Posted on 06/13/2015 2:12:39 PM PDT by Rockitz
The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now - as we noted was possible previously - Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed's vaults to a newly established state gold bullion depository..."People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold," and the Bill includes a section to prevent forced seizure from the Federal Government.
From 2011:
"The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board."
The decision to turn the fund’s investment into gold bars was influenced by Kyle Bass, a Dallas hedge fund manager and member of the endowment’s board, Zimmerman said at its annual meeting on April 14. Bass made $500 million on the U.S. subprime-mortgage collapse.
“Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said yesterday in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”
And now, after we noted the possibility previously, as The Epoch Times reports, Texas Governor Greg Abbott signed a bill into law on Friday, June 12, that will allow Texas to build a gold and silver bullion depository. In addition, Texas will repatriate $1 billion worth of bullion from the Federal Reserve in New York to the new facility once completed.
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(Excerpt) Read more at zerohedge.com ...
My dad, having been a teen in the depression, was always very concerned about having something of value. Coins, genuine jewelry, property. He did get it wrong on one thimg. He had a very large pile of $1 silver certificates, which were supposed to retain the value of a silver dollar. The US government promised it.
Any idea what I should do with my 30 silver certificates?
If I don't have something, it isn't mine. Definition of insanity....a gold bullion IRA "in safekeeping".
Very interesting.
Specifically it is the University of Texas Investment Management Corporation, a corporate entity established to manage the UT endowment. Which is another reason why the Texas gold is not at the New York Fed. They do not store gold for private corporations.
And why should we believe Michael Mross instead of the Bundesbank?
I’d also point out the Mross also stated that Germany had repatriated 37 tons of their gold, so obviously it’s there. The Bundesbank conducted an audit of their bullion last year as well. But nothing gets in the way of a good conspiracy.
These days a billion is not all that much.
IMO, Texas would do well with a silver depository.
Start accumulating it at the current bargain prices.
I’ll take a billion in silver vs gold...IMO the upswing potential is much greater.
Someday the Republic of Texas will live again as an independent nation.
They best drill it and find out how much tungsten is in the gold.
I’ve seen them for sale in antique shops.
But they did.
They don’t trust the feds anymore than you or I.
Ever hear of the energy industry? Texas has a 12 mile limit of its coastal waters, more than any other state, because it was an independent country when it entered the U.S. The oil money from these “tide lands” goes into the Permanent University Fund, so it has billions of dollars of revenue, ballooning during the recent oil boom.
Some wonder why Texas students struggle to pay rising tuition at UT and A&M, the only university systems that have access to this fund. Most Texans are clueless as to why they get nothing from their energy resources, while Alaskans get a handsome check every year as their share of Alaska’s oil revenue.
If the snubbed Germany they will snub Texas.
Courts will rule they can’t get it back.
Maybe this is what’s behind the military rehearsals. Should we hang out a sign that says, “Come and take it?”
The Republic of Texas may yet arise again...
That’s my wish. This may very well be Abbott’s next move. How long will it take to build the depository and where is it going to be?
They didn't snub Germany and they can't snub Texas because the Federal Reserve doesn't hold any gold belonging to the state or its agents.
They are worth about $1.25.
Sell them.
Go buy yourself a halfway decent lunch.
Better drive a nail through each piece to make sure it is not gold plated Titanium!
30 x $1.25 = $37.50 (broken government promise)
30 x $16.00 = $480.00 (approx. current value of silver)
Dad should've kept those 30 silver dollars. Maybe there's a lesson for today in that.
<^..^>
Now this I find interesting. Very interesting. What does Texas know?
The Republic of Texas may well rise again someday, but it will likely be without its gold (getting one’s gold back from the Fed Reserve Bank has proven to not be an easy feat)
who knows, this could be the tripwire for a Texas war of independence
?
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