Replies

Well gives you an opportunity to educate us freepers. I thank you for sharing your knowledge.

The following snip shows some intent but does have the mistake of saying it is
stored with the fed. You’d think the State Rep would know better. I didn’t but I
wasn’t authoring a bill to create a storage facility.

It isn’t that large in physical size according to snip, about the size of a work desk.

http://trailblazersblog.dallasnews.com/2015/05/texas-set-to-create-a-gold-depository.html/

Texas set to create a gold depository

snip
Rep. Giovanni Capriglione, R-Southlake, has worked for two years on the legislation
that allows the comptroller’s office to create the depository, which would
make Texas the first state in the nation to do so......

For example, the University of Texas Investment Management Co. has about $1 billion
in gold stored with the Federal Reserve in New York. That’s about the size of a work
desk, Capriglione said.

Meanwhile, as Texas gets more deposits, it will be able to earn revenue off the fees.
The depository would work more like a bank when the system is fully operational,
handling transactions through gold, silver and the like.

end snip