our natural but also our human environment to the control of a human will. The recognition of the insuperable limits to his knowledge ought indeed to teach the student of society a lesson of humility which should guard him against becoming an accomplice in men’s fatal striving to control society — a striving which makes him not only a tyrant over his fellows, but which may well make him the destroyer of a civilization which no brain has designed but which has grown from the free efforts of millions of individuals.
The Pretense of Knowledge: The Pretense of Knowledge, December 11, 1974.
National Debt
The Advantage of a Texas Gold-Backed Digital Currency
Gold preserves wealth. It is not subject to the ravages of fiat currency inflation. The US dollar is fiat currency. Its value is what the Fed says it is, and as corrected by world markets.
Unlike digital currencies Bitcoin, aka Crypto, Ethereum, USD Coin, etc, that are not backed by gold and precious metals, a Texas gold-backed digital currency would be backed by gold stored in our Texas Gold Bullion Depository in Leander, Texas, just north of Austin.
The Texas gold-backed digital currency would work like Glint. My wife and I have a personal Glint account whereby we own actual gold that is stored in a Swiss vault and insured by Lloyds of London. Glint issues a Mastercard with which we can spend gold anywhere in the world to purchase goods and services, and pay taxes and debts. Our Visa card is based on the US fiat currency. We can use our Visa Card anywhere in the world, also. The difference is striking. Our Glint Card is unaffected by the inflation of the US dollar.
The gold stored in the Texas Gold Bullion Depository is also insured by Lloyds of London.
Has the opportunity to become the greatest center for commodities trading for all of the United States slipped from our hands?
Knowledge is Power | Scientia Potentia Est
This was true for Sir Francis Bacon in 1597, and this remains true for you and me today.
If our Texas State government fails us, by not creating a gold-backed digital currency. No one individual bears responsibility but both political parties, and uninformed Texas voters.
“Wait a minute!” you say, “How am I failing my fellow Texans?”
In the Republican form of government, as stated in the preamble to the U.S. Constitution, We the People are the head of government. We have a sacred and solemn responsibility to be well-informed about the actions of our elected officeholders.
Joe Biden almost daily describes our form of government. This is false. For now. The U.S. Constitution, Article IV, Section 4 clearly states, “The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion.”
When have you read and studied the Declaration of Independence, the U.S. Constitution, and the Bill of Rights? What about the Texas State Constitution, Article 1 Bill of Rights?
Ignorance is a choice.
John White
Rockwall, Texas
John N. White 