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overtheedge
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Gold Bullion Worth $1 Billion To Be “Repatriated” From NY Fed To New Texas Bullion Depository - Mark O'Byrne - gold.ie

The Federal government claims supremacy over the states. This got its main arguments from the outcome of the Civil War.
The rights supposedly guaranteed by the first 10 amendments to the Constitution are routinely violated.
It has been a long tradition of the US Supreme Court to avoid at all costs making any rulings on Constitutionality.
Imagine the legal messes rulings on Constitutionality would have. Myriads of laws gone bad, retrials, perhaps even emptying jails.

So,
#1 Texas hasn't a depository as yet.
#2 Texas hasn't taken delivery. Can we spell re-hypothecated? How about a Federal Injunction?
#3 The US beat the Confederacy once already. Could Texas count on South Carolina, Georgia or Arkansas to help? Missouri, maybe.
#4 Who has an Army? Article I, section 10, US Constitution specifically states that, "No State shall, without the Consent of Congress, ..., keep Troops, ... ." Just who has the capacity to stop or prevent confiscation?

And the drama unfolds. Stay tuned for the next exciting episode. And the next. And the next, ad naseum.

Commented 3438 days ago

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Beginning of the headline :- Texas creates state gold depository – bringing gold home from New York Fed- Move to remove gold from Federal Reserve highlights distrust- Follows repatriation moves by Germany, Netherlands, Austria and others- Legislation will prevent Federal government from confiscating gold- Includes provisions that may lead to return to using gold as currency in the U.S. - New gold electronic payments system protect from “national financial or currency crisis” - European, UK and Irish governments could lear... Read More

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