Posted on 07/05/2015 8:11:28 PM PDT by xzins
Texas has a stockpile of gold. That gold is kept in New York City in an underground vault managed by HSBC. Texas has decided it wants all its gold back in Texas.
Earlier this year, Governor Greg Abbott signed a law that had sailed through the Texas Legislature. It sets up a depository facility in Texas that will house all of Texas’s gold inside Texas.
According to the Associated Press, Texas’s gold measures “about 20 square feet”. I’m thinking that should be cubic feet, but no matter. That’s not the best part.
In examining how Texas might get its actual, physical gold home from New York City, we find this gem, which is the funniest line in any news article this week:
It’s unclear whether repatriating it could be done with an electronic transfer or would require a fleet of planes or armored cars.
Yes, Scotty is going to beam it to Texas.
Normally, yes. But I knew a guy who used to haul steel through the mountains in the Carolinas. He was once given a job to move gold. About a ton of it. He got paid well to do so. And he had armed escort the entire way including air cover.
No, this did not make the press until well after the fact.
Texas has appx $1B in gold, Permanent College and School Retirement investments. At $108 a bar, you can eat up your principle.
China’s navy has been hauling gold for over a year.
Definitely some funny business going on with gold. I believe the Netherlands in addition to Germany is repatriating it from here. And what happened to all of Ukraine’s gold? Poof and it’s gone, no comment from the Fed whether we took it.
That’s the only way I move my gold, and in the summer, my neck is very red.
I think some of the funny business with gold is all of the stocks and mutual funds. I’m betting they don’t have control of real gold OR are even backed by real gold. I wouldn’t be surprised to hear there’s only a penny on a dollar of real gold backing these things.
New governor was sworn in this year. And Schmuck Schumer boasted of taking Texas’ retired NASA space shuttle.
With the rubber tarp over it, it might have looked a lot like steel on the flatbed.
> And the Fed said:
"If you like your gold, you can KEEP your gold. PERIOD."
What is the weight? Recall that it would have to travel over bridges and other load restricted areas.
And one $700,000,000 truck is a bigger target than 4 $200,000,000 trucks.
I wonder about the holdings of those Gold ETF’s. I believe Citibank is suppossedly holding it but they and JP Morgan are playing big games in the derivatives market. Just read this and then try to tell me that there isn’t some very fishy manipulation in the precious metals market:
I’m not convinced of deflation. And the Fed, imho, wants hyper-inflation.
Kyle Bass of Dallas correctly predicted the 2008 financial collapse. He is predicting another shortly.
The ‘Feds’ are not in control.
Fiat money is worth whatever the public thinks it is worth.
I think Texas should secede.
They won’t have to redesign the Flag though, they can just replace Texas with Puerto Rico.
Now, imagine if that Nutcase Abortion Barbie was Governor of Texas. LOL
OK, I figured out how they can get their Gold.
FedEx, when it absolutely positively has to get there.
Correct.
It is about 15 tons of gold. Big steel hauling rigs handle close to that, but it is nasty and they have to careful about their routes.
So OK, 4 or even 8 semis (with Texas Ranger armed escort) might be needed....
It is?
I would fit, but you couldn’t take it anywhere.
BTW the biggest steel haulers truck around 30 to 35 tons of metal. My buddy once did nearly 40 tons of steel girders through those mountains in the Carolinas.
Then he sold his rig and quit.
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