Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"

ZeroHedge.com ^ | 13 Jun 2015 | Tyler Durden

[CPT Clay]

Someday the Republic of Texas will live again as an independent nation.

That is an option.

[DoodleDawg]

Your story is wrong. Germany repatriates more gold: Bundesbank

[DoodleDawg]

Rumor at the time was that the Federal Reserve Bank of NY didn’t have enough to meet the demand, and would have to pull gold from other locations to meet the redemption.

That is a ridiculous statement if you stop and think about it. The gold is not co-mingled. Germany's gold is in Germany's vault, Algeria's gold is in Algeria's vault, and so on and so forth. Each depositor has its own vault, regardless of how much bullion they have in storage. Each country's bullion has its own unique proof mark on each bar. And in many cases the bars themselves are of a unique size, shape, and weight so it would be impossible for the Fed to do some sort of sleight-of-hand and pass off one country's gold bars as belonging to another country.

[Faith65]

Very interesting.......

[DoodleDawg]

Not sure from your other posts if you are trying to argue the technicality that it is the University of Texas Foundation, and not the State Treasury that owns the gold that may or may not exist.

I have no reason to doubt that the University of Texas Investment Management Corporation has gold holdings, and if they say they're worth a billion dollars then I don't have any reason to doubt that either. But however much gold they have, it is not stored in the gold vault of the New York Federal Reserve Bank since the Fed does not provide service to private corporations. Based on what an earlier poster uncovered, the gold appears to be stored at the New York branch of HSBC.

[Kickass Conservative]

Better get the Gold out of New York City.

According to ABC, New York City is under water.

[Jane Long]

No, the article is a little confusing. It IS the State of Texas. UT gold purchase/deposit is a separate item.

Here’s more...

Texas. Governor Abbott issued the following statement:

“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.”

[stevio]

Very interesting.

[yefragetuwrabrumuy]

Ordinarily this would be the case, but I suspect so much hanky-panky has been going on between the government and these corporations, who knows how the rules might have been rewritten? The level of trust here is approaching zero.

[Humidston]

I LOVE our Governor! He proves there may still be decent, principled public servants. Restores my faith. A little.

[Jane Long]

Same here ;-)

[Jim Robinson]

zot

[ManHunter]

As a matter of fact, yes. I have stickers - and in one case a license plate - on my vehicles that say “Molon Labe”. Makes for great conversation when someone sees ancient Greek and asks, “What does that say?”...

[Old Sarge]

OH GOOD, URSULA AND BRUNGARD DIDN'T SEE THIS ONE!
I GET FIRST PICK OF THE CARCASS... (urp)

[Darksheare]

Wrong.
Assuming public office through fraud is a crime.

[Old Sarge]

A-fricken-MEN.

That despicable order convinced me of the nature of the Beast.

[CatherineofAragon]

That post # 13 is nutbaggery of a sort I haven’t seen before.

[DJ MacWoW]

Words have meaning.......

" Each State, in ratifying the Constitution, is considered as a sovereign body, independent of all others, and only to be bound by its own voluntary act. In this relation, then, the new Constitution will, if established, be a FEDERAL, and not a NATIONAL constitution. " James Madison Federalist No. 39, January 1788

UNDERSTANDING FEDERAL AND NATIONAL GOVERNMENT AND THE BASIC POWERS OF EACH