Texas Gold Bill Becomes Law

[EE_]

Texas Gold Bill Becomes Law, State to Remove $1B Worth of Bullion From New York
By Valentin Schmid, Epoch Times | June 7, 2015Last Updated: June 12, 2015 5:57 pm

A bill to build a deposit for gold and silver bullion in Texas could have far reaching consequences for gold and paper money.

Texas Governor Greg Abbott signed a bill into law on Friday, June 12, that will allow Texas to build a gold and silver bullion depository. In addition, Texas will repatriate $1 billion worth of bullion from the Federal Reserve in New York to the new facility once completed.

This is what the governor had to say:

“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. 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.”

On the surface the bill looks rather innocent, but its implications are far reaching. HB 483, “relating to the establishment and administration of a state bullion depository” to store gold and silver coins, was introduced by state Rep. Giovanni Capriglione.

Capriglione told the Star-Telegram:

“We are not talking Fort Knox. But when I first announced this, I got so many emails and phone calls from people literally all over the world who said they want to store their gold … in a Texas depository. People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold.”

But isn’t New York, where most of the world’s gold is stored, also big and powerful? Why does the state of Texas want to go through the trouble of building its own storage facility? There are precisely two important reasons. One involves distrust in the current storage system. The second threatens the paper money system as a whole.

Distrust
“In a lot of cases with gold you may not have clear title to the metal. You may have a counterparty relationship that makes you a creditor. If the counterparty has a problem unrelated to gold, they can default and then you become an unsecured creditor in bankruptcy,” said Keith Weiner, president of the Gold Standard Institute.

This means you get whatever is left after liquidation, often just a fraction of the initial value of your holdings.

“This exact scenario happened with futures broker MF Global. I knew people who had warehouse receipts to gold bars with a specific serial number. But that gold had an encumbered title and they became unsecured creditors in bankruptcy,” said Weiner.

In Texas, two big public pension funds from the University of Texas (UoT) and the Teacher Retirement System (TRS) own gold worth more than $1 billion.

Being uncomfortable with holding purely financial gold in the form of futures and Exchange-traded Funds, University of Texas actually took delivery of the gold bars in 2011 and warehoused it with HSBC Bank in New York.

"You are on the board, you are a fiduciary, so that’s an easy one, you go get it."
— Kyle Bass, board member and hedge fund manager

At the time pension fund board member and hedge fund manager Kyle Bass explained: “As a fiduciary, which I am in that position to the extent you own gold and you are going for a long time, and it’s not a trade. … We looked at the COMEX at the time and they had about $80 billion of open interest between futures and futures options. And in the warehouse they had $2.7 billion of deliverables. We are going to own it a long time. You are on the board, you are a fiduciary, so that’s an easy one, you go get it.”

Bass is implying that there is much more financial gold out there than physical, and that it is prudent to actually hold the physical.

Taking the gold to Texas would then also solve the counterparty risk. “In this case it’s going to be a depository, the gold is going to be there, they are not going to be able to lend it out and it won’t serve as collateral for other transactions of the bank.” said Victor Sperandeo of trading firm EAM Partners. “Because if the bank closes, you are screwed.”

“I think that somebody was looking at that, we better have this under our complete control,” said constitutional lawyer and gold expert Edwin Vieira, of the Texas bill. “They don’t want to have the gold in some bank somewhere and in two to five years it turns out not to be there.”

Gold Money System
So far most of the attention has focused on the part of the depository and the big institutions.

However, the bill also includes a provision to prevent seizure, which is important for private parties who want to avoid another 1933 style confiscation of their bullion by Federal authorities.

Section A2116.023 of the bill states: “A purported confiscation, requisition, seizure, or other attempt to control the ownership … is void ab initio and of no force or effect.” Effectively, the state of Texas will protect any gold stored in the depository from the federal government.

The Constitution of the United States obliges the States to not make anything tender in payment of debts apart from gold and silver coin.
And free from the threat of confiscation, private citizens can use gold and silver as money, completely bypassing the paper money system.

“People can legally do that with gold contracts. The difficulty is the implementation. Now Texas has set up a mechanism with the depository. We have accounts in that institution and can easily transfer back and forth certain amounts. So we can run our money system a gold or silver basis if we were so inclined,” said Vieira.


https://www.youtube.com/watch?v=l1zwKUk7ctE

This would not be possible if the gold is stored in a bank because of the risks of bank holidays and bankruptcies. It would also not be possible if the federal government could confiscate gold.

According to Vieira, this anti-seizure provision rests on Article 1, section 10 of the Constitution of the United States, which obliges the States to not make anything tender in payment of debts apart from gold and silver coin.

“If someone from the Department of Justice comes along you are going to see legal and political fireworks. The state is going to say ‘we need to have a mechanism to make gold and silver money. This is pursuant to the constitutional provision we have. You can’t touch this. Our state power on the constitutional level is more powerful than any statute you may pass,'” said Vieira.

Because one of the litigant parties is a state, the case would go directly to the Supreme Court.

“We are talking about something completely new in terms of the legal playing field. This is no longer a fringe concept,” he adds, but cautions about a possible fight with the federal government: “We will have to see how committed the governor and the attorney general are.”

http://www.theepochtimes.com/n3/1382264-texas-gold-bill-has-potential-to-uproot-monetary-system/

[Dogman]

http://trailblazersblog.dallasnews.com/2015/05/texas-set-to-create-a-gold-depository.html/

[Serpo]

Section A2116.023 of the bill states: “A purported confiscation, requisition, seizure, or other attempt to control the ownership … is void ab initio and of no force or effect.” Effectively, the state of Texas will protect any gold stored in the depository from the federal government............

[EE_]

This is pretty big news imo.
I wonder if will be talked about on CNBC next week?

[Serpo]

This is pretty big news imo.
I wonder if will be talked about on CNBC next week?

hahaha ....you funny guy.............



http://www.dnapreciousmetals.com/wp-content/uploads/2013/03/Texas_GoldRush_v4.jpg

[EE_]

hahaha ....you funny guy.............

Yeah, you know those sill gold bugs...there sure are a lot of them

I got so many emails and phone calls from people literally all over the world who said they want to store their gold … in a Texas depository

In Texas, two big public pension funds from the University of Texas (UoT) and the Teacher Retirement System (TRS) own gold worth more than $1 billion.

This is no longer a fringe concept,” he adds, but cautions about a possible fight with the federal government:

[EE_]

On Zero Hedge
Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"
by Tyler Durden on 06/13/2015 17:00 -0400


The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now - as we noted was possible previously - Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed's vaults to a newly established state gold bullion depository..."People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold," and the Bill includes a section to prevent forced seizure from the Federal Government.

From 2011:

"The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board."

The decision to turn the fund’s investment into gold bars was influenced by Kyle Bass, a Dallas hedge fund manager and member of the endowment’s board, Zimmerman said at its annual meeting on April 14. Bass made $500 million on the U.S. subprime-mortgage collapse.

“Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said yesterday in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”
And now, after we noted the possibility previously, as The Epoch Times reports, Texas Governor Greg Abbott signed a bill into law on Friday, June 12, that will allow Texas to build a gold and silver bullion depository. In addition, Texas will repatriate $1 billion worth of bullion from the Federal Reserve in New York to the new facility once completed.

On the surface the bill looks rather innocent, but its implications are far reaching. HB 483, “relating to the establishment and administration of a state bullion depository” to store gold and silver coins, was introduced by state Rep. Giovanni Capriglione.

Capriglione told the Star-Telegram:

“We are not talking Fort Knox. But when I first announced this, I got so many emails and phone calls from people literally all over the world who said they want to store their gold … in a Texas depository. People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold.”

But isn’t New York, where most of the world’s gold is stored, also big and powerful? Why does the state of Texas want to go through the trouble of building its own storage facility?
There are precisely two important reasons. One involves distrust in the current storage system. The second threatens the paper money system as a whole.

“In a lot of cases with gold you may not have clear title to the metal. You may have a counterparty relationship that makes you a creditor. If the counterparty has a problem unrelated to gold, they can default and then you become an unsecured creditor in bankruptcy,” said Keith Weiner, president of the Gold Standard Institute.

This means you get whatever is left after liquidation, often just a fraction of the initial value of your holdings.

“This exact scenario happened with futures broker MF Global. I knew people who had warehouse receipts to gold bars with a specific serial number. But that gold had an encumbered title and they became unsecured creditors in bankruptcy,” said Weiner.

In Texas, two big public pension funds from the University of Texas (UoT) and the Teacher Retirement System (TRS) own gold worth more than $1 billion.

Being uncomfortable with holding purely financial gold in the form of futures and Exchange-traded Funds, University of Texas actually took delivery of the gold bars in 2011 and warehoused it with HSBC Bank in New York.

At the time pension fund board member and hedge fund manager Kyle Bass explained: “As a fiduciary, which I am in that position to the extent you own gold and you are going for a long time, and it’s not a trade. … We looked at the COMEX at the time and they had about $80 billion of open interest between futures and futures options. And in the warehouse they had $2.7 billion of deliverables. We are going to own it a long time. You are on the board, you are a fiduciary, so that’s an easy one, you go get it.”

Bass is implying that there is much more financial gold out there than physical, and that it is prudent to actually hold the physical.

Taking the gold to Texas would then also solve the counterparty risk. “In this case it’s going to be a depository, the gold is going to be there, they are not going to be able to lend it out and it won’t serve as collateral for other transactions of the bank.” said Victor Sperandeo of trading firm EAM Partners. “Because if the bank closes, you are screwed.”

“I think that somebody was looking at that, we better have this under our complete control,” said constitutional lawyer and gold expert Edwin Vieira, of the Texas bill. “They don’t want to have the gold in some bank somewhere and in two to five years it turns out not to be there.”
So far most of the attention has focused on the part of the depository and the big institutions. However, the bill also includes a provision to prevent seizure, which is important for private parties who want to avoid another 1933 style confiscation of their bullion by Federal authorities.

Section A2116.023 of the bill states: “A purported confiscation, requisition, seizure, or other attempt to control the ownership … is void ab initio and of no force or effect.” Effectively, the state of Texas will protect any gold stored in the depository from the federal government.

And free from the threat of confiscation, private citizens can use gold and silver as money, completely bypassing the paper money system.

“People can legally do that with gold contracts. The difficulty is the implementation. Now Texas has set up a mechanism with the depository. We have accounts in that institution and can easily transfer back and forth certain amounts. So we can run our money system a gold or silver basis if we were so inclined,” said Vieira.

This would not be possible if the gold is stored in a bank because of the risks of bank holidays and bankruptcies. It would also not be possible if the federal government could confiscate gold.

According to Vieira, this anti-seizure provision rests on Article 1, section 10 of the Constitution of the United States, which obliges the States to not make anything tender in payment of debts apart from gold and silver coin.

“If someone from the Department of Justice comes along you are going to see legal and political fireworks. The state is going to say ‘we need to have a mechanism to make gold and silver money. This is pursuant to the constitutional provision we have. You can’t touch this. Our state power on the constitutional level is more powerful than any statute you may pass,'” said Vieira.

Because one of the litigant parties is a state, the case would go directly to the Supreme Court.

“We are talking about something completely new in terms of the legal playing field. This is no longer a fringe concept,” he adds, but cautions about a possible fight with the federal government: “We will have to see how committed the governor and the attorney general are.”




Official Statement from Governor Abbott:

Governor Greg Abbott today signed House Bill 483 (Capriglione, R-Southlake; Kolkhorst, R-Brenham) to establish a state gold bullion depository administered by the Office of the Comptroller. The law will repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas. The bullion depository will serve as the custodian, guardian and administrator of bullion that may be transferred to or otherwise acquired by the State of Texas. Governor Abbott issued the following statement:

“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. 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."
* * *

Is this the first step down a road to secession? Notably, they'll need that gold to establish their own country once they win the potentially imminent war with the US military which starts on Monday (Jade Helm).

* * *

This implicit subordination of The Fed's gold sends a more ominous signal of rising fears of confiscation and leaves us wondering just how long before every state (and or country) decides to follow Texas' lead?

http://www.zerohedge.com/news/2015-06-13/writings-wall-texas-pulls-1-billion-gold-ny-fed-makes-it-non-confiscatable

Replies:

Sat, 06/13/2015 - 17:04 | 6193965Ms No
Ms No's picture
Yeah Texas! That state is starting to become damn respectable. Clearly they must be punished.

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Sat, 06/13/2015 - 17:14 | 6193970Monetas
Monetas's picture
It's been damn respectable a long time .... even without you .... but, hey .... Thanks to you and all your liberal friends .... for the recognition ! LOL

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Sat, 06/13/2015 - 17:16 | 6193978James_Cole
James_Cole's picture
Is this the first step down a road to secession?

Please dear God yes. The sooner this happens the sooner the rest of the world can stop hearing about these looneys in the news and relegate them to DPRK status - only newsworthy when they’re up to something particularly comical.

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Sat, 06/13/2015 - 17:17 | 6193980Deathrips
Deathrips's picture
Dont forget Silver!



RIPS

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Sat, 06/13/2015 - 17:31 | 6194014winchester
winchester's picture
lost me @ "First Germany"



germany didnt get back any ounce of gold.... wake up, it's theater.

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Sat, 06/13/2015 - 17:44 | 6194044wee-weed up
wee-weed up's picture




Yep... Right now, they've only got a "bird in the bush." They need to have a "bird in the hand."

But the NY Fed just might decide to play the "Germany" trick on them and only dribble out a few bars at a time to them.

Until they have it all in hand, this is just bluster.

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Sat, 06/13/2015 - 17:47 | 6194050greenskeeper carl
greenskeeper carl's picture
Yes, Texas. So respectable. That last bastion of freedom in America..... Where, according to an article posted earlier, police will forcibly stop two kids from selling fucking lemonade. And that says nothing of them being a big civil asset seizure state. Texas is run by authoritarians just like the rest of the country.

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Sat, 06/13/2015 - 17:49 | 6194056Captain Debtcrash
Captain Debtcrash's picture
I don’t understand how so many financial advisors can say 0% is the correct allocation to precious metals. I’ve read over and over how you should not own any gold. Here’s a rebuttal to anyone who tries to say that 0% is the correct allocation to gold and silver.

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Sat, 06/13/2015 - 18:28 | 6194148Headbanger
Headbanger's picture
I hear Rhode Island is getting serious about secession too.



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Sat, 06/13/2015 - 17:51 | 6194060Ms No
Ms No's picture
Well you have to start somewhere, this is better than the day they killed our president for the Federal Reserve, and yes I am aware that Kennedy was a douche.

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Sat, 06/13/2015 - 17:52 | 6194066SirBarksAlot
SirBarksAlot's picture
Technically speaking, wasn't it first Venezuela?



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Sat, 06/13/2015 - 17:19 | 6193987Dame Ednas Possum
Dame Ednas Possum's picture
If you don't hold it, you don't own it.

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Sat, 06/13/2015 - 17:54 | 6194074SirBarksAlot
SirBarksAlot's picture
"The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board."

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Sat, 06/13/2015 - 18:35 | 6194144Dewey Cheatum Howe
Dewey Cheatum Howe's picture
Taking delivery and storing are not the same thing. If you don't store it yourself you don't own it either. That doesn't change where you store it. They don't own the Texas storage facility either.

You build your own vault at your university facility then to store your gold. You can also store more things than gold then.

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Sat, 06/13/2015 - 17:23 | 6194001Stoploss
Stoploss's picture
We will be sending additional senators in the not too distant future.

Unfortunately, the US Constitution does not address this issue, therefore, unfortunately, Texas will have to be removed from the union. by the union...

Secession is not required, and no reference to the term would involve the Great State of Texas.



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Sat, 06/13/2015 - 17:16 | 6193979Billy the Poet
Billy the Poet's picture
In Texas they confiscate the yellow fruit drink not the yellow metal.

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Sat, 06/13/2015 - 17:41 | 6194039Antifaschistische
Antifaschistische's picture
Lol..::in tx, you do not need a BILL to prevent confiscation. Im sure we could get 5 million volunteers with a 24 hr notice.

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Sat, 06/13/2015 - 17:48 | 6194055Billy the Poet
Billy the Poet's picture
Well then hurry over to that lemonade stand, pardner, and protect those little yella roses!

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Sat, 06/13/2015 - 17:19 | 6193986bdc63
bdc63's picture
well, at least now we understand the Jade Helm "hostile" designation for Texas.

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Sat, 06/13/2015 - 17:39 | 6193994Supernova Born
Supernova Born's picture
Indeed.

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Sat, 06/13/2015 - 17:37 | 6194029Fat Sam
Fat Sam's picture
If you could just extract yourselves from the evangelical thing, it would be great. For a people who abhor control, you sure seem to love being sheep to the good book.

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Sat, 06/13/2015 - 17:57 | 6194081bbq on whitehou...
bbq on whitehouse lawn's picture
Think of Texas as another country, they do.

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Sat, 06/13/2015 - 17:23 | 6194000Fred Garvin
Fred Garvin's picture
I know how the Dicks in DC will characterize this...

https://www.youtube.com/watch?v=EUTqW32gx9k

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Sat, 06/13/2015 - 17:05 | 61939661stepcloser
1stepcloser's picture
Hi Texas...Two words Jade Helm



-Da Fed

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Sat, 06/13/2015 - 17:13 | 6193972Supernova Born
Supernova Born's picture
Hi Fed,

Remember the Alamo.

-Texas

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Sat, 06/13/2015 - 17:17 | 6193983Billy the Poet
Billy the Poet's picture
The Alamo was a suicide mission (no pun intended). Must have been Muslims.

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Sat, 06/13/2015 - 17:40 | 6194036Fred Garvin
Fred Garvin's picture
"Hi Texas...Two words Jade Helm, Da Feds"

Hi Fed...Two words, Gold Held

Da Texans

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Sat, 06/13/2015 - 17:12 | 6193971BanksterSlayer
BanksterSlayer's picture
You can take Texas out of the Republic, but you can't take the Republic out of Texas. They've got oil, militia, football, gold and even vineyards. What else do you need?

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Sat, 06/13/2015 - 17:28 | 6194009two hoots
two hoots's picture
and ports, shoreline, agriculture, border with a trading county and not a land locked state which frees up air space/access etc. If any state is positioned correctly it's Texas.

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Sat, 06/13/2015 - 18:23 | 6194140Headbanger
Headbanger's picture
And the hottest women in the US.

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Sat, 06/13/2015 - 17:42 | 6194041patb
patb's picture
FEMA money every time it rains in Houston...

If they want their gold back, then stop picking our pockets for rain.

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Sat, 06/13/2015 - 17:52 | 6194067Vincent Vega
Vincent Vega's picture
Pussy would be a nice addition to the list...for me anyway.

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Sat, 06/13/2015 - 18:30 | 6194151FreeShitter
FreeShitter's picture
There's two kinds of women left in texas. Those that want a gram of meth and the other a side of beef.

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Sat, 06/13/2015 - 18:05 | 6194092Berspankme
Berspankme's picture
Also ports and beef cattle. Texas is one state that could probably make it on their own but they's have to clean out Austin first. Too many California fruitcakes migrating there

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Sat, 06/13/2015 - 17:13 | 6193974Meat Hammer
Meat Hammer's picture
Gold is racist. Must invade Texas. Oh wait...

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Sat, 06/13/2015 - 17:32 | 6193975trader1
trader1's picture
chumbawumba,

is this also part of Jade Helm ?

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Sat, 06/13/2015 - 17:43 | 6194042Billy the Poet
Billy the Poet's picture
Helmet covered in heavy gold florets with star top, visor front, Jade pearls.



https://www.pinterest.com/pin/145593000428908992/

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Sat, 06/13/2015 - 17:14 | 6193976tangent
tangent's picture
The most blatant disregard for the US constitution would be the requirement that US states pay their debts in gold and silver only. When is the last time any US state paid any debt in gold or silver? Perhaps this bill will be the first major piece of state legislation that moves US states back to one of their agreed duties.

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Sat, 06/13/2015 - 17:40 | 6194037SirBarksAlot
SirBarksAlot's picture
To which debts are you referring?

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Sat, 06/13/2015 - 17:54 | 6194072Antifaschistische
Antifaschistische's picture
Tx to start accepting RMB AND EUROs and Gold for Oil

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Sat, 06/13/2015 - 17:17 | 6193982Max Steel
Max Steel's picture
FRom lemonade to gold .

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Sat, 06/13/2015 - 17:17 | 6193984p00k1e
p00k1e's picture
I wonder what the gold will be priced in/at.

$1 billion in today’s dollars, 1845 dollars...



Rumor is an EMP for Texas is coming.

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Sat, 06/13/2015 - 18:37 | 6194158Dewey Cheatum Howe
Dewey Cheatum Howe's picture
And pray tell how would a false flag aerial EMP only stop at the borders of Texas when it went off?

The US will not EMP itself or anything geographically close enough to knock out their own grid except for one reason and Texas secession is not that reason.

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Sat, 06/13/2015 - 17:20 | 6193990Lea
Lea's picture
Good. We'll be able to see if there is actual physical gold left at all at the Fed. At last.

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Sat, 06/13/2015 - 17:21 | 6193993Doug
Doug's picture
The question that strikes me is, isn't this akin to a run on the bank?

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Sat, 06/13/2015 - 17:23 | 6193996CHC
CHC's picture
Hey Texas - so you passed a law that says in effect the U.S. government can't confiscate your gold? Bwahhaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

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Sat, 06/13/2015 - 17:23 | 6193997WTFUD
WTFUD's picture
You can have your gold but due to transit issues we will deliver 5 bars every 3 months. God Bless you all.

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Sat, 06/13/2015 - 17:27 | 6194005One And Only
One And Only's picture
Non confiscatable huh? Tell FDR and Hitler all about that non confiscatable gold.

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Sat, 06/13/2015 - 17:50 | 6194063A82EBA
A82EBA's picture
oh we got somethin for fdr & hitler, name's Abbott..Greg Abbott

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Sat, 06/13/2015 - 17:51 | 6194064Billy the Poet
Billy the Poet's picture
Can I borrow your Ouija board?

[Serpo]

OK tEXAS WE HAVE HAD ENOUGH........................

Rumor of EMP on Texas .........................MONDAY.............

https://www.intellihub.com/civilian-army-soldier-presented-info-to-my-friend-of-an-impending-emp-attack-on-texas/

[EE_]

HAARP?

Tropical System May Brew in Gulf of Mexico Early This Week
Brian Lada
By Brian Lada, Meteorologist
June 13, 2015; 5:45 PM ET

The tropics will begin to show signs of life in the Gulf of Mexico early this week, putting lives and property in danger across Texas, Louisiana, Oklahoma and Arkansas.
A disturbance moving from the Yucatan Peninsula over the Gulf of Mexico will have a window of opportunity to organize itself late in the weekend and into the first part of the new week, potentially becoming a tropical depression or tropical storm.

Fortunately, this disturbance is expected to remain relatively weak and should be a far cry from a powerful, destructive hurricane.
According to AccuWeather Meteorologist Rob Richards, "It's rather unlikely that an organized system arises from this, but it is possible."

If a tropical storm were to develop, it would take the name of Bill.
This does not mean that people across the region should let their guard down as it can still bring a wide range of impacts.
"Whether or not the low becomes a tropical system, there will be a lot of moisture on the way for the United States," said Richards.

Flooding is likely to be the most widespread danger with this system with the potential for significant flooding to occur where the heaviest rain falls.
Several inches of rain are likely to fall over a wide swath of the southern Plains and Gulf Coast through Tuesday, with the heaviest rain focusing on eastern Texas, western Louisiana and Arkansas.

This can create major flooding issues across the region, especially following all of the rain and flooding that occurred over the southern Plains during the month of May.

At this time, the likelihood that an organized tropical system will develop across the Atlantic behind this low in the Gulf remains low.
Strong wind shear, winds higher in the atmosphere that tear storms apart, and dry air coming off the Sahara Desert of Africa will continue to provide unfavorable strengthening conditions for tropical waves pushing from the Canary Islands to the Caribbean Sea.
The wind shear over the Gulf of Mexico remains lighter; in combination with the warm gulf waters, the more favorable conditions are allowing for this low to develop.
http://www.accuweather.com/en/weather-news/tropical-system-may-brew-in-gu/48631150

[Dogman]

We need more rain as well as as we can breath in a naked vacuum without a suit!

River east of me at flood levels not seen in over 70 years!

Any gold stored here for now if in a boat or not, would sink! ;)

[Ponce]

When they are unable to get their gold from de Feds I can only hole that they..........REMEBER THE ALAMO.........and go after the Fed.

V

[Serpo]

https://chemtrailsplanet.files.wordpress.com/2015/05/target-texas.jpg

[EE_]

Who will the Texas Bullion Depository be run by? Will he be Jewish?

[Serpo]

Who will the Texas Bullion Depository be run by? Will he be Jewish?

No because they usually have very sharp fingernails and are prone to scraping bits of gold off the bars and hiding it under their nails........................

[Cebu_4_2]

Last time Texas tried any shit they were a no fly zone...

[Dogman]

Most people that move or come to Texas are wetbacks because they have to cross the Rio Grand (South and west), Red ( North ) or Sabine (East ) rivers to get into the state !

Nice for the folks to come and visit and spend their money and then it is even better when they go home or were ever the hell they came from as long as it is not here !

Good wetback = Visits and spends money, then leaves !

Bad wetback = Any that stays !

;)

Native born is the only way !

[Horn]

China will get all those Tungsten bars in thru the same border the Mexicans cross...

[Neuro]

We need more rain as well as as we can breath in a naked vacuum without a suit!

River east of me at flood levels not seen in over 70 years!

Any gold stored here for now if in a boat or not, would sink! ;)
Don't trust floating gold!