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This has been around FR a couple of days. There appears to be some misunderstanding
as to whom is holding the gold Texas is proposing to build a repository for. Supposedly
the Feds don't hold private gold, only Fed owned gold.

Here is a thread from yesterday with some 70 comments if anyone is interested in reading them.

Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”

I posted the following on that thread from an article back on 4/17/2011.. University of Texas Endowment Holds $1 Billion Gold, 5% Of Its Portfolio

snip
Friday, as gold prices hit a new all-time high – $1486 an ounce($1500 is around the corner),
the University of Texas Investment Management Co., revealed that 5% of its $19.9 billion
endowment(it handles Texas A&M as well) was in actual bars of gold bullion in a New York
bank vault owned by HSBC Holdings, the London based global banking institution. Not in
any gold ETF or individual gold mining shares, or in gold futures;l Texas took delivery
of 6,643 actual bars of bullion, or 664,300 ounces– a quite unusual transaction for a
university. end snip

CLICK

BREAKING: Texas Signs Bill to Get GOLD from Fed

Let me post the correct links to threads from the past couple of days.

Seems I messed one of them up.

http://www.freerepublic.com/focus/f-news/3300204/posts
BREAKING: Texas Signs Bill to Get GOLD from Fed

http://www.freerepublic.com/focus/f-news/3299938/posts
Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”