by Joseph P. Farrell, Giza Death Star:
By now we should all be alive to the game being played with the state bullion depository-and-specie-backed “sound money” scams. But if you’re not, consider the following article shared by W.G., which outlines the scam in a way that leaves me, for one, fairly gobsmacked for the audacity of the word salad (the “pretzel-talk” as Catherine Austin Fitts likes to call it) that it serves up. Indeed, this pretzel talk is a word salad of glittering nonsense worthy of Kamala Harris:
TRUTH LIVES on at https://sgtreport.tv/
Now, note carefully the selling points being advanced to “market” this idea of “bullion backed real ‘sound’ money”:
Under House Bill 1049 (HB1056) sponsored by Rep. Mark Dorazio and more than 80 additional joint and coauthors, the Texas Comptroller would issue gold and silver specie (coins) through the Texas Bullion Depository and also establish gold and silver transactional currency defined as “the representation of gold and silver specie and bullion held in the pooled depository account.”
On April 16, the House State Affairs Committee passed HB1056 by a 10-5 vote.
The Depository would be required to hold enough gold and silver to back 100 percent of the issued currency.
Sounds good, so far, right? Then we get this by way of further salesmanship:
The passage of this bill would create a sound money alternative to U.S. dollars in both physical and electronic form.
Hmmm…. if you’re like me, you might be having suspicions about that “sound money alternative to U.S. dollars in… electronic form.” I’m all for gold and silver coins and physical bearer certificates circulating in lieu of them, that protect anonymity and privacy of transactions. it’s that electronic part that gives me pause. And it should you too, for we also get this pretzel-talk, this Kamala-Harris-worthy word salad, as an “explanation”:
Using gold and silver-backed transactional currency, any person or entity would be able to do business using a debit card that seamlessly converts gold and silver to fiat currency in the background.
Firstly, a gold and/or silver-backed transactional currency is not under any traditional understanding of the term a “fiat” currency, much less one “in the background” (whatever that means). A fiat currency is typically a legal tender mandated by law, and not typically backed by anything other than that law. What we are being told – history buffs take note, because you’re going to encounter this game again, in my forthcoming book The Rialto In Richmond, Reconstructed – that somehow a “fiat” currency exists that is convertible into specie. But, notice the sleight of hand here: having issued gold and silver coins, what is being used in transaction are not the gold and silver coins, nor even a paper bearer-certificate that one could take to a bank and exchange for the actual gold and silver coins(like the silver and gold certificates of decades ago), but a debit card. And a debit card is not private, nor anonymous. And notice the middle man in all of this is now the state bullion depository, upon which we must rely and trust for accurate representations of the amount of gold and silver it actually has on deposit, and accurate representation of the amounts to be credited to any particular account. “Be good boys and girls, otherwise, a ‘clerical error’ might strip you of gold and silver assets for a considerable period of time, while accounting, or the state courts, or both, adjudicate it.”
