Thanks for the input.That does make a difference.
But what will the Fed think about the Texas Plan in general? It seem to me that Fed Frowns are more likely than Fed Smiles.
Private ownership of gold is legal in the U.S. so there is no reason why the Fed should frown on it. It's likely that there is as much if not more privately held gold in the commercial banks in New York City than is held in the New York Fed.