The Texas Bullion Depository officially opened for business this week. The creation of the facility represents a power-shift away from the federal government, and sets the foundation to undermine the Federal Reserve’s monopoly on money.
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The Texas Bullion Depository will create a mechanism to challenge the federal government’s monopoly on money and provides a blueprint for other states to follow. If the majority of states controlled their own supply of gold, and people began using precious metals in daily transactions, it could conceivably make the Federal Reserve completely irrelevant.
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That’s going to take some time, but it becomes an interesting way create a “store of value”.
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