Repatriation of Gold

“From August 22^nd through 24^th, an extended coalition of over 40 nations which has become known as BRICS+ will meet in Johannesburg, South Africa. Among the likely topics of discussion is the feasibility of setting up a jointly-owned international financial institution. It would be funded by gold deposits, issue a currency, and extend loans tied to the spot value of gold. There are substantial reasons to doubt the workability of the growing consortium’s plan. But to dismiss it summarily, whether as bad economics or rote anti-American propaganda, is to dismiss a moment five decades in the making.” read more A World Dedollarized is Gold Remonetized | by Peter C. Earle, AIER, August 1, 2023

The World’s Gold Reserves

“The tangled tale of Venezuela’s gold reserves holds some lessons which other countries are apparently taking note of. In recent years, the South American oil-rich country has suffered from severe hyperinflation (reaching more than 34,000% per year) and the inevitable social malaise that brings. Four years ago, the UK government recognized Juan Guaido as Venezuela’s President after the country’s National Assembly declared the incumbent Nicolas Maduro’s 2018 re-election invalid. Venezuela’s National Assembly declared its president, Guaido, to be President of the country. Guaido called for an uprising (which failed) in 2019 against Maduro, who continued to control state institutions. Initially a popular domestic figure, Guaido gained early support from the US, the European Union, and the UK, who saw him as a sympathetic and democratic leader. However, leading opposition parties voted to oust Guaido last year, and his interim government was dissolved last December, with fresh Presidential elections planned for 2024. Guaido is no longer recognized by the British government as Venezuela’s leader.” read more Gold Repatriation Trend Grows | by Gary Meade, GLINT, July 11, 2023

BRICS: Acronym for Brazil, Russia, India, China, and South Africa

Then (2001)

“What is BRICS? BRICS is an acronym for Brazil, Russia, India, China, and South Africa. Goldman Sachs economist Jim O’Neill coined the term BRIC (without South Africa) in 2001, claiming that by 2050 the four BRIC economies would come to dominate the global economy. South Africa was added to the list in 2010.” read more BRICS: Acronym for Brazil, Russia, India, China, and South Africa | by James Chen, Investopedia, July 7, 2022

BRICS started in 2001 as BRIC, an acronym coined by Goldman Sachs for Brazil, Russia, India, and China. South Africa was added in 2010.

Now (2023)

“JOHANNESBURG, July 20 (Reuters) – More than 40 countries have expressed interest in joining the BRICS group of nations, South Africa’s top diplomat in charge of relations with the bloc said on Thursday.

Anil Sooklal and officials from the Department of Foreign Affairs were addressing journalists in the main commercial city of Johannesburg, a day after South Africa confirmed Russia’s Vladamir Putin would not attend the BRICS summit due to take place on Aug. 22-24.

The question of how far and fast to expand the club – centered around Brazil, Russia, India, China, and South Africa – is top of the agenda at the summit of nations seeking to offset to the perceived hegemony of the U.S.-led West in global affairs.

Aside from the 22 countries that had formally asked to join, Sooklal said there was “an equal number of countries that have informally expressed interest in becoming BRICS members … (including) all the major global south countries”.” read more More than 40 nations interested in joining BRICS, South Africa says | by Tim Cocks, July 20, 2023

History: Gold as Money

Circa 6,000 BC | “A river flowed out of Eden to water the garden, and from there it parted and became four rivers. The name of the first is Pishon; it encompasses the whole land of Havilah, where there is gold. The gold of that land is good; bdellium and the onyx stone are there.” Genesis 2:10-12

“From the gold and silver in Solomon’s temple to heaven’s streets of pure gold, there are more than 700 references to these two precious metals in the Bible. As relevant and desired as gold and silver are today throughout most cultures, they have a much older and timeless context within the Bible. When examining scripture, a reader can draw three critical characteristics about gold and silver: their divine origin, intrinsic value, and monetary quality.” read more What Does the Bible Say About Gold and Silver? | by Joel Bauman, January 24, 2017

2015 AD | “Uncle Sam’s loss will be Texas’s golden gain, Texas Gov. Greg Abbott declared after signing a proposal into law creating the Texas Bullion Depository.

“The law,” Abbott’s office said in a June 2015 press release, “will repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas.” Repatriate, per Merriam-Webster, means to send money back to your country.

“The bullion depository will serve as the custodian, guardian, and administrator of bullion that may be transferred to or otherwise acquired by the State of Texas,” the governor’s office said.” read more Greg Abbott says $1 billion in gold bullion headed to Texas from Federal Reserve | PolitiFact, by W. Gardner Selby, June 26, 2015

2015 AD | “As Texas develops the nation’s first state-run bullion depository, supporters predict the state could become a national destination for investors in gold, silver, and other precious metals.

When Gov. Greg Abbott signed a bill last month to create the state’s own bullion depository, he prompted national speculation that the state was preparing to launch its own currency and setting the stage for secession. Adding to the intrigue was Abbott’s declaration that the state would “repatriate” $1 billion of gold bullion being stored in New York to Texas.

The actual goals of the depository are far less dramatic than secession, and any movement of gold from New York to Texas is less certain than Abbott originally conveyed. Yet if all goes according to plan, supporters say, the depository could make Texas an international destination for people investing in gold, silver and other precious metals.” read more In Planned Bullion Depository, Supporters See a Golden Opportunity | The Texas Tribune, by Aman Batheja, July 3, 2015

2016 AD | “Central bank digital currencies (CBDC) have become a popular topic of discussion in recent months as more than 100 governments from around the world are in various stages of exploring the launch of digital cash … Friday’s release of a regulatory framework by the Biden White House included a section on policy objectives for a CBDC system, which brought the U.S. one step closer to creating a digital dollar… To gain further insight into what a digital dollar would mean for the global financial system, Kitco Crypto interviewed William Luther, Director of the Sound Money Project at the American Institute for Economic Research (AIER) and an Associate Professor of Economics at Florida Atlantic University… When it comes to CBDCs, Luther noted that it is important to first understand the difference between actual dollars and claims to actual dollars… “Americans already have access to a host of digital dollar accounts, which are provided by banks and other financial institutions,” Luther said, “But the assets in these accounts are not actual dollars. They are claims to actual dollars.” read more A digital dollar would allow Americans to directly open up an account at the Fed | KITCO News, by Jordan Finneseth, September 16, 2022

2023 AD | “AUSTIN, Texas (May 3, 2023) – Yesterday, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies. Enactment of this legislation would create an option for people to conduct business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money, and possibly create a viable alternative to a central bank digital currency (CBDC).” read more Texas Committee Passes Bill to Create 100% Reserve Gold and Silver-Backed Transactional Currencies | Tenth Amendment Center, by Mike Maharrey, May 3, 2023

2023 AD | “A Texas Senate committee considered a proposal Monday [May 8, 2023] that could give Texans the ability to purchase everyday goods with a new digital currency backed by Texas gold.

Senate Bill 2334 proposes to:

• Establish a new gold and silver-based digital currency through the Texas Comptroller of Public Accounts office.
• Back each unit of issued digital currency with a corresponding fraction of a troy ounce of gold or silver held in trust.
• Allow for individual accounts to be created at the Texas Bullion Depository that could be used to conduct transactions.

The proposal by Sen. Bryan Hughes, R-Mineola, would give people the option to deposit gold or silver into the state’s bullion depository and have access to spend from their account, just like with a debit or credit card.” read more Austin American-Statesman, by Hogan Gore, May 9, 2023

2023 AD | Lt. Gov. Dan Patrick assigned SB2334 to Joan Huffman’s committee where she never allowed the committee to debate the bill.

My opinion: Dan Patrick opposed our opportunity to choose to protect ourselves from the federal Central Bank Digital Currency that will strip away what little privacy we have now. The federal government will be able to control our lives the same way Communist China controls the lives of its citizens through an enormous database on all 330+ million Americans.

Action by Texans

Contact the office of Governor Greg Abbott. Ask him to hold a Special Session of the Legislature to create a Texas Gold-Backed digital currency that will protect Texans from the growing tyranny of the Federal Government and from the inflation of the US dollar.

Contact the Governor’s Office

Go to https://gov.texas.gov/contact

Select – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – ➔

Ask him to hold a Special Session of the Legislature to create a Texas Gold-Backed digital currency that will protect Texans from the growing tyranny of the Federal Government and from the inflation of the US dollar.

Is Texas Gold-Backed Digital Currency Constitutional?

Yes, as per Article I, Section 10, “No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts”

Personal

I have a GLINT Mastercard with which I can purchase anything, anywhere in the world. “Glint offers an alternative to fiat currencies enabling our clients to buy, save, send and spend allocated gold with the flexibility of Mastercard.” Learn more about GLINT gold-backed digital currency.

A Texas gold-backed digital currency would work like the GLINT gold-backed digital currency. Unlike the Federal CBDC backed by NOTHING, the Texas Mastercard is unaffected by US dollar inflation. Your purchasing power would be secured by actual gold stored in the Texas Gold Bullion Depository in Leander, Texas.

God bless Texas!

John White
Rockwall, Texas