Reports from the Monetary Front Lines

Reports from the Monetary Front Lines
Post Date June 10, 2015
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Category Solidus.Center

Don’t Mess with Texas Gold

The Texas legislature recently passed a bill allowing for the creation of a state-run gold depository. If approved by Governor Gregg Abbot, the facility would enable the state to “repatriate” its $1 billion in bullion, which is currently in the custody of Hong Kong and Shanghai Bank in New York. Interestingly, the bill designates the depository as the final destination for “bullion acquired by and transferred to the state and state agencies“, implying that Texas would consider its gold holdings to …

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A G.O.P. Takeover of the Senate Would Mean More Scrutiny of the Fed?

A G.O.P. Takeover of the Senate Would Mean More Scrutiny of the Fed?
Post Date November 4, 2014
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Category Solidus.Center

Nasdaq.com published an article by Victoria McGrane of Dow Business News that argued that a G.O.P. takeover of the Senate today would pressure the federal government to “put the Fed under the microscope”. As evidence, Ms. McGrane quoted Camden Fine, president of the Independent Community Bankers of America:

If the Republicans take control of the Senate and thus have control of both the House and the Senate–two words for the Federal Reserve: Watch out.

McGrane also noted that, under a Republican-led Senate, Federal Reserve-foe Richard Shelby of …

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