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As the U.S. dollar continues to weaken, the state of Texas is taking measures to prepare for potential economic crises by increasing its gold reserves. This move is part of a larger trend among states and countries alike to diversify their holdings and hedge against volatility in the currency markets.
Over the past decade, there has been a growing sense of unease about the stability of the global financial system. The 2008 financial crisis exposed the fragility of traditional currencies and highlighted the need for alternative forms of currency and asset allocation. Since then, many individuals, businesses, and governments have turned to gold as a safe haven investment during times of economic instability.
Texas, in particular, has been a leader in this movement. In 2015, the state passed legislation to create a gold depository, allowing individuals and institutions to store their gold in the state rather than relying on foreign banks or federal institutions. This move created a more transparent and secure system for storing gold, and it further solidified Texas as a hub for precious metal investments.
Now, as the U.S. dollar continues to weaken, Texas is taking further measures to protect its financial interests by increasing its gold holdings. According to reports, the state’s gold reserves have risen by more than 6,000 ounces in the past year alone, bringing the total amount to over $1 billion.
This move is significant because it demonstrates Texas’ willingness to proactively address potential economic crises and to diversify its holdings in order to minimize risk. By investing in gold, the state is effectively hedging against the possibility of inflation or sudden currency fluctuations, which could cause serious damage to the state’s economy.
It’s worth noting that Texas is not alone in this trend of increasing gold reserves. Countries like Russia and China have been stockpiling gold in recent years, and central banks around the world have been diversifying their holdings as well. This is all part of a larger effort to prepare for the possibility of an economic downturn and to ensure that countries and states have the resources they need to weather the storm.
In the end, Texas’ decision to increase its gold reserves is a smart move that reflects a larger shift in global financial strategy. As the U.S. dollar continues to weaken and economic uncertainty persists, it’s important to have a diversified portfolio that includes alternative assets like gold. By taking proactive steps to prepare for potential crises, states like Texas are positioning themselves for long-term financial stability and success.
What is your take on the reasons why Texas and other states are creating/ increasing their gold reserves? Watch more videos here: https://rumble.com/c/LenaPetrova & subscribe to my Newsletter – https://lenapetrova.substack.com/.
Great video, thanks
Im from Utah i was wondering if other states were planning on creating there own bullion bank like texas the more the better then they could transact with each other keeping the gold and silver states together it seems. I hope that would be the case. Then those states could trade goods with each other
Its almost like Texas and these other states want to act more like countries and less dependent on the wise, brilliant and benevolent leadership in DC.
Fiat currency under this federal administration is done. If there is change at the 2024 election, fiat USD may reemerge. Not sure if I want to trust more government monetary creation even if it is the state government. Previous metals for now!!
I can only imagine if state's started doing THIS 20 year's ago.
End the FED, AMand let the world go FREE!!!
That’s frightening- it’s also more frightening that the US led neoliberal order died in 08 & instead of considering the restructuring & reform it required instead of accepting austerity is NOT the end of history we did nothing but print & give 0% to the banks & the corporations
The US like the world they believe God said they own looted the working class & poor w Trump leading the pack w his socialism 4 the rich deregulation & of course covid heists which I’m sure in 2 decades we will learn was a US weapon –
There is no "reverse" Gresham's Law. As long as fiat and sound money circulate simultaneously, people will spend their fiat currency first, as quickly as possible, and hold their wealth in real money. No one uses gold to pay their taxes when they can just send paper or digital dollars that will be worth less tomorrow.
Times are weird. The US dollar is losing purchasing power due to inflation while strengthening against other currencies and assets. The stock market, real estate, crypto and precious metals are down because people are fleeing to the "safety" of the dollar. where else can we put our investment money? I can't afford to see my savings of around $320k turn to dust in front of my eyes.
The most interesting, and in my opinion, segment of this vid starts at 5:25. Regardless of what 'type" of currency is in use, it has to have two things for it to practically function. It has to have agreement of use and a practical means of transference. At 5:25 starts just this process. Metals are the store of value, but fiat is the agreed utilitarian vehicle of transfer. I am tired of giving up my very life and time on this earth to the Feds. They are idiots as a whole. I want my life back, and life is facilitated by money plain and simple.
Money was used instead of gold now gold used to back money with debit card? So how do you audit the gold which they claim they have. Just another Ponzi…..
How much of the central bank gold purchase was due to US sanctions? Weaponizing the US dollar forces countries (BRICS) into alternative payment structures. For example China buying 1.8 million barrels of RUSSIAN oil / day not allowed to pay in US dollars is purchasing more gold than ever to pay for oil.
So essentially TX made itself a bank? We give it our precious metals and they give us a debit card… that they can shut off at any time…hmm lol
The dollar has broken out to the upside now. Gold and silver are getting hammered.
Amex , a company sells coins and 24k gold foil notes in 1,5,10,25 i think . Example right now a 1$ navada gold bill sells for 6$ . It is worth at minimum face value in the state . Utah, navada, new hampshire, all have this gold foil currency . And can be melted down if need be . It is i think 1/1000th of an ounce . They were 5 dollars 2 years ago . Now its 6 dollars . Hummm is you paper money growing in value ??? Id say no since it used to cost billions to run the government and now its trillions . Venasuela anybody ??? Just keep adding 000000. We will be ok . Not!!!
It might be the pessimist in me but it sounds like a way to get all of the gold from private citizens so that they can give it all to the Anunnaki. Making humans still the slaves that they were so long ago when they put us here to mine the Gold for them.
Texas and Florida just banned CBDCs.
So doller is going to be just a paper in texas
Shouldn't the people be entitled to know where and who sold the Gold?
Wish Virginia would do this.
A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
We need to do it
I want to Stock up on Texas Tea.
How would this effect people who are collecting social security checks? We are currently being paid by the fiat currency. To convert to precious metals would be a huge problem. As the fed used money would become useless so would people’s ability to purchase commodities and items for everyday living. The retirement age people are going to be crushed by going to a state by state currency. I haven’t even got a true grip on the digital currency thing yet and there some retirees who have no idea what digital currency is or how it will work. I not opposed to a real money system but it’s going have to be equitable to everyone. The wealthy people will not be hurt by this type of money transition but people who for all their working lives who had the federal government take money from them and called it social security and Medicare withholding with the promise of you being repaid in your retirement year will be wiped out by such a change. I remember when our government went off the gold standard and then no one seemed concerned but now it’s a huge problem for retirees. I know there are people out there trying their best to stop social security and Medicare system however there are a lot of seniors citizens who have paid into these systems all there working lives and I’m one of them. I just don’t see any advantage for retirees in the changing of money system irregardless of what system takes place. What I see is retirees being completely thrown under the bus and losing their income and health benefits that we paid into for years. What better way to beat retirees out of their income and healthcare by starting a new money system and saying you didn’t pay into this system so your out of money and healthcare. They could end the inflation problem this way manipulate interest rates any way they wanted too and simple do away with the governments debt. We meaning US citizens should have stood up when Nixon and also Regan finished off the gold standard. Roosevelt started ending the gold standard but I wasn’t alive then but it was a quick start to help end the ending of the depression however WW11 what ended the depression and killing many millions of people world wide. There is no way I see a one world digital currency working without a one world government!
Texas governments will take your gold.
They should be careful, they risk getting sanctioned.
What’s your take on Russian foreign minister’s comments about having accumulated billions of Indian rupees and not being able to use it?
Just saw you for the first time on the video before this one. After watching this one… I subbed. Thank you for informing us about us about this situation. I was not aware that other states were doing the same thing. There is still hope!
I love Texas.
I love what Govenor Abbott is doing here.
Already absolete