You have to love Texas

[classhandicapper]

Making a move towards sound money.

http://www.thenewamerican.com/economy/economics/item/21257-texas-launches-gold-backed-bank-challenging-federal-reserve

[LottaKash]

Making a move towards sound money.

http://www.thenewamerican.com/economy/economics/item/21257-texas-launches-gold-backed-bank-challenging-federal-reserve

Class, I get a 1054-error at that website... :eek:

[Robert Goren]

Class, I get a 1054-error at that website... :eek:Me too. But that is what I come to expect from anything Texas anymore.

[Tom]

You got a bug up your arse about success?

[classhandicapper]

I'm not having any problem with it. Here's the start of the article with another link to it.

https://www.lewrockwell.com/2015/07/alex-newman/texas-launches-gold-backed-bank/

[Tom]

The link works for me....maybe it's not Texas with the problem! :D

[LottaKash]

The link works for me....maybe it's not Texas with the problem! :D

Now workin' fer me tu.... :jump:

[LottaKash]

We can now ditch the "bit-coins" and invest in "tex-coins"....I like it...

Getting ready for the inevitable implosion, I suspect...

[Tom]

Remember the Alamo.

[Robert Goren]

Was finally able to connect the site. It might be a safe place to store gold or it might not be. But anybody who thinks they are going to able to get their gold out of there during a financial Armageddon is in for a real surprise. In the long run, this going to have very little effect on anything. It is not big enough to. A billion dollars of currency, I would guess, would not be enough for Austin to operate, let alone some place Dallas or Houston. The amount of gold in the world at its present value when compared to the amount of commerce conducted every day is minuscule. There is not enough gold in existence for it to be a currency anymore. Just think of the handle for the Breeders Cup, 160 million, would eat up 16% the Texas currency. Even if figured the money in the handle turned over 5 times that is still 3% of the currency. When you compare the Breeders Cup to amount money bet on football that weekend and you will see a billion is not very much. The total value of Apple stock alone is worth 700 billion.

[MPRanger]

There is not enough gold in existence for it to be a currency anymore. .

If it was the currency for millions of people, it's value would rise like water seeking it's own level. Prices would be set in hundreths of a gram if it came to that but it would work.

[MPRanger]

Now sir, I must ask you to withdraw your unfounded comments about the Republic of Texas lest I demand satisfaction at dawn on the bank of the Trinity River where it crosses the Kickapoo Trace. I leave it to you to decide swords or pistols. Please have your second inform me of your decision by the middle evening.

By your leave sir.

[rastajenk]

Now we're talkin'! :ThmbUp:

:)

[Robert Fischer]

I haven't read the article yet, is thenewamerican a website that is worth reading?

A google search says it's connected to the john birch society.

[Steve 'StatMan']

I understand that China has bought major amounts of gold. Supposedly going to create their own gold-based currency. Read the post in this forum I believe which linked to an article with a billboard picture in Singapore about a cash-based currency as well. Our Fiat Money is only as strong as the United States is percieved, and anything that weakens the U.S., or worse, becomes the replacement World Reserve Currency puts our country's all of our personal finances in peril.

[iceknight]

Was finally able to connect the site. It might be a safe place that would have sufficed.

True value based is better than someone's word.

[Robert Goren]

I understand that China has bought major amounts of gold. Supposedly going to create their own gold-based currency. Read the post in this forum I believe which linked to an article with a billboard picture in Singapore about a cash-based currency as well. Our Fiat Money is only as strong as the United States is percieved, and anything that weakens the U.S., or worse, becomes the replacement World Reserve Currency puts our country's all of our personal finances in peril.Anybody that put their trust in a Chinese based currency will get what they deserve for such foolishness and will get no sympathy from me when the inevitable happens.

[Tom]

Anybody that put their trust in an IRANIAN agreement will get what they deserve for such foolishness and will get no sympathy from me when the inevitable happens.


What goes around comes around.

[Steve 'StatMan']

Anybody that put their trust in a Chinese based currency will get what they deserve for such foolishness and will get no sympathy from me when the inevitable happens.

Just so folks know, I'm not keen on this coming from China either, given that their communist government owns much of the country, and can seize anything at any time, no matter how much mixed in capitalism/consumer good & more piece of supposed freedom.