Texas has a bill in their house to take physical possession of the state of Texas owned gold from the NY Fed.
In 2011 The University of Texas purchased $1 Billion worth of gold with the help of an asset manager. At that time it was said "To want physical gold and not paper certificates was a form of anarchy."
From above link about purchase of gold:
“If you own a paper contract where they can only deliver you 10 cents on the dollar or less, you should probably convert it to physical,” said Bass, who isn’t related to Fort Worth’s billionaire Bass family. He said holding cash wasn’t a better choice because the rate of inflation exceeds money-market rates by 2.5 percent to 3 percent, eroding the value of cash.
“The call to take delivery is more of a challenge to the system and it borders on the anarchistic,” said Ralph Preston, a principal at Heritage West Financial Inc., a San Diego company that specializes in futures trading. “It’s like the Republicans trying to overturn President Obama over the birth certificate issue. It’s poor sportsmanship.”
They left the gold at the NY Fed. Now they want the physical gold in Texas.
Portions:
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 Company, or UTIMCO, and currently stored by the Federal Reserve.
“For us to have our own gold, a lot of the runs on the bank and those types of things, they happen because people are worried that there’s nothing there to back it up,” Capriglione said. “So I think this cures a problem before it can happen.”Physically transporting gold that various state entities own from New York City or other banks to Texas would be impractical from a security and logistics standpoint, Capriglione said. He believes it makes more sense to sell the gold Texas has elsewhere and repurchase it within state lines.
We can take a guess on whose side Capriglione is on and who he works for. He wants to sell it and then repurchase it?
How many individual states own physical gold? Besides countries want to repatriate their gold, the individual states of the United States need to get their physical gold in their state.
Will Texas get their gold? I can only imagine there are many threatening phone calls going on right now about this issue. The threats may stop Texas from repatriating their gold, since we know the gold is not there. How many thousands of tons of gold is suppose to be at the NY Fed for states and other countries?
Do I believe Texas will get their physical gold? No, I don't. They will be threatened with their lives for daring to ask for what is rightfully theirs and what they paid for. With the Fed, you can give them your money, but don't dare ask for it back. They are the biggest ponzi scheme in the world. They will sell you something they don't have multiple times.
It is time for the States to begin standing up to the Ponzi scheme of the Federal Reserve and Wall Street. It is time for the States to use their Supremacy Clauses to the unconstitutional Federal Laws. It is time for the people to stand up and Call for Freedom!
This is the proper method for destroying the Banking cartel: everybody owning Gold Certificates should cash them in at the SAME time. This works well nationally or internationally!
ReplyDeleteWhat proof do you have that the NY Fed doesn't have the gold it claims?
ReplyDeleteEasy. The NY Fed is suppose to hold hundreds of tons of Germany's gold. Hundred/thousands of tons of U.S. gold, besides many other countries gold.
DeleteThe audit of the NY Fed that was released revealed there was only 466 tons of gold at the NY Fed.
http://economicrisis.com/treasury-releases-results-of-ny-fed-gold-audit-inadvertantly-reveals-us-gold-stores-are-only-466-tons/369
Haven't you been keeping up with the information the last few months?
No one will ever know the truth. First of all a person would have to be a fool to believe the fed auditors in the first place. Do you really think the fed would inform you of how much gold is stored ? Why do you think the state of texas wants their gold back. They know what's going on and they are trying to expose them by asking for gold.
DeleteThe fed has admitted several times the fractional nature of their gold holdings. They don't deny it, as they think its totally normal, ok, and legitimate to sell the same gold ten times. It's a fractional reserve system... With that name, did you think they would run with 100% reserves, while calling themselves factional reserve? There is no controversy here.
ReplyDeleteWell,if the N.Y.fed.has 466 tons of gold,at todays prices it is worth $23,859,200,000.so tex would be covered with $22,859,200,000 left over.thats if i got my math right,it is too damn early in the a.m. for me.
ReplyDeleteMark,
ReplyDeleteYou are correct. That is what Germany has given them 5 years to repatriate their gold... The world banks are all linkaged and when one falls, they all fall. This Cypriot situation is telling. It may just the thing that lets the genie out of the bottle.