All Episodes
Previous Next
April 10, 2023 - Health Ranger - Mike Adams
15:43
Texas to launch GOLD-BACKED digital currency
| Copy link to current segment

Time Text
All right, we have major good news on the financial front.
If you live in Texas or if you might want to move to Texas or even use this in Texas, so members of the Texas legislature, both in the House and the Texas Senate, have proposed a bill that would begin the process by September of this year of building a gold-backed digital currency backed by the state of Texas and, of course, backed by gold held in the Texas Depository.
And this digital currency backed by gold would be 100% redeemable for physical gold.
This is amazing.
This is, I mean, look, you know, I talked about this is coming, right?
For years, I've had sources in the state of Texas that told me that Texas is preparing to have its own currency.
Because, of course, the people in Texas, they know that the dollar is going to collapse at some point.
They know that the US Treasury will be bankrupt.
The whole system will come crashing down.
And when that happens, the states that are prepared with their own currencies, whether they be digital or paper currencies, those states...
Will flourish as the rest of the states collapse.
So this is something that I've talked about for quite some time.
I knew it was coming, and this is a reason to stack gold.
And I have a suspicion that silver will also be redeemable in this system.
Silver may be a part of it.
But gold for sure.
This is a reason to stack gold and, again, I think silver, because if you're wondering, you know, what's your off-ramp?
When do you convert that gold into something else, something that's more of a currency?
Well, here's your answer.
Here it is.
State of Texas going to have a gold-backed digital currency system.
And as part of the law, by the way, part of the bill, is that the state must have a transactional system that allows everyday people to use it for everyday purchases.
So you would be able to buy a loaf of bread with a fraction of an ounce of gold, for example, using the digital wallet that is a token for gold.
It's a representation of gold.
Now, I know what you're saying.
Some of you are already ahead of me on this.
And you're saying, well, wait a second.
Isn't this central bank digital currency?
Isn't this an Orwellian spy system that can spy on people's transactions?
Well, I haven't read the text of the bill, but knowing the reputation of the people who introduced it, I have no doubt that anonymity will be part of this bill to where the state of Texas doesn't – they don't want to know what you're purchasing because, again, this is an alternative to the central bank digital currency system, which is a surveillance grid.
But we have to jump on this.
You and I, those of us who are in Texas, I want you to call your state senators, the state congresspeople, and urge them to pass this bill.
It's not even in committee yet, so urge them to take it up in committee.
But also urge them to protect our privacy in the bill.
Make sure that's part of this, because A gold-backed, state-defended digital currency system could be a great idea for liberty and freedom as long as it's not used to spy on people.
But if it's a spy machine, then guess what?
The people who believe in gold won't use it because the people who believe in gold...
Obviously are opposed to government spying on their transactions and purchase history and so on.
They don't want the government to limit what they can do with money.
So if there are limitations placed on this, then it kind of defeats the whole purpose of having a gold-backed crypto or digital system.
So it's either got to be completely anonymous, backed by gold, or the whole thing fails.
No one will use it if it isn't.
And there are technologies, by the way, that can make this thing truly private, truly censorship resistant, surveillance resistant, and so on.
Those technologies are out there.
Yeah, I've been watching videos about something that users recommended called Epic Cache, which I guess was created by a guy named, well, this is a pseudonym, obviously, but it's Max Friedman.
And from what he describes, they've got what Bitcoin was originally supposed to be.
They've got truly private, you know, zero knowledge, end-to-end encrypted.
Nobody can find out who you are.
Nobody knows what you spent money on.
Nobody can limit your spending and so on.
I mean, this is just an example, but these technologies do exist.
So I think that the state of Texas...
You should go talk to Epic Cash, frankly, if this bill passes, and see if you can license the Epic Cash technology to be the Texas gold-backed digital currency system.
Now, let's suppose that happens.
I mean, first of all, that would be freaking amazing because it was set an example from many other states to do the same thing.
And you could see really an independent gold-backed currency system that holds value.
It holds value because it's tied to gold.
And so everybody would want to buy this currency because it doesn't lose value every day like the dollar does.
Right now, 2% per month almost is the purchasing power that's being lost in the dollar.
And that's going to get a lot worse.
And so, frankly, as inflation gets worse, projects like this in Texas are going to get a lot more momentum.
And I want to congratulate the Texas lawmakers who have proposed this.
I don't recall their names right now, but this was covered by Kitco, K-I-T-C-O.com, which covers news about metals.
If you go to Kitco.com, you can search for the news on this Texas gold-backed digital currency.
You'll be able to find the story.
You can see the names of the representatives or just...
Just call your representatives and tell them to support this.
This is a great idea.
Now, here's the other thing.
If you're stacking gold and silver, this is your payday.
You're going to have a mechanism, if this becomes a real thing, if they build it, you're going to have a mechanism to trade in your gold and Like show up with your physical gold, whatever you have, a few coins or a few suitcases.
I don't know.
Some people have a lot of money and they have a lot of gold.
You show up with your suitcases of gold.
Those would be heavy suitcases, by the way.
Gold is dense.
You show up with your suitcases at the Texas depository.
You say, here's my gold.
Give me the gold-backed currency.
And they weigh your gold, I guess.
They get how many ounces.
Boom.
They credit your digital wallet with all that value of gold.
That's going to be a fortune because in the environment that this is happening, the dollar keeps losing value.
Gold will keep going up relative to the dollar because the dollar is losing value.
You might get, obviously, depending on a lot of factors, but you could get $3,000 an ounce, $5,000 an ounce, $10,000.
I mean, we don't know where the price of gold is going.
But you can bet that Texas will be, in a sense, desperate for gold, like physical gold deposits, so they might even offer you a premium.
They might even subsidize this.
If the spot price of gold is, let's say, $5,000, they might say, well, we'll give you $6,000 or $5,500 just because we want to have enough gold in the system that we can really back the digital economy in Texas.
So more people will trust the system and use the system.
We'll have an incredible economic golden age in the state of Texas.
And in the process of you translating your money into that gold, you might see a fortune there.
Now, let's say you convert your gold into digital currency that's backed by the state of Texas, and then you decide, ah, you don't like it.
You want to go back the other way.
Well, that's in the law.
It says that anyone can redeem any amount for physical gold at any time.
Now, of course, as long as they stick to that, as long as there's no shenanigans behind the scenes, as there is at the federal level, by the way, Then you'll be able to get your gold back at any time.
But in the meantime, you can use the digital tokenization of that gold as currency, as a representation of money to buy and sell and trade and clear transactions and so on.
And to do it electronically, which is much easier than, of course, handing people a piece of gold in person.
I'm weighing it out, it's shaving off like one one-hundredth of an ounce or whatever is, which depends on what you're buying.
I guess that would be, you know, $20 worth of gold or something.
But this idea is so good that I think the market for this, I think that you would see a lot of interest from other states and even people in other countries.
I do.
I think you would see a tremendous amount of interest in this structure and a lot of people would want to buy into it.
But the thing is when someone buys this Texas gold digital currency, as is described in the law, the state of Texas must then go out and buy that amount of gold with that money and then put that gold in the vault to back the new digital currency.
For example, suppose somebody from Canada wants to buy some of this digital gold currency.
So they take Canadian dollars.
They buy the digital currency from the state of Texas.
The state of Texas takes their Canadian dollars and goes out and buys physical gold that's equivalent to the amount of digital currency they issued.
And then they stick that physical gold in the vault so that the digital currency is 100 percent backed by the gold.
And then whoever is in Canada can just sit on this Texas gold-backed currency as a savings account.
Because this currency will not lose value because it's tied one-to-one to gold.
In fact, you could call this a gold stablecoin in the digital space.
A gold stablecoin.
And I've said before that, you know, I'm not a fan of all the speculation and bubbles in cryptocurrencies.
Crypto has some nice advantages and there's some really cool technologies.
Don't get me wrong.
And I think it will play a very important role in money and currency and transactions and liberty for the foreseeable future.
However, if a cryptocurrency is backed by nothing, there's always downside risk.
There's always risk that it can go to zero.
What about a cryptocurrency or a digital currency backed by physical gold 100% where you could show up and redeem it in person?
And it's backed up by the state of Texas, not just, you know, a group of people who are software developers who, you know, perhaps could be threatened or blackmailed or hijacked or who knows what.
What if this is backed by the state of Texas?
That gives it some real weight.
And, you know, it eliminates a lot of the risk of holding cryptocurrency or digital money.
I got to say, if this system were to come into existence, I would be a huge user of this.
I would have the Health Ranger store integrate with it so we could accept the Texas gold digital money for purchases.
I would probably even offer a substantial discount on purchases in our store if you use the Texas gold currency.
Seriously.
20% off.
Use the Texas gold-backed currency.
Things like that.
Because I think this is a tremendous idea.
It has amazing potential.
And I hope the state of Texas does this.
So if you're in Texas and you also think this is a great idea, again, contact your state representatives, both in the House and the Senate at the state level, and encourage them to support this bill.
And frankly, encourage them, if they want to, they can talk to me To be interviewed to promote the bill and promote the idea, and I can connect them with high-level people who know about the tech, who can make the very best digital money system that is robust, resilient, secure, that has anonymity and also is near trustless, not 100% trustless, but near trustless.
So, this could be revolutionary for the state of Texas and, frankly, for the whole world.
And I think Texas isn't the only state that's going to do this.
I would imagine Florida is looking into it and probably Missouri and probably Arizona and Louisiana and some other states.
The states that do this are going to have strong economic futures.
The states that don't do this and that end up riding down the collapsing dollar, they're going to end up in economic ruin.
And that will be California, Oregon, Washington, Illinois, you know, the usual suspects, New Jersey, Connecticut, New York, of course.
The liberal states will collapse when the dollar collapses.
The conservative states that have their own currencies ready to roll out, like Texas, will experience a golden age of economic prosperity.
All you have to do is be ready in advance.
And for those of you who are stacking gold, this is your off-ramp.
You'll be able to convert it into currency at very favorable rates.
You will become You know, wealthy overnight through this kind of a system because gold holds value.
Well, I guess that depends on how much gold you have, technically.
But you will preserve whatever wealth you have, whatever level you're at.
You won't lose it.
Everybody else is going to lose it.
They're going to lose their bank accounts.
They're going to lose it.
They're going to lose their bonds.
They're going to lose their pension funds.
When the dollar collapses, most people will lose 95, maybe 99% of their money.
Boom.
Done.
You won't lose it if you have gold.
Oh, and by the way, in the meantime, if you want to get gold, our sponsor in that space is the Treasure Island Coins and Precious Metals Company.
You can reach them at metalswithmike.com.
Check their prices online.
They give you live pricing, very competitive.
They have discreet insured delivery.
They can talk to you about a silver IRA that's IRS compliant.
They have a lot of inventory.
They move a tremendous amount of gold and silver.
In fact, their sister company is one of the suppliers to a lot of other retailers that you hear about online.
So this is the group that actually supplies them with the gold and silver.
So check it out, metalswithmike.com, and get yourself ready.
It's going to be an interesting time, but those who hold gold and silver will, I'll say, lose the least at minimum.
And could actually gain the most as well.
Thank you for listening.
Mike Adams here, brighteon.com.
A global reset is coming.
And that's why I've recorded a new nine hour audio book.
It's called the global reset survival guide.
You can download it for free by subscribing to the natural news.com email newsletter, which is also free.
I'll describe how the monetary system fails.
I also cover emergency medicine and first aid and what to buy to help you avoid infections.
So download this guide.
It's free.
▲
Export Selection