Texas decided to repatriate $1 Billion dollars worth of their gold from the Federal Reserve, and unlike Germany, they got it. Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable" | Zero Hedge Check out the fine print. This is the best news I've heard in a while, and it makes me want to move to Texas.
Be sure to note the statement by Kyle Bass. We've heard from him before: Take an hour....interesting Kyle Bass Speech | Survival Forums
I suspect that with very little effort Texas could become the New Switzerland and wind up with more gold on deposit than California ever dreamed of mining. And right along with that, they could form the Texas International Bank, and provide snoop-free banking and investment services to clients all over the world. That could be a real boost for the local economy.
and ALL without dealing with the FEDs, or their Banking System, by using State Chartered Banks..... The only issue would be that they can't print their OWN MONEY, because as long as they are in the Union, only the FEDs can Print Money, so they would have to use GreenBacks, or someone else's Currency, backed by Texas Gold.... Now if the Seceded from the Union, then, the Sky is the Limit, but I suspect that would Start the Second US Civil War....
Texas Fires Warning Shot! They Are Taking Their Gold Back - Retired US Navy SEAL Sends Dire Warning To Military And Govt Employees: They Will Kill You
Perhaps not. They can transfer gold between accounts. They would need to issue gold backed credit cards for transactions between bank clients. All gold would remain within the bank, and just get reassigned per gold contracts.(within the banking clients)
State Charter or not, they would still have to have Deposit Insurance from the FederalDIC. Unless, the State chartered its own deposit insurance fund.
You don't really own gold, silver or anything until you hold it in your hand and have the will and ability to keep others from taking it.
A Golden Tipping Point: University of Texas Takes Delivery Of $1 Billion In Physical Gold | Zero Hedge UT got theirs back in 2011.