Jim Rickards interview on Bloomberg regarding bi-partisan support for bill in Texas to take its gold back from the NY Fed.

Some key points:

  • Prudent move in light of all the confiscation going on, most notably Cyprus.
  • When all else fails, you deflate against gold (gold never changes in value, it’s just currencies go up and down)
  • The US Government has a history of gold seizures, Texas doesn’t.
  • 13 states have pending legislation to make gold legal tender in the US.
  • With physical gold on deposit you can tell the Federal state get lost.
  • There is a global re-monetization of gold ongoing.
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