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FSN: The Coin Analyst: Texas Wants Its Gold Back, but to What End?
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Louis Golino
Coin Week
At first blush Texas might not seem to share much in common with Germany.
But in addition to being the largest states in their respective unions, Texas, like Germany, now wants to take physical possession of its physical gold reserves stored outside the state.
A few years back the Texas university system made headlines by making huge investments in gold, not shares in gold-backed ETF’s or mining companies, but actual gold, a billion dollars worth of it, in fact.
That gold, which is under the ownership of the Texas Investment Management Company, is currently stored in New York. While many people believe that like Germany, Texas’ gold is held below the New York Federal Reserve Bank, in reality the gold is stored with a private bank, HSBC, one of the largest banks in the world.
Continue Reading at CoinWeek.com…
2013-04-02 15:02:54
Source: http://silveristhenew.com/2013/04/02/the-coin-analyst-texas-wants-its-gold-back-but-to-what-end/
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