Private Companies and the Precious Metal Depository

An American-Statesman article from May 2016 titled "Could Texans soon be playing the gold card?" suggested that an alternative financial system could be created if Texas companies gain approval for the establishment of a precious metal depository in Texas.

The article stated private companies would run the depository, saying, "Texas Precious Metals, based in the Central Texas town of Shiner, has a clear idea for the depository: a sprawling building in their beer-brewing town — or maybe elsewhere, possibly Austin."

State Rep. Giovanni Capriglione, R-Southlake, was quoted saying, "It's not just about bringing gold back home. It's about an alternative form of making payments."

This alternative financial system could allow transactions between banks, corporations, hedge funds and many other financial institutions, becoming the first gold-based transaction system in the country.

Bullion Backed Transaction System
Entrusting Texas with Texas Gold

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