|Gold at the New York Fed. (Federal Reserve Bank of New York)|
Thanks Deva for posting this. First thought that popped in my head was is this a move by the "Texas Camp" to keep themselves going? Gold increases in value as the dollar decreases, other wise its just a commodity... -AK
Texas wants its gold back! Wait, what?
Posted by Neil Irwin on March 26, 2013 at 10:58 am
Texas has generally been at the front of the pack of a certain variety of uber-hawkish, vaguely paranoid monetary policy talk over the last few years. Recall it was the state’s governor, Rick Perry, who while running for president strongly suggested that Ben Bernanke would be committing treason should the Federal Reserve print any more money.
But now some in the state, including Perry, are looking to put their money where their mouths are. Literally.
Perry and some in the Texas legislature want to bring the roughly $1 billion worth gold held by the state university system’s investment fund onto Texas soil, rather than in its current resting pace in a vault in New York.
“If we own it,” Perry said on Glenn Beck’s radio show last week, according to the Texas Tribune. “I will suggest to you that that’s not someone else’s determination whether we can take possession of it back or not.”