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Texas Gold: Republicans see first proposal for the state’s own bullion depository

Texas Gold: Republicans see first proposal for the state’s own bullion depository

In 2015, Texas Governor Greg Abbott in 2015 signed into law an act establishing a state bullion depository at no cost to taxpayers. He intends to enter into a public-private partnership with a qualified company to provide a secure, physical depository and an agency of innovation.

A non-banking financial facility will provide Texans with secure resources for a wide range of gold-backed financial services privately sponsored and publicly supervised by the state of Texas.

Through our support of this bill and our ongoing participation with the state comptroller's office, we recently presented our vision at the Texas Republican convention. As you can see from the headlines below, our vision for the Texas Bullion Depository caught the eye of more than just Republican delegates and lawmakers.

Here is coverage from the Dallas Morning News:

Almost a year after Gov. Greg Abbott signed a bill into law to “repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas,” the state’s Republicans got a look at one proposal for what a Texas Bullion Depository could look like.

Texas Precious Metals, a Shiner-based wholesale precious metals company, presented its proposal for the depository in a booth at the Texas Republican Party convention this week.

It’s one of several companies that responded to state Comptroller Glenn Hegar’s request for information in September. The comptroller’s office used the request to get answers to questions that lingered after the ink had dried on the bill, including concerns about how the state could best secure and transport the bullion.

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For complete coverage, visit: http://texasdepository.com.


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