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University of Texas Takes Delivery Of $1 Billion In Physical Gold
Zero Hedge ^ | 04/16/2011 | Tyler Durden

Posted on 04/16/2011 5:15:45 PM PDT by The Magical Mischief Tour

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1 posted on 04/16/2011 5:15:51 PM PDT by The Magical Mischief Tour
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To: The Magical Mischief Tour
If there's ever a demand for delivery of all the paper gold some very large Wall St firms and mid-sized sovereign funds will collapse.

They don't have it. It's been sold, dozens of times.

2 posted on 04/16/2011 5:21:55 PM PDT by Mariner (USS Tarawa, VQ3, USS Benjamin Stoddert, NAVCAMS WestPac, 7th Fleet, Navcommsta Puget Sound)
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To: The Magical Mischief Tour

The only way to own gold is to possess it physically. If there is ever a run on gold those who own gold “stock” other than mines will be screwed and those who have physical gold will be rich.


3 posted on 04/16/2011 5:22:20 PM PDT by microgood
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To: The Magical Mischief Tour
Somewhere between 200-300 tons-- a routine annual transaction for central banks. Sorry but I'm not panicking.
4 posted on 04/16/2011 5:25:28 PM PDT by hinckley buzzard
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To: The Magical Mischief Tour

What do the Keynesians in UT’s economics department think?


5 posted on 04/16/2011 5:25:38 PM PDT by JimWayne
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To: hinckley buzzard

But the University of Texas is not a central bank. And university trustees tend to be very conservative. So this is certainly a significant event.

If other boards of trustees start doing the same thing, it could add up pretty quickly.


6 posted on 04/16/2011 5:31:54 PM PDT by Cicero
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To: onyx; penelopesire; maggief; hoosiermama; SE Mom; Fred Nerks; Red Steel; seekthetruth; ...

Worth the read

http://www.zerohedge.com/article/golden-tipping-point-university-texas-takes-delivery-1-billion-physical-gold


7 posted on 04/16/2011 5:31:58 PM PDT by STARWISE (The overlords are in place .. we are a nation under siege .. pray, go Galt & hunker down)
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To: hinckley buzzard

Just how long has the University of Texas been a central bank?

I missed that memo.


8 posted on 04/16/2011 5:32:27 PM PDT by null and void (We are now in day 814 of our national holiday from reality. - That 3 AM phone call? Voicemail...)
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To: The Magical Mischief Tour

I bet they can turn it into straw.


9 posted on 04/16/2011 5:33:48 PM PDT by mountainlion (America land of the free because of the Brave.)
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To: microgood

Yes, but the problem with physical gold is that it can be stolen. And counterfeited.


10 posted on 04/16/2011 5:37:32 PM PDT by Brilliant
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To: STARWISE

HOLD GOLD!


11 posted on 04/16/2011 5:39:49 PM PDT by onyx (If you truly support Sarah Palin and want to be on her busy ping list, let me know!)
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To: Brilliant

And if push comes to shove, I wouldn’t trust the owners of the NY vault.


12 posted on 04/16/2011 5:49:33 PM PDT by Pining_4_TX
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To: xzins
...considering there is not nearly enough physical gold to satisfy all paper gold in existence by a factor of about 100x.

I don't expect a run on the banks, but this is why buying gold is a bad idea. Only the real big players actually have possession of it.

13 posted on 04/16/2011 6:00:34 PM PDT by wmfights (If you want change support SenateConservatives.com)
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To: hinckley buzzard

It’s not huge. If others follow suit, though - and they will - it will become huge. It’s called a cascade effect in some circles, and this could be the start...


14 posted on 04/16/2011 6:00:55 PM PDT by piytar (Godwin's rule is null and void. If you don't know what I mean, you aren't paying attention...)
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To: The Magical Mischief Tour

How can you take delivery when the Gold is in NY with a bunch of crooks?


15 posted on 04/16/2011 6:01:41 PM PDT by taxtruth (Don't end the fed,jail the fed!)
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To: The Magical Mischief Tour

Uh, is this another way for the left to launder money? There is no reason for a university to possess the gold.


16 posted on 04/16/2011 6:03:41 PM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: Pining_4_TX

Fedgov can just take it. Anytime. Leave a little paper with Obama’s sig on it.

How many divisions does UT have?


17 posted on 04/16/2011 6:04:29 PM PDT by Leisler (11% GDP of borrowing this year alone, gives 2% GDP boost! Woohoo!)
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To: wmfights

I do accept gold’s historic position as a hedge to inflation, but I do not believe that gold has an intrinsic value that approaches its financial value. Therefore, in a crisis it has no real value.


18 posted on 04/16/2011 6:04:56 PM PDT by xzins (Retired Army Chaplain & proud of it: Truly Supporting the Troops means praying for their Victory!)
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To: Leisler

Being a bunch of sissy liberals, the only division they have is the limp-wrist division.


19 posted on 04/16/2011 6:06:28 PM PDT by Pining_4_TX
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To: hinckley buzzard

There are no more monster boxes of silver left to buy.

It’s getting bad out there


20 posted on 04/16/2011 6:09:46 PM PDT by mylife
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