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Texas Gold Repatriation Bill Has One Message To Feds: "Come And Take It"
As the mainstream media begins to come to terms with just what Texas' decision to repatriate its gold from the Federal Government in its own Gold Depository, the details of Republican State Rep. Giovanni Capriglione's bill protecting gold from confiscation become clear...
In an interview with The Epoch Times, Caprigilione explains why he pushed the bill and its far-reaching implications...
Epoch Times: What did you do to make the bill pass?
Giovanni Capriglione: I grabbed the banner last session. I was a freshman and it was difficult. Part of the problem was that it has a lot of verbiage that had nothing to do with law. Things like the case of an economic meltdown.
This is a principle part of why the bill was created, but it made it a distraction trying to pass the bill. Because then you get into: Do you think the economy is going to collapse, blaming the president, blaming the banks. What I did in this version of it, I stripped all kinds of stuff out other than the bill itself.
Epoch Times: Why did you go for it?
Mr. Capriglione: I have a vision, I would like for Texas to compete with Manhattan or the exchanges in Chicago. Here in Texas we have oil, we have natural gas, we have our own electric grid. To me having a bunch of metal commodities in the mix is something else that helps Texas to be able to become a marketplace for a lot of different items. Part of the idea of the depository is just another Texas thing. I’m still a little stunned that it happened.
I wrapped all of it together and I love to do economic development. I just want Texas to really be able to grow economically.
Former Texas Gov. Rick Perry previously said, “We are telling the whole entire world that Texas has a billion dollars worth of gold.” Gov. Abbott too, wants to attract businesses to our state.
Epoch Times: What were some of the difficulties?
Mr. Capriglione: My initial goal was to create a state everything, to have that completely run by the state. The issue with that was that it became a budget item. They were not keen on developing a completely new piece of [transaction] software. If the state had done it from scratch it would have just been too large.
The state would have developed the infrastructure to do [gold] deposits. We wanted the state to build the depository. We wanted the state to provide the security. It’s just very expensive. One of the things in Texas, because we are so conservative, if you have a bill that costs money its chances go way down.
I worked to do this without a fiscal note or a budget expense. We were able to do that by privatizing a significant portion of the depository. So we don’t have to build one, someone can go and say: we want to run it. We don’t have to run our own electronic software, someone else smarter than the state within the business can and will—and probably already has—developed the software to run [this operation].
This time I got put on the investment and financial services committee where this bill went through. It made it a lot easier to get it through the system. I was pretty shocked it passed the house with 137 to 1.
Now our office is getting calls and people are offering their services. I got some very interesting high network individuals who are thinking about putting their gold in Texas now. The response has been really, really good.
Epoch Times: What do you say about the anti-seizure clause, do you think the federal government will interfere with the gold and silver stored in the depository?
Mr. Capriglione: I think that what we have done is completely constitutional, we’ve looked at precedents, I have looked at Article 1, Section 10 of the Constitution so I think we are in good standing.
If the federal government were to try and do something like that, the reality is: There is a motto in the office of almost every state legislator in Texas, and it’s a flag that we have [from the Texas Revolution], it’s below a cannon and what the motto says is, “Come and Take it.”
That would be my response. We are on good solid legal footing to be able to not only have this depository, but to be able to do the transactions that are stated in the bill.
It was written with the idea that the federal government is a construct of the states. As long as we are following the Constitution as this law does, we won’t have any issues. The federal government can sue all they want, and I hope they don’t, because I think they will lose.
We created this in the state to provide depositors the protection I just spoke of. That’s a critical part of why this was created. Can a private depository do this? A private depository cannot do what we were able to do because the Constitution is pretty clear in terms of the rights states have.
Epoch Times: What do you think about using gold and silver as money?
Mr. Capriglione: It’s something that’s allowed. Back in 2008 when you go and look at the crisis, it may have been rooted in subprime, but at its core what it is there is a lack of business confidence. People get scared and worried and that kind of cycle feeds on itself. [The idea is to] have something that is stable and that you can touch as opposed to being ephemeral like paper or bank money.
One of the issues in 2008 was that people would start withdrawing their deposits, which to some extent happened. And there just isn’t enough actual backing of that. What we have in this is something that people can rely on. The way we structured the bill is there are no forwards, future derivatives, lending contracts on the bullion that’s placed inside the depository. What you see is what you have. Nothing will be created, nor destroyed.
That stability helps confidence and it also provides a flight to sound money, this is going to be it.
Epoch Times: Is Texas going to have its own money?
Mr. Capriglione: Article 1 Section 10 [of the Constitution] states that this will be prohibited and we would never coin our own money. I think that’s unconstitutional.
I have bitcoins and I use it as an alternative as well. Every individual should have as many options as possible to be able to transact business. The more options individuals have the more liquidity there is, the more comfort there is, and the more stability. We don’t—and I have no intention to create our own currency, we don’t have to.
By creating this depository what we are able to do is people are able to make their transactions through our depository, completely in conformance with the Constitution.
Epoch Times: How would this work?
Mr. Capriglione: It’s done electronically, we won’t actually move a block [of gold in the depository] because we want to have the fractional equivalents to be able to move it over. But it’s essentially being moved over. Individuals, corporations, and government entities will do their transactions through the use of gold.
I’ve looked at [having our own currency] and we would be into a lot more trouble. This accomplishes what the point is. In this world, there is so much stuff that happens electronically and you are not really sure what’s in your account. With this you can take possession of what is in your account at any time, within five days it will be subject to delivery.
Epoch Times: What did the governor think of the bill?
The governor is great to work with, he only has had 12 bill signings, and the gold was one of them. He came in and I was waiting for him to do the press signing thing and he said, “We are about to make national news, aren’t we?” and I said: “Yes, we are.” I’m thankful that he did it.
Epoch Times: In fact, it was he who also set forth the motion to repatriate the gold of Texan institutions such as the $1 billion the University of Texas endowment fund owns and currently stores with HSBC in New York.
Mr. Capriglione: Technically we have all these different agencies, but the governor has a lot of sway in the matter.
* * *
Times are changing for sure.
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I'm hoping this means I get to eventually repatriate mine from a Delaware vault to the one here......in goOD OLE TEXAS!!!
YeeeeeeeHaaaaah!!!
Giovanni. Giovanni Capriglioni.
It's always good to have an Italian do the speaking when you're dealing with assholes.
https://youtu.be/HWqKPWO5T4o
The great anti-gold propaganda wave should start any minute now. Newspaper headline: "China and Russia attempt to undermine western financial system with gold" Or more likely they will wait until the free shit army goes without then blame gold holders/ "hoarders" and Russians. You didn't think this shit was going to be easy did ya?
This insolence will not be tolerated!
FED will print them new bills and pay in cash, not gold
Was the(physical) Au repatraited in IOU's? Who shipped one billion dollars of bullion to Texas?
Possession is 9/10's of ownership. Bitchez
No, nothing has happened yet. It's Texas, they just like to hoot and holler real loud.
The State of Texas:
Famous for the government murder of Kennedy, government murder of at least a dozen kids using shaped charges on a concrete bunker (look up the photos) and Army Delta/SF actively at Waco, including the purposeful murder of the kid's parents with full auto kill shots verified by the president of FLIR and their cameras on .mil helos (yea the thermal imaging company - it's on video and he gives a play by play interview), record breaking Civil Asset Forfeiture, naming freeways after war criminals (Bush and Johnson), the home of war criminals, yada yada yada.
There's a lot of hat, and not much cattle. Bluster and bullshit really. Civil liberties are in the toilet, women were barred from bringing in feminine products to protest at the capitol (they might have thrown them at reps - pre-crime anyone?), no open carry of pistols, permit required for CCW, Cops completely roided out and rabidly nuts, kids thrown in jail for life for making brownies with a plant (naughty). Then again, it's the state for Ron Paul. What a place of contradictions!
Texas, get your fucking shit together! You're just as fascist and freedom hating as D.C. Jerking off to your own pride and bluster is bullshit especially when you don't really have much to be proud of. Start genuinely fighting for freedom, civil liberties and individual rights then we'll all consider not laughing at you anymore.
I'm so sick of the smug-ass texans with nothing to back it up. Fucking wake up!!!! You've collectively shit yourself, badly. So clean yourself up before you publicly show your ass to the world. It's embarrassing.
Piss off jerkweed. You, just like the rest of 'em are jealous.
Seriously, that's all you got?!! "I'm jelly" Come on man. Refute my facts, tell me that rick perry turned himself into a terminator or some bullshit to protect the freedoms of Texans.
But "I'm jelly and piss-off jerkweed!!!?!!" HAHAHAHAHAHA
Seriously dude, I'm really hoping Texas gets it's shit together. But that state is so unbelievably fucked up right now. I'm really trying to challenge people like you to take some sort of constructive action to fix it. Texas could be a really cool place, except that it's really not right now. So fix it already!!!
So, is business booming in your neck of the woods?
( betcha its Baltimore)
Nah, I'm in the mountains, real ones. I don't care for the east coast, want nothing to do with it and too close to DC and NYC. Yea, business is great actually! My industry always does great when things turn to shit.
Well Im glad your business is doing fine and you get to live in the mountains, that does have to be awesome. I dont like the NE region, but I do like the Carolinas. My best friend from sheffield england lives in SC. and one of my best rides was on the Blue Ridge Parkway in NC.
The Carolinas are awesome. The outer banks have always been a place I wanted to take a vacation. Virginia (the part far from DC) also is beautiful. I spent some time in SC a long time ago but had a good time. The southeast is a real pretty region and has some quality people.
The mountains are good. I used to view the ocean as a safety zone, kind of an escape route. Though that doesn't really work in our world these days. The mountains are a much safer area given the times we're in. They are very pretty as well.
Pray tell sargent, you didn't spell out the virtues of your own state, which is what? I assume by your attitude it may be New York? Massachussettes? New Jersey?
You give nothing to compare to to support your tirade.
You kept that quiet for a reason. Or you've been drinking.
Ah, the great American redoubt is my state. I'm not saying any place is perfect, but I really do want Texas to strive for something better.
I simply want Texans to put aside their pride for a moment and think. That's all. Y'all can do much better. Pride is great, but it can get in the way of improvement. Texas needs some serious improvement.
"Ah, the great American redoubt is my state."
Step up and tell us all about your States gold repository. I'm all ears motherfucker.
Dude, I told you I lost my gold in an unfortunate mountain yodeling accident. It's kind of a painful memory for me. Thanks for bringing it up again.
I would never trust a government with my gold anyway. Virtually all government officials are thieves. Why would I give it over to the control of thieves. I'm not stupid.
Im looking inside my wallet right now looking at a few IOU's right now.
3 have pictures of George Washington and 2 have that tyrant, Abe Lincoln.
Texas may have a few fucked up cops that do heinous things like shut down lemonade stands and push a disobedient negro girl to the ground, but Im glad to be here and I cannot think of anyplace Id rather be. If I was forced to leave Texas, I would think of S Carolina.
I sure am glad we have Greg Abbott as our Governor too.
dont hold your breathe over their ever actually taking posession
I am begining to believe that there are still some wise ppl left in America
We Jade Helm'd some folks.
As a non-American, I've always like Texas's style.
We're big, we're pround and we're Texans.
*Facepalm*
Do you understand these guys are challenging the Fed to "come and take" a gold they don't have? First get zee gold, buddies (remember about carts and horses), and then you'll parade with your guns, swagger, flex muscles and march to "Yankee Doodle Dandy" all you'll like.
Meanwhile, you look like a bunch of fools suffering from arrested development and a bad case of Chuck Norris movies overdose.
It's all just vapor gold until it is stacked to the ceiling and available for public inspection.
The FED to Texas, "Come and Find It!". The joke is on them.
That's funny. "Come and take it"? They already have it. And you are more than likely going to get an IOU rather than physical delivery.
But, thanks for playing.
The state of Texas.
Soon to be the country Texas ?
Great plan but how do you intend to actually take possession of the gold? Hmm, could be an issue.
In Texas they have colts ?