Texas politicians expressed intention to have own gold bullion depository.
Texas Governor Rick Perry and Giovanni Capriglione, a Republican member of the Texas House of Representatives, have developed a bill providing for hoarding gold worth $1 billion within the state. The gold bars owned by University of Texas Investment Management Co. are presently housed by the U.S. Federal Reserve.
“If we own it, I will suggest to you that that’s not someone else’s determination whether we can take possession of it back or not,” Mr Perry told radio host Glenn Beck.
“We don't want just the certificates. We want our gold,” Mr Capriglione said in his turn.
Jim Rickards, the Senior Managing Director at Tangent Capital Partners LLC, thinks that a “Fort Knox of Texas” might be a step towards a local currency, which may entail secession. However, Rick Perry ruled out declaring independence last year, despite over a hundred of thousands of people signed the petitions on the White House's website.
