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.
Something is going on here, and it is not funny...
When states are bring back their gold and planning to store it locally, something is going on and it is not a good thing...
You folks may laugh about this but the whole idea is worth some thought. Why? Is there something going on the we do not know about? This question alone should make you question why this is happening.
Is an economic collapse eminent? I would think that the states would have much more information than we have...so don’t be so quick to judge.
....wonder what would happen if independent status were filed with the UN....
The H€ll with the UN or any “world court”
The Republic of Texas would never tolerate being a creation of those abominations.
“was being charged a storage fee of $108 per bar by a bullion depository in New York City, a total cost of more than $605,000 a year. “
http://www.fortbendstar.com/2015/06/10/vaults-across-texas/
$605,000 a year would do Texas more good in Texas’ economy than in New York’s...
Shoulda been done long ago!
(and I got your joke in #5, and thought it was funny)
:)
At about 1200 pounds per cubic foot, that amount of gold would weigh over 14 tons. You might want to think about beefing up your suspension. :=)
However 25 cubic feet is only 3 feet on a side and 3 feet high.
Unless they meant to say 25 feet cubed.
And you got that one two. We be mates, I suspect, from the same generation. :)
“one TOO”
sorry, my typing fingers have lousy grammar skills
“Gold is the most malleable and ductile of all known metals. A single ounce of gold can be beaten into a sheet measuring roughly 5 meters on a side.”
- swiped that from the top of the Google hit list on [ gold malleability ]
25 feet cubed is more than half of all the gold that has ever been mined, I believe. So I’m thinking the 25 cubic feet is more likely.
The “journalist” is an idiot. It’s a brick of bars that measure about 25 feet x 25 feet x 25 feet.
Post 11, CCG has it exactly correct.
Last I heard, at least.
That hugely important story has been super quiet for...like 1.5 years.
My feeling is we spent their gold, basically, and if others trusted us the same way, well, we did the same to them, too.
An ominous and totally blind guess.
Even at that, the relatively small volume is amazing. It just doesn’t seem like much, does it? I could put that in the corner of my barn, cover it with a tarp, and still have room for a pontoon boat, a tractor, a pickup, 2 cars, and 2 work areas.
“What’s under the tarp, Dad?”
“Scrap metal for a rainy day.”
.
But Gold is not transported in Semis.
It is transported in armored cars, and usually not more than 50 bars to the car.
.
If I had to decipher this, it might mean a trade of the out of state gold for other gold that other people own that is physically sited in the state.
But this is redneck gold. It has to go in a pickup truck. No other way has the right dignity.
Deflation is here in an undeniable way.
It won’t affect everything at once, but it is creeping in.
Super redneck suspension
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