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Topic: Texas to repatriate its gold?< Next Oldest | Next Newest >
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PostIcon Posted on: Mar. 23 2013, 3:22 pm  Skip to the next post in this topic. Ignore posts   QUOTE

Call it the Rick Perry gold rush: The governor wants to bring the state's gold reserves back from a New York vault to Texas.

And he may have legislative support to do it. Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Co., or UTIMCO, and stored by the Federal Reserve.


http://www.star-telegram.com/2013....te.html


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Killing one person is murder, killing a 100,000 is foreign policy
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PostIcon Posted on: Mar. 23 2013, 3:45 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Busy-work.  Jim Rogers (a commodity perm-bull) has argued that energy is a better inflation hedge than gold, which TX is better situated than most states.  I'd say this is crony-capitalism for various donor's construction and security companies than any sort of financial stability.  No one cares where the gold is located and in a high inflation situation real estate, energy, and collectibles soon surpass gold (95% which goes to jewelry and needs to be put in an alloy anyways).  While TX low income tax is tempting, most need to look at the very high property taxes (there's usually one level exemption plus another when retired, but new infrastructure just adds one more layer).  

Add that the mega-drought seems to be going into it's 11th year (with a couple years break), fresh-water may prove to be worth more than it's weight in gold in TX.  They'd do better trying to figure out how to manage water east of El Paso (the only TX city with a clue on how to manage water IMHO).


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PostIcon Posted on: Mar. 23 2013, 3:55 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

When settling certain transactions, gold gets moved around between accounts / locations.  That's why a trusted, central location makes sense.  It's easier to dolly the stuff from one side of the room to another -- versus hiring Brinks Security to truck them coast to coast and everywhere in between.

But if Texas wants to keep its gold within its own borders, I think that is their right.  Busy work indeed.


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PostIcon Posted on: Mar. 23 2013, 3:57 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

That's probably accurate, the donors construction and securities. Or it's more Texas  succession talk.

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PostIcon Posted on: Mar. 23 2013, 4:02 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Montecresto @ Mar. 23 2013, 12:57 pm)
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That's probably accurate, the donors construction and securities. Or it's more Texas  succession talk.

A house divided cannot stand (or something to that effect). Imagine Texas returned to Mexico and becoming Tejas once again.


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PostIcon Posted on: Mar. 23 2013, 4:25 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Well I don't know.......imagine if colonial expansion had stopped at St. Louis and the US ended up being comprised of 20 states, or however many there are east of the Mississippi. Also Tejas was rather taken from Mexico, like NM,AZ,NV,CA, ETC.

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PostIcon Posted on: Mar. 23 2013, 10:48 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Sounds to me like Rick Perry is going of the rails on the crazy train. Maybe Michelle Bachman set the bar a little higher for him this past week.

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PostIcon Posted on: Mar. 23 2013, 10:51 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

He was a viable presidential candidate for the party!

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PostIcon Posted on: Mar. 23 2013, 10:52 pm Skip to the previous post in this topic.  Ignore posts   QUOTE

Scary.  But no worse than Sarah Palin...  Our republic will survive (I think).

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8 replies since Mar. 23 2013, 3:22 pm < Next Oldest | Next Newest >

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