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.
More important to me is why Texas is doing this. Something's afoot in the economy, and they know about it. Of course, it could just be about having their hands on their gold. After what Greek banks have done with Greek bank accounts, I'm tempted to hide my cash in a treasure chest under a big X.
But, why now, Texas?
Fed bankers
inflation comin'
We're finally on the road
This crisis I see a comin'
banks dead in Ohio
banks dead in Idaho
banks dead New Mexico
The news story we HAVE NOT heard:
Germany getting THEIR gold back.
CRICKETS.
Aren’t you an economic guru? I think I remember that from some place.
What other motive could Texas have besides just getting control of their own gold?
From whom? US...Ft Knox?
FIAT currency is just paper..
would you call 25 square ‘feet’ of gold ‘flat currency’? :>)
What about secession?
NO.. would you..
gold is tangible, paper is just paper..
Doing the math that is about 420 million dollars worth.
How about 25 cubic feet? 25 square feet could be 1/10 of an inch thick.
And the Fed said: "No. You can't have it. We'll store it for you."
And Germany said: "Ummmmmmm. Errrrrrrr. Okay. I guess."
I consider that worrisome. My guess is that the gold is in China.
tell me more about Germany...
And scarily, it is only about 2.9 feet wide, 2.9 feet deep, and 2.9 feet high. It would fit in the trunk of my car.
Secession would be handled much differently than in Lincoln’s day. I wonder what would happen if independent status were filed with the UN or world court or some other such body. I think they’d be glad to participate in the piecemealing of America. That said, I’m sure Texas is one state that WOULD be able to make it on their own.
I read somewhere that the gold amount that they have is closer to $750 million.
I wonder what other states have a gold stockpile somewhere.
post 5 was humor...it said fLat currency. As in ‘the top of my table is flat.’
Apparently, though, it wasn’t very humorous. :>)
1/10....or less
Lest we forget, AP reporters are geniuses. This one has single handedly figured out teleportation.
Typical no-clue journalist.
It is just under 6,000 bars of gold worth a bit under $700M. And it would fit on one or two semis.
.... It would fit in the trunk of my car...
But, don’t get any ideas. I don’t think your suspension can handle it. Maybe a 6X6 military truck.
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