The choice of a title for this article was borrowed from the song Money Money Money, by Abba.
Why Gold-Backed Money?
When the debt-to-GDP ratio of any organization or family exceeds 100%, bankruptcy is the inevitable consequence.
World Population Review has reported that countries whose debt-to-GDP ratios exceed 77% for prolonged periods experience significant slowdowns in economic growth. This can have a negative impact, as it can reduce a nation’s annual real growth.
Investopedia — Debt-to-GDP Ratio: Formula and What It Can Tell You
Some countries are in worse shape than the USA. According to World Population Review: Debt to GDP Ratio by Country 2025. This does not dispel the perils of inflation for the common US citizen.
The Texas Bullion Depository
The Texas Legislature authorized a Texas bullion depository in 2015. The depository opened for business in 2018. The following KXAN TV video summarizes how it was built, financed, and put into operation in Leander, Texas.
Texas Scorecard Headline, June 25, 2025: Texans Can Use Precious Metals in Everyday Transactions Under New Law
Excerpts:
Gov. Greg Abbott has signed into law a measure allowing Texans to use precious metals in day-to-day financial transactions, despite the objections of banking lobbyists.
House Bill 1056 by State Rep. Mark Dorazio (R–San Antonio) allows Texans to deposit precious metals with the Texas Bullion Depository in Leander and use a debit card system for purchases, similar to traditional currency.
It invokes a frequently overlooked provision in the U.S. Constitution that permits the state comptroller to authorize the use of gold and silver as currency.
Article 1, Section 10 of the U.S. Constitution states, “No state shall coin money, emit bills of credit, or make anything but gold and silver coin a tender in payment of debts.”
Read more from Texas Scorecard
Bullion-based monetary transactions protect participants from the ravages of U.S. dollar inflation, as explained in this Economic War Room video.
Is Texas Bullion-Backed Money Constitutional?
Yes, as per Article I, Section 10 of the U.S. Constitution.
“No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.“
Will the State of Texas Go Into The Business of Printing Money?
No. Participants will be issued an internationally recognized debit card.
Our state gold-backed money will work similarly to GLINT. Learn about this proven international payment system from https://glintpay.com/us.
Are you enjoying the ravages of inflation of the U.S. Dollar?
Closing Thoughts
Don’t think for a moment that your banker is your friend. A Dallas Express article titled Banking Groups Call For Veto Of Texas Precious Metals Bill, posted on June 8, 2025, reports how Texas bankers acted in opposition to the 2024 Texas State Republican Party Platform, plank 32.
Texas Currencies: Texas should recognize the natural right to use currency of choice in the Texas Bill of Rights and provide choices for ordinary Texans to use gold and silver in everyday transactions. The State of Texas shall prohibit the use of Central Bank Digital Currencies (CBDC) for use as legal tender to conduct private and commercial transactions or to settle debts, public or private. The State of Texas does not recognize the authority of the Federal Reserve Bank or the United States Treasury to create or implement Central Bank Digital Currencies as legal tender consistent with the provisions delegated to the Federal Government under Article 1, Section 8, of the Constitution of the United States of America.
Bankers are desperate to stay relevant, to stay in business. Across the nation, banks are failing or closing branch offices, according to credible reports posted on the internet.
- June 1, 2025 – Bank of America Branch Closures 2025: Full List, Reasons, and Impact on Local Communities
- March 21, 2025 – BANKING BUST Chase, Bank of America and Wells Fargo among banks closed in just 5 weeks in shock moves dominating shut downs in 2025
- April 3, 2025 – One of Texas’ Largest Banks [Wells Fargo] Is Now Closing Down Branches Statewide
Scientia Potentia Est
The heart of the prudent gets knowledge,
and the ear of the wise seeks knowledge.
Proverbs 18:15 MEV
John White
Rockwall, Texas
John N. White 