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Author Topic: Texas gives The Fed a big, fat one-finger salute.  (Read 3155 times)

Brad Johnson

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Texas gives The Fed a big, fat one-finger salute.
« on: June 21, 2015, 01:35:54 AM »
Gov Abbott signs Texas Bullion Depository bill into law. This one surprised me. I wasn't aware anything like it was even in debate.

http://gov.texas.gov/news/signature/21038

It's a giant "Up Yours" to the fed, the diplomatic version of point-and-laugh. The only way it could be any more insultingly defamatory is if the bill had been called the "Feds Are Incompetent Morons Act"

Brad
« Last Edit: June 21, 2015, 11:28:04 AM by Brad Johnson »
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It's all about the pancakes, people.
"And he thought cops wouldn't chase... a STOLEN DONUT TRUCK???? That would be like Willie Nelson ignoring a pickup full of weed."
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vaskidmark

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #1 on: June 21, 2015, 07:48:37 AM »
Wonder if they would take in some for me - some as a donation for brass-ballery and some to hold outside my RSC.

Go, Texas!

stay safe.
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If cowardly and dishonorable men sometimes shoot unarmed men with army pistols or guns, the evil must be prevented by the penitentiary and gallows, and not by a general deprivation of a constitutional privilege.

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230RN

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #2 on: June 21, 2015, 08:15:23 AM »
"Feds Are Incompetent Morons Act."

 :rofl:

I thought that was part of Common Law.

Terry



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WHATEVER YOUR DEFINITION OF "INFRINGE " IS, YOU SHOULDN'T BE DOING IT.

tokugawa

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #3 on: June 21, 2015, 10:29:33 AM »
Quote from: 230RN on June 21, 2015, 08:15:23 AM
"Feds Are Incompetent Morons Act."

 :rofl:

I thought that was part of Common Law.

Terry





 ^^^^ this wins!
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Jamisjockey

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #4 on: June 21, 2015, 10:40:09 AM »
One of the biggest concerns in a secession scenario is a gold reserve for backing a currency.....interesting.

According to polling data as much as a quarter of Texans support seceding.  That's not a fringe movement.  More would probably consider it if they knew how it worked and could be assured that it wouldn't involve a shooting match.
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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #5 on: June 21, 2015, 11:04:36 AM »
I hope they succeed :)
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HankB

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #6 on: June 21, 2015, 11:11:40 AM »
Maybe he's inspired by what's going on in Greece, where their new leader is making extra-legal demands that local governments send their cash reserves in to the Greek Federal government (or whatever they call it over there) which is flirting with default on their EU/IMF loans . . .
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Trump won in 2016. Democrats haven't been so offended since Republicans came along and freed their slaves.
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230RN

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #7 on: June 21, 2015, 01:25:40 PM »
HankB noted (I would like to see a citation),

Quote
Maybe he's [Governor Abbott] inspired by what's going on in Greece, where their new leader is making extra-legal demands that local governments send their cash reserves in to the Greek Federal government...

Many folks don't know about this:

https://en.wikipedia.org/wiki/Executive_Order_6102

Now that applied to any individual, partnership, association or corporation, and to "monetary gold," but 5 will get you 8 that the University is some kind of a state corporation.

Didn't bother to read the whole wiki article*, but looking at that as a "precedent," the change of a few words...

Terry

* All I wanted to do was grab the URL.

« Last Edit: June 21, 2015, 01:39:47 PM by 230RN »
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WHATEVER YOUR DEFINITION OF "INFRINGE " IS, YOU SHOULDN'T BE DOING IT.

HankB

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #8 on: June 21, 2015, 06:45:28 PM »
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Trump won in 2016. Democrats haven't been so offended since Republicans came along and freed their slaves.
Sometimes I wonder if the world is being run by smart people who are putting us on, or by imbeciles who really mean it. - Mark Twain
Government is a broker in pillage, and every election is a sort of advance auction in stolen goods. - H.L. Mencken
Patriotism is supporting your country all the time, and your government when it deserves it. - Mark Twain

K Frame

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #9 on: June 22, 2015, 07:56:29 AM »
Executive Order 6102 was modified and then revoked by subsequent executive orders issued by Franklin Roosevelt.

However, ALL of those were revoked by Nixon in 1974 in EO 11825. https://en.wikisource.org/wiki/Executive_Order_11825

It's also very likely that 6102-type orders issued by Roosevelt wouldn't pertain to gold held by governmental entities as it spoke only of people and persons.
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230RN

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #10 on: June 22, 2015, 08:05:44 AM »
Quote
It's also very likely that 6102-type orders issued by Roosevelt wouldn't pertain to gold held by governmental entities as it spoke only of people and persons.

Sure, then... but now?

Quote
(Me) Didn't bother to read the whole wiki article*, but looking at that as a "precedent," the change of a few words...


(And thanks for the PMed citation, HankB ! )
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WHATEVER YOUR DEFINITION OF "INFRINGE " IS, YOU SHOULDN'T BE DOING IT.

K Frame

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #11 on: June 22, 2015, 08:15:35 AM »
"Sure, then... but now?"

But now.... what?

Did you miss the part about Nixon REPEALING the strictures laid out by Roosevelt's executive orders?

So unless new laws or XOs were enacted specifically pertaining to the individual states, there's nothing of which I know that makes it illegal for a state to stockpile its own gold purchased with its own funds.

If Texas wanted to issue its own currency backed by gold? That might be a different matter entirely.
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230RN

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #12 on: June 22, 2015, 08:57:12 AM »
Quote
So unless new laws or XOs were enacted specifically pertaining to the individual states, there's nothing of which I know that makes it illegal for a state to stockpile its own gold purchased with its own funds.

I repeat:  "But now?"

Or tomorrow?

The precedent of gold seizure has been set in whatever terms and conditions it was couched.  I'm not not arguing yes or no.   I'm arguing possibilities, given the tone and tenor of the times and the squirminess of salaried government lawyers.

Both then.  And now.  And maybe tomorrow.

I'm done with this one.  I've been through too many "It can't happen here" situations.

And it did anyhow.

Terry, 230RN

(Edited to strike out absolutes.)
« Last Edit: June 22, 2015, 09:10:30 AM by 230RN »
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WHATEVER YOUR DEFINITION OF "INFRINGE " IS, YOU SHOULDN'T BE DOING IT.

K Frame

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #13 on: June 22, 2015, 10:20:19 AM »
I repeat:  "But now?"

Or tomorrow?"

ZMOG!!! You mean gubmint might actually do something in the future that might have an effect on something someone else does today?

Did anyone let the Washington Post or New York Times know?

Excellent reason to not do anything, ever!  :facepalm:
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Balog

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #14 on: June 22, 2015, 08:04:34 PM »
Quote from: jamisjockey on June 21, 2015, 10:40:09 AM
One of the biggest concerns in a secession scenario is a gold reserve for backing a currency.....interesting.

According to polling data as much as a quarter of Texans support seceding.  That's not a fringe movement.  More would probably consider it if they knew how it worked and could be assured that it wouldn't involve a shooting match.

History doesn't paint a positive outlook for that possibility.
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Hawkmoon

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #15 on: June 22, 2015, 08:31:01 PM »
Quote from: HankB on June 21, 2015, 11:11:40 AM
Maybe he's inspired by what's going on in Greece, where their new leader is making extra-legal demands that local governments send their cash reserves in to the Greek Federal government (or whatever they call it over there) which is flirting with default on their EU/IMF loans . . .

My friends in Greece all agree that their government (especially the Prime Minister and Finance Minister) is (are) nuts. They keep making demands and drawing lines in the sand, but you can't do that if you're not negotiating from a position of strength. And Greece is assuredly not bargaining with the EU from a position of strength.
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Hawkmoon

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #16 on: June 22, 2015, 08:31:46 PM »
Quote from: Tallpine on June 21, 2015, 11:04:36 AM
I hope they succeed :)

I see what you did there.
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Scout26

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #17 on: June 23, 2015, 12:00:20 AM »
Quote from: Hawkmoon on June 22, 2015, 08:31:01 PM
My friends in Greece all agree that their government (especially the Prime Minister and Finance Minister) is (are) nuts. They keep making demands and drawing lines in the sand, but you can't do that if you're not negotiating from a position of strength. And Greece is assuredly not bargaining with the EU from a position of strength.
To a certain extent, they are.

It goes back to an old saying of my father's, "Borrow a dollar and the bank owns you.  Borrow a million dollars and you own the bank."

The current Greek .gov knows that the EU can't afford to have them default.  Greece would the first domino in that house of cards.  Spain, Italy, Portugal, Ireland would all go next and the Euro would implode as all liquidity drained away, pulling down almost every major bank in Europe.

How far and how fast it would spread would be unknown, but the possible that the birthplace of western ideals, could also hasten it's demise.
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K Frame

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #18 on: June 23, 2015, 07:48:28 AM »
The EU can far more afford to loose Greece than the other way around. Don't for a moment think that Greece pulling out of the EU would cause a house of cards collapse. It wouldn't. It would be hugely damaging, and extremely humiliating, but it wouldn't be fatal. In the long term, it might actually be a positive thing.

If anyone thinks that any deal is actually going to make headway towards solving this issue, they're nuts. Greece, probably more so than any other nation, is the poster child for "Just keep giving the people *expletive deleted*it to make them happy and get them to vote for us. Someone will pay for it some day."

At the height of the madness, it was possible for a Greek citizen to retire with a full state pension and health insurance around age 50. Greece's population is aging, so anyone with a 1/10th of a brain and a calculator could see that it was a disaster in the making.

The EU is partially to blame because they created this mess for themselves by bringing Greece into the fold and completely ignoring the fact that the nation's debt to GDP factor wasn't even remotely close to what was "required" for admission to the EU. Brussels got some vague concessions that that would be rectified, and of course the Greeks did pretty much nothing. Except give away MORE *expletive deleted*it.

Eurostat later came out and said that the information supplied by Greece had been under reported due to a change in governmental accounting and reporting methods...


Right...


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K Frame

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #19 on: June 23, 2015, 08:57:24 AM »
Wow.

The Greek leftist party in parliment is going bonkers this morning because of concessions made by the prime minster in talks with Greece's creditors. They're saber rattling about how they may not approve such a deal...

One of the concessions? Gradually raise the retirement age to.... 67.

Oh my God that's horrible! No Greek citizen should have to work beyond the age of 21, and should receive a full pension and benefits on that birthday!

Did the burger flippers who are demanding $15 a freaking hour all pick up and move to Greece or something?
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RoadKingLarry

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #20 on: June 23, 2015, 09:37:36 AM »
Quote
Did the burger flippers who are demanding $15 a freaking hour all pick up and move to Greece or something?

we should be so lucky...
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230RN

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Re: Texas gives The Fed a big, fat one-finger salute.
« Reply #21 on: June 25, 2015, 09:30:25 AM »
Quote
Greece, probably more so than any other nation, is the poster child for "Just keep giving the people *expletive deleted*it to make them happy and get them to vote for us. Someone will pay for it some day."

I thought that was the U.S., but then I remembered the "bread and circuses" of the Roman Empire.

Seems like it's a fundamental political technique.
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WHATEVER YOUR DEFINITION OF "INFRINGE " IS, YOU SHOULDN'T BE DOING IT.
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