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To: DoodleDawg

Texas has no gold at the New York Federal Reserve Bank. Any gold they have in
New York would be stored at one of the commercial banks.

*****************

Interesting.

From the following article at the Dallas Morning News....

snip
For example, the University of Texas Investment Management Co. has about $1 billion
in gold stored with the Federal Reserve in New York. That’s about the size of a
work desk, Capriglione said.
end snip

Link:
http://trailblazersblog.dallasnews.com/2015/05/texas-set-to-create-a-gold-depository.html/


47 posted on 06/13/2015 5:36:44 PM PDT by deport
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To: deport
For example, the University of Texas Investment Management Co. has about $1 billion in gold stored with the Federal Reserve in New York. That’s about the size of a work desk, Capriglione said.

The article is incorrect. The New York Fed stores gold for foreign governments, central banks, and a limited number of international organizations. It does not store gold for the U.S. government, corporations or individuals. Legally it cannot.

Another indication that gold is not stored at the New York Fed is this article which quotes Governor Abbott as saying that the depository will keep "...taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state." The New York Fed does not charge a fee for storing bullion. But corporate banks in New York City do.

51 posted on 06/13/2015 5:48:38 PM PDT by DoodleDawg
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