Dandelion root extract found to kill leukemia cells, prostate cancer cells and chemo-resistant melanoma/
we covered a story coming out of Texas in which the state government was planning to institute a state-controlled "gold depository" that would allow individuals to store their gold in a presumably safe place outside the United States banking system.
This proposition was met with emotionally-charged denunciations from Americans in far away northeastern American states where it was claimed this measure was contrary to the "supremacy clause" and just a terrible idea in general because it undermined faith in the US's central government and the Federal Reserve System.
Well, in spite of the disapproval of New Yorkers, the Texas legislature passed the bill, and the governor signed it into law last June.
"With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state," Abbott said when he signed the bill.
The depository won’t just store state gold and other precious metals. The law requires that individual customers, and even school districts, be allowed to open accounts. Capriglione has described it as a bank that doesn’t do any lending.
Thus, not surprisingly, several private firms are now trying to become the creators of one of these depositories. The Ft. Worth Star-Telegram yesterday reported:
Saab’s company, one of many interested in being involved with the state’s plan to create a depository, proposes building a potentially $20 million facility — with no Texas tax dollars — on 40 acres of land it has in Shiner, about 250 miles south of Fort Worth.
The original sponsor of the bill, State Representative Giovanni Capriglione appears pleased with the progress being made:
“I am optimistic that the depository will be up and running at the end of this year or the beginning of next year,” Capriglione said. “The most important factor is making sure that the process is completed with considerable thought and care.”
At the depository, Texans will be able to open accounts similar to checking or savings accounts at traditional banks — and monitor them online.
The physical construction of the facility is very humdrum compared to the implications of the creation of a depository of this sort.
Laying the Ground Work for Electronic Gold-Based "Money"
For one, many state politicians hope that the State of Texas will be able to relocate its own gold holdings into Texas from New York where it currently sits. The state spends a million dollars per year on its storage.
Moreover, existence of the depository opens up the possibilities for users creating a new type of currency in which purchases are made electronically with the backing of the gold in the depository. In other words, one could potentially use the depository's infrastructure to make purchases using gold, and to have gold either directly deposited into another's account, or converted to US dollars and deposited in a conventional bank. Arguably, this is just an electronic version of gold-backed money.
Ironically, Zero Interest Rate Policy Has Made Gold Depositories More Practical
And now more than ever, the idea of paying fees on gold deposits has become relatively economical thanks to near-zero interest rates on ordinary bank accounts. In ages past when banks actually paid meaningful interest on deposits, one might wonder why anyone would pay a fee to store gold when one could collect interest on cash at a bank.
Thanks to the central banks' commitment to near-zero or even negative interest rates, though, holding cash in a bank no longer brings any benefit in terms of investment earnings. That is, the opportunity cost of storing gold in a depository is getting lower and lower thanks to central bank policy.
Watch Venezuela, Because Food Shortages, Looting And Economic Collapse Are Coming To America Too - May 16th, 2016
If you are walking down the street and somebody sticks a gun in your back and relieves you of your wallet--that's labelled a crime and the person(s) doing this act are labelled criminals. When a government man, probably carrying the same type of weapon, walks into your home and relieves you of your wallet it is called a tax.
In this campaign season it is becoming galling to hear politicians and would-be politicians lump Social Security and Medicare into the "Entitlement" ledger. When you try to explain the difference between an entitlement and an earned benefit to these people you usually get a blank stare or an "Um, oh" start to a stuttering reply.
The corruption that passes for the "Honorable" misfits goes beyond belief these days. I understand perfectly they robbed Peter (the Social Security Permanent Trust Fund) to pay Paul (people who never contributed a dime and some of their own pet projects) but the fact is the reply usually includes some wasted words about how people are living longer and therefore we can't afford to make the payments on what we stole from them. We (constituents) just have to understand the government can't pay all these entitlements any longer. Not unless they move Americans to the top of the entitlement list--which they are unwilling to do.
Great! Why don't these un-Honorable miscreants take a pay cut themselves if funds are so tight? How about they trim a few town hall meetings and spend more time in the Capitol doing their jobs rather than flying home to stand before some sycophants who can afford to be there because of real government entitlements. They are not doing their jobs anyway--a prime example is the recent unlimited budget resolution for the President. How about trimming the publicity junkets to other parts of the world to observe our relations or military there?
These bozos do not realize they were not elected to be rulers of the world but only to represent their portion of the United States. If they are going to waltz around the globe to get up-close and personal views, then why are we paying the CIA, FBI, State Department staff and our military to be there?
What is missing from the narrative is the current mantra that is being heard more frequently on Main Street, USA. "I'll never retire" is being tossed out more often than ever before. More than 20% of Americans over the age of 65 are still working--the highest level ever recorded.
That figure comes from the Bureau of Labor Statistics. Of course, relying on some statistic coming from a government agency is extremely harmful to one's health these days but digging into job numbers seems to support this particular assertion because of the slower rise from entry-level jobs to living wage positions..
More people delay retirement now than those seeking re-election or election would have you believe. The Recession was one downer for the Boomers but the increasingly hostile inflation market is another.
The simple reality is those working past 'normal retirement age' need the money. As reported last week here, almost two of every three American households no longer have savings to meet even a minor emergency.
Just over one in three respondents to a recent survey indicated they still liked going to work. This could be a backlash against the way of life for their parents. So many in the 70s and 80s "felt lost, without a purpose" after retiring. Today's Boomers have personal-experience fear of this lackluster life.
Another contributing problem was the wreckage of the 401(k) system. While the market level has recovered, some seniors got left behind by pulling their shares out when the market was at its worst. Some never have figured out the best way to handle cashing in their retirement plans.
But another culprit, particularly in the public pension plans, is underfunding. Since Forbes first brought the dilemma to light in the first quarter of 2009, this unfunded liability is more threatening today than ever before. On this one, the politicians need to look in the mirror. They simply promised more than could be repaid in order to buy votes from people they were then going to have to rob--sorry, I meant tax later on.
The liability is growing faster than tax revenues can replenish them because, unlike private sector workers and their plans--the funds were diverted by past Congresses to fund some outlandish plan or another stemming from the "Great Society" mandates.
But the Social Security aspect of the retirement pie cannot be classed as an entitlement. It was paid for by citizens and their employers--usually without thought--for the working life of the employee. Thus this particular government expense should not ever be confused with an entitlement.
Of course, the funds you pay in during your working life went to somebody already receiving SS. You never really had more than an IOU from the government. In that position, maybe the campaigners might be correct in their assertion. But nobody in Washington ever had the guts to step up and tell those who were working when the system was instituted that this was the biggest Ponzi scheme ever concocted.
Let me see, Charles Ponzi was convicted and the guy who takes your money without consent is convicted but those who work for the government and the politicians who direct them are not convicted for the same things.
If you are running for higher office, do every American a favor and just call it what it truly is--a theft. Legally enacted or done unwillingly, there is no other name for it but theft when it was removed from the workers' hand under false premises.
The sad fact is Al Capone may have had a legal leg for avoiding taxes in court if there were honest judges. But if federal judges actually ruled the tax system as the fraud it is, where would their next meal come from?
More and more Americans on Main Street can no longer afford to pay their taxes but you couldn't tell it from listening to the campaign speeches where paid-in benefits at a personal level are considered an unaffordable expense for the government now. We get a lousy entitlement tag for a lifetime of theft.
And they wonder why the anti-Washington sentiment grows.
"I have sworn on the altar of God eternal hostility to every form of tyranny over the mind of man."--Thomas Jefferson
Despite Sheriff Taking Responsibility for Release of David Bundy, Judge won’t release Him for this Reason/
CALIFORNIA WANTS TO OWN COPYRIGHTS ON EVERYTHING/
HELENA, Mont. (AP) — The Montana Supreme Court has barred state officials from reporting the immigration status of people seeking state services, striking down the last piece of a voter-approved law meant to deter people who are in the U.S. illegally from living and working in Montana.
The court's unanimous decision on Tuesday upholds a Helena judge's 2014 ruling in a lawsuit that the law denying unemployment benefits, university enrollment and other services to people who arrived in the country illegally was unconstitutional.
What is the Pentagon hiding about the Iranian seizure of two US Navy Riverine Craft?The Iranians are the enemy of this nation. They are nothing more, nothing less. Iran will remain an enemy of the United States
Scientists Create Embryos That Are Both ANIMAL And HUMAN...
A revered military leader, retired Lt. Gen. William “Jerry” Boykin, has been dismissed from his teaching post at Hampden-Sydney College in Virginia for comments he made responding to President Obama’s order to public schools to allow boys who “identify” as girls to use girls restrooms and changing facilities.
Read more at http://mobile.wnd.com/2016/05/toilet-terrorists-get-u-s-military-hero-canned/#UP2QGrbYd3qbGhvE.99
The first openly gay Army secretary is now serving the U.S., after being nominated by the Obama administration. Eric Fanning was confirmed by the Senate Tuesday. He is the first in any branch of the military, as reported by NBC News. It comes five years after “don’t ask, don’t tell” was repealed, a directive which prohibited homosexuals serving in the military from being open about their sexual preferences.
Britain's foreign spy agency MI6 flew a rainbow flag outside its London headquarters to mark the International Day Against Homophobia, Transphobia and Biphobia on Tuesday, and to woo potential applicants from the gay community.
NYSE Suspended Trading In Some Symbols After "Critical" Technical Issue
2 Powerful Earthquakes Rock Ecuador, Volcano and New Madrid Update
March Against Monsanto: Global Event 'Live Stream' Takes Place May 21st, 2016