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A Golden Tipping Point: University of Texas Takes Delivery Of $1 Billion In Physical Gold
Tipping points are funny: for years, decades, even centuries, the conditions for an event to occur may be ripe yet nothing happens. Then, in an instant, a shift occurs, whether its is due a change in conventional wisdom, due to an exogenous event or due to something completely inexplicable. That event, colloquially called a black swan in recent years, changes the prevalent perception of reality in a moment. This past week, we were seeing the effect of a tipping point in process, with gold prices rising to new all time highs day after day, and the price of silver literally moving in a parabolic fashion. What was missing was the cause. We now know what it is: per Bloomberg: "The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board." And so, the game theory of a nearly 100 year old system of monetary exchange has seen its first defector, but most certainly not last. With an entity as large as the University of Texas calling the bluff of the Comex, the Chairman, and fiat in general in roughly that order, virtually every other asset manager is now sure to follow, considering there is not nearly enough physical gold to satisfy all paper gold in existence by a factor of about 100x. The proverbial Nash equilibrium has just been broken.
From Bloomberg:
The fund, whose $19.9 billion in assets ranked it behind Harvard University’s endowment as of August, according to the National Association of College and University Business Officers, added about $500 million in gold investments to an existing stake last year, said Bruce Zimmerman, the endowment’s chief executive officer. The holdings are worth about $987 million, based on yesterday’s closing price of $1,486 an ounce for Comex futures.
Years from now, when historians attempt to define who may have started it all, one name may emerge...
The decision to turn the fund’s investment into gold bars was influenced by Kyle Bass, a Dallas hedge fund manager and member of the endowment’s board, Zimmerman said at its annual meeting on April 14. Bass made $500 million on the U.S. subprime-mortgage collapse.
“Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said yesterday in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”
In summary - the fiat tide is now going out. And among those who will first be
observed swimming naked are the very same people whose fate has been so
very intrinsically linked to the perpetuation of a flawed regime (and
who coined this very saying). In the meantime, hold on to your hats: should a scramble for delivery ensue, the recent parabolic move in various precious metals will seem like a dress rehearsal for what is about to transpire.
The only open question is who was the broker with enough gold to deliver to the UofT. We hope to find out soon enough. We also hope that the UofT is smart enough, and that Kyle Bass advised it, that if they are getting "delivery" in a Comex vault in New York, the gold has likely already been leased out at least several times to various entities demanding paper allocations...
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Uuuuuhhhhhh!
Hooray for UT! I'm proud of y'all.
Wait. The University of Texas has a billion dollars worth of physical gold?
Hory shit
LMAO at the Bernank and the JP Morgue.
Hook'em Horns! They need to get that bullion the hell out of nyc to a nice secure vault in the Republic of Texas.
No doubt.
Given the general disdain NYers have for Texas (see Schumer's comments about Houston and the space shuttle) UT needs to get that stuff a lot closer to home.
I'd say, "The feeling is mutual", but "disdain" doesn't quite get it - not by a long shot.
I agree. There has to be someplace in Texas to keep this. Maybe their actually moving it to Texas will be the harbinger of secession.
Hopefully we can be the first to buck the system. This is a big fucking deal. Hook 'em!!!
I have multiple blood relatives with finance degrees from UT and multiple friends with finance degrees from UT.
I am making it a point to ensure they all know about this.
The math isn't hard.
Regards,
Cooter
Hey Cooter,
Who do you sell your gold to when it's $5,000/oz?
people who need to eat. merchants won't take crappy paper or electronic paper. there will be a boatload of people willing to exchange the deeds on their land and real estate for money (i.e. gold).
Wrong question, at $5000/oz there would have to be huge demand to maintain that price. The question is, what do you trade your gold for?
I think you should just hang on to it until the dust settles...trade it in AFTER the new currency starts up...(or after the war)
I think it gives you the best exchange point....shit, when IS the best exchange point?
It depends on the counterparty. If you go to the market you'll get the spot, in fiat currency. Private exchanges could be much, much, much more "lucrative" depending on the desperation of the buyer and what assets they offer.
I know this one! Some one much smarter than you.
You can't put a number on it. William Buckler in The Privateer has suggested that you keep PM until they are used for money. I think I will use PM as a temporary store of value redeeming it only when I need to acquire some good or service as a form of money or to pay a price agreed upon before I redeem for fiat money. At this point we may be pre bubble dynamics, but this news gives PM buying credibility that may drive PM into speculative bubble type buying.
SW, that might be the first time you've ever chosen the wrong "there", but I am going to point it out cuz I'm a feeling like being a jerk.
That being said, I don't know the total value of the assets they manage, but that is a huge bet.
"their", not "there"
Grammar Gestapo is a difficult job...
Wrong too...should be "they are" or "they're"...I'm feelin' like being a bigger jerk! ;~>
No, it should be "their".
eg.
Their moving the gold is a good idea. i.e. the moving (by them) is a good idea.
or
They are moving the gold.
But you can't say :
They're moving the gold is a good idea.
No, "They are actually moving the gold to Texas" Or "They're actually ... (the contraction of they are)
It is not "they are," it is their as in "their future action of moving the gold may be the harbinger...etc."
No, no, no! "they" in this context is a pronoun, not a possessive pronoun...future action is irrelevant in this case. Sorry, but that's the fact!
;~>. Just sayin'...
The future had nothing to do with it. You are just reading it wrong. It is not They Are. Read the sentence with they are..."Maybe they are actually moving it will be the harbinger..." doesn't make sense. "Maybe their action of actually moving it will be the harbinger..." makes sense. Actually the actually just gets in the way so if it helps you: "Maybe they are moving it will be the harbinger" or "Maybe their action of moving it will be the harbinger."
Maybe their moving is the herald (of the gold movements) Kry!
Blanche, you're an obstinate idiot. Read the whole sentence and you'll see that SWR and Temporalist are correct. The sentence already has a verb: "will be".
My daughter had an English teacher like Blanche once. I thought I was going to have to make her eat a Holt Handbook page by page, but she did finally correct the grade...after going two levels over her head. Arrogant bitch....couldn't teach English and refused to admit it.
"Maybe their actually moving it to Texas will be the harbinger of secession."
This sentence doesn't sound very stylish, but is grammatically correct nonetheless. Maybe he meant to say:
"The fact that they are actually moving it to Texas is the the harbinger of session" or
"That they are actually moving it to Texas is the harbinger of session"
Regarding "their moving", "moving" here functions as a "gerundium" (a verbal noun) instead of a verb in present participle form. This verbal noun follows the possessive pronoun "their". In this case "their moving it to Texas" is equivalent to "their movement of gold to Texas"
The heck with grammar! I like what a Texan would say: "THEM moving it to Texas would be a harbinger of session" Ain't it great
Thank you, eaglefalcon, that's exactly correct !
Finally, someone(else) knows some English grammar.
tell you whut.
Hang around ZH long enough and you'll come to realize that SW is rarely if ever wrong about anything. Kind of like Kyle Bass...
For example, Glocks and .40.
http://www.zerohedge.com/article/did-fed-its-stealthy-synthetic-bet-keep-yields-low-become-next-aig#comment-1176630
Even so, SW is an invaluable poster.
I concede!
That the're moving gold to real, is'n a right good'n id'er. Now if'n them teach'r money be want'n to trust them there New York typ's; wit'n their gold. Well'n don't seem, as i can tell it to be, a right good choice. But, that is'n just'a me think'n out loud.
Dude, you're thinking of the Beverly Hillbillies. Try "King of the Hill" for Central Texas patois.
I'll tell you whut.
Dang ole internet thing...clickety click click click...yup.
the article says 19.9 billion in assets...did you read it?
The story goes that at the turn of the 20th century or thereabouts, U of T was swindled out of some prime east Texas timberlands. In return, they received acreage in the west Texas desert. That desert was the Permian Basin. The largest oil find of its day!
"Their" is correct.
Your welcome....;-D
Grammar wars, gotta love 'em.
But it IS 'their', because 'moving the gold to Texas' is a hypothetical future tense, since they are NOT currently planning to do so. Forget grammar errors, the real mistake here is choosing to store the gold in a NYC vault. I wonder if that would be some recently opened JPMorgue bullion vault? One with convenient clandestine moving truck access tunnels, like the basement vaults of the WTC? A billion dollars in gold - hey, that's probably worth staging another 'terrorist attack' for.
I suspect the University of Texas is thinking with vastly insufficient paranoia, and haven't quite grokked this whole 'precious metals for preservation of wealth against government assaults and outright theft' survivalist thing.
But what do I care about their conceptual handicaps. Picked up a nice 12Kg of physical today; no suspect NYC vault involved. Almost enough to lift the pall of Fukushima gloom for a while. Almost.
Yee. Haa.
So the University of Texas now has more gold than Fort Knox?
The desire to have "more gold than thou" may be the crux of the tipping point. If UT has spawned a race to acquire gold, and to do so on an American sectional/factional basis no less, then, in that event, financial infighting could become so intense as to threaten oligarchical control. This is potentially serious precisely because it might destabilize the already tenuous financial power structure.
Here's a series of cryptic suggestions to President Obama:
1--Fire Bernanke;
2--Have Justice Department to indict those responsible for mortgage fraud;
3--Bring warring in Afghanistan, Iraq and Libya to an immediate halt;
4--Ration and control price of petroleum products; and
5--Double Secret Service protection.
Absent presidential leadership, the race to hoard PMs amidst the overall fog and deception of stupid wars and blatant financial manipulation might cause worldwide turmoil before the Mayan Calendar can do its number. Sheesh, at this rate, we won't even make it to 2012 doom.
Might be better off with some bow-tied NoI krew.
Jus' sayin'.
Rationing and price controls have a great history of working LOL
Dude, if you've been handling your philharmonics lately, you've probably got more gold in your fingerprints than Ft Knox contains.
We'll know the locale pretty quick - it'll be the one with a busload of ten-gallon hats "visiting" the future United States of Texas' embassy to the Occupied North.
What fun!
You know the ditty..."The eyes of Texas are upon you"... I wouldn't leave anything of value in New York much less a cool $1 Billion in shiny gold bars.
When it was announced that France was leading the invasion of Libya, a ZHer (don't remember who) said, and I quote:
"This will end well."
So it is here. With UT 1) taking possession of physical gold; and, 2) parking it in NY;, not only do we have playing out before us the dynamics of financial system collapse, we also have, in no particular order;
a) A rekindling of Civil War antagonisms; and
b) Open, indirect conflict between Fed branches (Dallas - NY).
So, indeed, this will end well.
Texas was not central to many of the civil war issues. For hard feelings, you need to go east of Louisiana.
I am very open to those who can clearly define issues to the contrary (e.g. wiki history).
Let us all learn together! :-)
Regards,
Cooter
I'm aware that Texas wasn't central to the last civil war(and i don't think another one has almost any chance currently), however if the feds go after the guns and gold Texas could have a whole lot of state's rights sentiment stirred up.
Every exchange that ever has or ever will take place between the Dallas and NY Feds or any other sector of that organisation is carefully scripted theatre.
They are carefully building a body of literature which can be selectively resurrected at some future date to prove "We tried to tell you...." or whatever other message they desire to portray to deflect attention and blame away from the true cause.
Being a born and bred New Yorker, I can assure you most NYérs have nothing against Texas whatsoever. Schumer is just an idiot. But I would also pull the gold ASAP. You´ll probably be soon seeing news reports of golden water faucets from being ripped out of the bathrooms of the Waldorf and other luxury hotels in NY right quick.
So how much gold are we talking about, exactly? By my math, at roughly $30 million per ton, $1 billion = 33.33 tons of gold, or about as much as is held by Brazil:
http://en.wikipedia.org/wiki/Gold_reserve
Thanks for the math ML.
The destruction of the fiat money system, J.P. Morgan, and The Federal Reserve Corporation is really not our fault. We're just raising public awareness pointing out the obvious.
Whoever junked me: WTF are you smoking? Do you have a grudge against me for my occasional posts aganist jihad/sharia or something?
Don't be bothered about junkers. There are plenty of assholes around. Give them a chance and they will do their deed.
Wear your junks with pride, although re-reading your posts i'm going to junk you for infering potsmokers are mad junkers.
Many potsmokers think of junking but then decide its not worth the effort....
They get distracted by the crunching sound, in slow-mo, of the chips they are masticating.
Sounds like you're speaking from experience, like, man?
Lotta maradwuana in 'nam man....
it was my first and only experience.. :)
Heavy bummer man.
When it comes to drugs i find bill hicks talks the most sense. Check him on youtube, i'm too baked to bother doing a link.
:o
It was an interesting experience, but I just didn't see any utility in it. I much rather preferred to have my wits about me than to have subjected myself, purposefully, to a situation where I am not able to respond to my environment in the capacity that I desire; my ready state if you will.
Thankfully, I am also allergic to alcohol. I can't metabolize it and it makes me incredibly sick. So I can put that money towards PM's and avoid a drunken stooper which I preferred over jane any day of the week. Perhaps it was natures way of correcting my potential for alcoholism? dunno.. either way, it doesn't bother me any. I'm always DD, and there is a benefit and utility to that which is reward enough for me on a different level.
Enjoy your "bake", bro. :D
Bill Hicks gave me my user name.
Not a smoker, but do appreciate his comments on societal decline.
+1 for a good laugh. I guess that would be just one mouse click too many.
I LOVE ANY post deriding, denigrating, despising or otherwise discrediting Sharia.
ML, when was the last time you checked the POG?
Current spot is 47,800 US$/Kg or 1487 $ per (Troy)ounce. That makes a billion$ 21.28 metric tons.
Even less then your back-of-the-napkin calculation states.
Compared to (paper) trading volume that is certainly not a lot.
many don't know (i didn't until a few minutes ago) that in troy ounces, the measure of gold, a u.s. pound weighs about 14.6 of them. also i expect that ml above was using the u.s. ton, 2000 pounds. even with this gunther's point is well taken.
yet i still wish my measuring tape had inches on both sides. (this will only change through multiple generation die off.)
"Compared to (paper) trading volume that is certainly not a lot."
Exactly....physical is not paper. The COMEX is broke. They will not get their metal. Period.
www.silvergoldsilver.blogspot.com
It would be a cube about 10 yards on each side.
Who's running that endowment anyway, the Hunt brothers?
uh, relative density of gold is about 20, so 20 tons is about a cubic metre, just over a cubic yard.
are you a math teacher??
1 meter on a side per wolfram alpha at $1486/oz
http://www.wolframalpha.com/input/?i=672947.51+oz+gold&a=UnitClash_*oz.*TroyOunces--
Crazy that a country so rich in Gold veins only has a billion's worth...
If they don't get that gold out of nyc jpm & gs will steal it, sell it forty times, then write options against it. I agree, the only mistake they made was leaving it in nyc.
Ding! Ding! Ding!
We have a winner!
Gold matters in so far as there are atoms to back the obligation. No atoms, no gold.
Given all the dynamics of todays market, its is all about 100% physical and anyone who settles for anything less is ... well ... a fool or a plant.
This is very curious that UT would play this card at this point in the game.
Regards,
Cooter
Yeah, it has an air of temporariness to it. Possibilities are:
A) They figure gold is going up in the short-term, but not long;
B) This is just the first step, the final resting place is still in the planning (best to get some kind of lock on it rather than be sitting on fiat when its bottom drops out);
C) They're stupid.
I'm not seeing "C" as being likely: yeah, no one's exempt from making a big blunder (lots of folks did so of recent). Really only leave "A" or "B," and this is anyone's guess; but, as has been stated many times, fiat has a greater chance of going to zero than does gold.
Thanks for emphasizing what I've been saying (ad nausia) that people have to account for the physical world (none of this "technology will save our butts" BS), that we're losing the easy to find concentrations of handy atoms (of the various combinations that make our lives easier).
(A) This is not a play to grow the investment base. No need to make such waves to chase "yield".
(B) No atoms in hand == no atoms in hand. I think this is not lost on Kyle Bass (<aside>any relation to the Bass family?</aside>).
This has the potential to be a real bank run, albeit from an unsuspecting source.
Get on the horn with your alumni and tell them second may be as good as last!
Regards,
Cooter
D. They see through the forest of bullshit and are hedging the storage of the their wealth in physical, therefore ensuring their existence beyond the collapse of the dollar.
You left out "... And then lose the paperwork."
Insurance Transportation Storage (& Fiduciary Responsibility)
Making the purchase is the easy part. However, there needs to be a properly developed business case to incur the expense of removing gold from the "system." $1B is actually not a large enough volume to justify the expense of building a proper solution from scratch. If UT wants to store the gold in Texas, they have to find a suitable location within the state and identify and document the risks they seek to minimize or eliminate by doing so. They must also quantify that the cost of the measures taken is justifiable against the risks of the alternative of leaving the gold in its present location.
It can be done, but skipping ahead a few steps, a legislative framework would have to developed in Texas, to build out the infrastructure and share the implementation and operating costs. Simply shipping the gold to the back corner of a local TBTF bank's vault is extremely expensive and doesn't mitigate all identified risks while introducing new risks and costs.
That's the problem. If they DO get it out of NYC the power boys could steal it. A cubic meter of gold would take a train car or several armored cars to transport and there's a lot of miles from NY to Texas. What are the odds that GS, JPM or the Fed won't at least think of finding "bandits" to bring it back to the fold. It's expensive to hire that many Texas Rangers to bring it home safely. On the other hand half this gold has been around for awhile. How do we know it's really where they're saying it is? If they bought gold in the first place they're probably not stupid.
All they need is Chuck Norris to watch over the convoy. Any Federales who get too close...well, they can expect a whirling cowboy boot covered foot of death to come their way.
Chuck Norris doesn't sleep. He waits.
If the Rangers cain't ride herd on a cubic yard of bullion, then there ain't much point in keepin em around, izzere?
COMEX registered vault? HSBC? Better get it back to TX. From the Bloomberg article:
"The endowment, which oversees funds held by the University of Texas System and Texas A&M University, has 6,643 bars of bullion, or 664,300 ounces, in a Comex-registered vault in New York owned by HSBC Holdings Plc, the London-based bank, according to a report distributed at yesterday’s meeting in Austin."
HSBC the original, first, leader, innovator, preferred shepherd of the gold price supression scheme for the Bank of England.
Sweet.
Are they holding it on a segregated, unalloctaed basis? Can they examine it at any time? Does HSBC guarantee saftey (NO) Why not ship it to the Canadian Roayl Mint, with a Sprott type arrangement for safekeeping?
+++++ Yes, I agree. It may yet again become The Republic of Texas.
I lived in Texas as recently as February. Secession is crazy talk. Seriously. Should such a thing come to pass, there will be many, many FLAGS along the way. Should such a thing happen, it will take months, if not years.
Don't toss around such notions with assurity.
Regards,
Cooter
Looks like they are trying to kill the beast rather than walk away from it.
things change fast, once the "government" is bankrupt, who knows where the power sources to?
making it illegal to secede doesn't change public sentiment, you all talk about sheeple, and their ability to be turned easiliy all the time, so how could you not realise that when the monetary power shifts, the sheeple do too?
I have high hopes for texas, which will most likely be sundered.
http://www.youtube.com/watch?v=uPuKoqu6kMk
Texas was a funny critter when it joined the union. There was doubt at the time, so it was "ensured" there would be an "out" from the union. So, yes, the state constituion has an "out" from the "fed". However, the path to this actually occurring is cloudy at best. This will not happen without a lot of very public drama.
Personally, I don't think this is realistic even as here-say.
If you are concerned about investments and such, safe is the short term and do your home work in the long term. Nothing will happen that isn't obvious it was coming down the pike. A state will not bail on the union without plenty of warning ... god forbid our future be so fscked up as to this being lost on the public somewhere along the way.
Secesionist talk is just dramatic BS, including Perry (worthless PoS).
All this aside, Texans are very independant folks, so Kyle Bass (??Bass family??) is not out of line at all. Even though I moved to Alaska, I still tune in to 95.3 the range (www.khyi.com) for the great Texas (Americana) music.
For those in the lower 48, I really suggest you take a long, hard look at hanging your hat in Texas. It is the second best place to be in the union.
Regards,
Cooter
Alaska is number one?!?!?
Gotta agree with ya, friend...TX is too valuable to the feds to ever allow it to secede. Nobody'd ever miss VT...heck, even SC could go without too much fuss...but not TX.
We keep workin' on it, though.
www.southernnationalcongress.com
Texas is a great state. However those calling for it to be some sort of American redoubt against the statists neglect to mention they are already outnumbered in their own state. The Texas demographer had some comments regarding the situation recently. So no, Texas is following California's lead into the fiscal hole it will just take a bit longer as you did not start with a base of moonbat non-producers you have imported yours.
O/T - Saw Atlas shrugged last night, the full house audience clapped & cheered as the credits rolled..
TX can split into 5 states at any time, meaning 10 senators instead of two. It's part of the treaty.
reeks of hayman...
My secret hope is to see TX secede from the union, and I hope to be there when it does.
This is a good first step to preparing for an asset-backed currency for the Republic.
Best place for the vault is right under the 50 yard line at Memorial Stadium
Wait, best place for that stash would be under the stage at Antones.
UT
1. Good Move. Hedge against the banking criminals by buying Gold.
2. Bad Move. Leaving the Gold In the "hood".
a) will it be there when you need it ?
b) does it really exist in the first place ?
c) are there a hundred priority claims against the physical gold that you think you own ?
d) Can a senior government, government agency, or pseudo-government (the Fed criminals) claim it under the Too Big To Jail rubric.
I still believe that there will be one more giant bear raid and perhaps a token rate increase to suppress the break out of the PM's. That will also be unsuccessful as all others in the past.
As long as they print fake money we will see giant bear raids--aka, buying opportunities.
its a war. they will go down fighting to the death. nothing will trump physical. smoke em if you got em.
o.k.: there is nothing token (with current short rates in low single digit basis points) about a rise of say 25 basis points (1/4 of 1%).
according to john hussman's most recent piece http://www.hussmanfunds.com/wmc/wmc110411.htm it will present the fed with two very painful horns of a dilemma: drain over $600 billion from the money supply or face a 40% increase in consumer prices in six to eight months (or somewhere in between).
these are the times that try the souls of even the masters of the universe.
TFTL
Who thinks Texans are stupid, now? Watch for more of this.
They're stupid to leave it in a vault in NYC.
I might worry a little but practically speaking they can send a rep and make sure it is allocated and serial numbered properly. It's essentially a giant safe deposit box and realistically there are not many places to store that much gold. I actually think it is very significant that they bought physical gold. What does that tell you? It tells me they don't trust the GLD, options, paper gold, etc. This is actually a very conservative and safe move. I applaud them.
This is the million dollar ... or ... one oz ... question.
Or, in classic speak, bank run bitches.
Regards,
Cooter
Does this make them a domestic terrorist organization? Should the DHS investigate?
now i'm sure all the teachers and union and 401k plans accross america have followed the model.....
No, but they will. Probably not 401k's though. And when there is no gold? Silver will be bought.
Kyle Bass is a really smart guy. Not dramatic, doesn't talk fast and urgent, just measured and calm. I always read and follow his interviews. UT fortunate to have asked him to be on their endowment management advisory board.
Will other endowments and managed funds follow suit with physical delivery? If so, gold goes parabolic pretty quickly. We closed yesterday at about $1487, so let's assume $1490. My post last week http://bit.ly/gBVBqE had US holding of gold worth almost $380Billion. Now, more like $387 Billion. If UT has $1 Billion in physical holdings, I wonder where it is coming from.
This is a fascinating development. Thanks ZH. Please continue to keep us informed!
If UT has $1 Billion in physical holdings ...
If they are leaving it in New York, has anyone actually seen the physical gold to know that it exists?
UT= University of Tungsten
Weigh it cowpokes!
UT= University of Tungsten Weigh it cowpokes!
if some are questioning the location and assay results of the u.t. putative gold in the same conversation that mentions the near $400 billion of u.s. gold (8000 tons) shouldn't we ask about whether that larger stash is: a. there b. actually gold and, at least, c. unencumbered?
The government says: "It's in there... like Ragu"..
A couple of years ago I noticed that Univ. of Notre Dame was the 3rd largest holder of GLD, but they are no longer on the list. How much gold does USC or Stanford or ucla have?
The NCAA is still investigating how much of it they gave to Reggie Bush
http://www.businessinsider.com/university-of-texas-gold-kyle-bass-2011-4
Anyone know when they purchase the gold, and when they took delivery? I think that would be more telling.
They better get it out of New York.
Between all things Obama and Bloomberg, I don't think they will be allowed to take their gold from an FRB or JPM vault.
Note to UT.
Do you really think a bunch of New York bankers are going to help a bunch of folks they consider country fucks move that gold to Texas when things get really weird?
They will take great pleasure to holding that gold via a lawsuit for decades.
Start moving it to Texas.
Agree 100% ... except the "country fucks" part ...
On that note, my grand father (dad's side) was Pennsylvania Catholic and also a land man for H.L. Hunt who spent most of his life doing title work in Louisiana. One of his comments that stuck around through the years was that "New Yorkers mistakenly think that brains stop west of the Hudson".
Perhaps no truer words have been spoken, but it depends on how things play out. KyleB definately is playing a strong hand and I wish him the best.
Regards,
Cooter
As Arte Johnson would have said, "Veeeedddyyyy interestink!"
Schultz!
http://www.youtube.com/watch?v=34ag4nkSh7Q
Regards,
Cooter
The Hunt boys hired the best marksmen 30 years ago to transport that silver. UT needs to get that gold out of NY asap, otherwise you can "fuggedaboutit"!
An intermediate Top is in the air...!
Muir! Can you please get a new avatar? I spend too much time being distracted by that... that... thing!
UT is right down the street from me, and I think they are mighty trusting to put this in a vault in New York, but I guess this still counts as "physical".
They will move it to Texas before Texas secedes from the Union
+ one Rebel Yell ;-)
Do they still sell those??
Well, not to divert too much away from the topic at hand...
There were wide variations depending on the theater of operations...out west they were different, more Indian-ish, less fox hunting/hog callish than in the east...they all varied...almost by state.
Here's a couple...then magnify by thousands of voices;
http://www.youtube.com/watch?v=CzOAbekZoOc&feature=related
http://www.youtube.com/watch?v=ssLMroT2euQ
All of them scared the shit out of those they were directed at...some maniacal screams of rage...others more haunting...they all meant death was coming.
Thank you sir. I passed this on, sort of, to some GameCock alumn busting their chops to to pull a UT in as far as gold atoms are concerned.
The YouTube left me in that zone you find your self in where you question "is this real".
I am not sure what to think.
The dead left in the civil war are numbers not lost on me. It is just hard to grasp.
Regards,
Cooter
Quite welcome kind sir.
My great grandfather was fortunate, wounded twice, but still made it home to his family with all limbs intact.
Deo Vindici ;-)
+ 1836
+21 tons
The attempt to move the gold will be a part of the secession process.
False.
Provide something more substantial.
Regards,
Cooter
Let's look at the matter from the perspective of meaning.
Firstly, the UT acquisition can be seen as a form of hoarding, sending out a signal to endowment funds, within universities and elsewhere, that acquiring PMs in abundance is a good thing.
Secondly, there is an unquestioned sectional rivalry element at play here. I don't think you're correct in downplaying TX participation in the first civil war or the current secession sentiment there. Just within the last few weeks there was a secession rally in Austin.
Granted, the elements discussed here are diverse and not specifically connected one with the other. However, that is how tipping points work, correct?
It must be because the Texas Congressman Dr Ron Paul has gotten through to them.
Highlights from Ron Paul's Rally at UT (Austin, TX)
http://www.youtube.com/watch?v=aWqiWxXpr1M&feature=related
Ron Paul doesn't get anybody to do anything. He's just some sort of freak that keeps educating people even it takes him his entire life and he's old and dead before it finally makes sense.
You have to admire consistency and dedication. He just tells the truth as he sees it...yes, I hope until he expires. The truth wins out over time.
Well that's basically the mechanics of it all. Most of the bad stupid crap we put up with is because the evil fuckers are basially crazy. They turn complete and total conviction into some sort of plasticized masticized expression of lunacy.
I mean that's basically what the fed is doing. They are simply repeating to everyone I'm in controll and I'm in charge and doing whatever evil shit they can get away with. But it's basically an undeclared war. Where they are simply fucking over a small percentage of people at a time making sure nobody gets here who will screw with them on a big scale based on past life responses to things. They don't mind opposition and will in fact goad people into opposition when they feel strong enough to defeat them and leave people alone when they feel insecure. They know these business cycle things are big dangerous scary things as they are uncontrollable and create massive resistances.
People have to fight crazy with crazy. Basically fanatically determine that you don't pay taxes to ANYONE. And crazilly kill mame and destroy anyone who wishes to fight the sovereignity and dignity of non slavery.
That's why ron paul has been targeted so severly by homeland security. He's a fanatic. A kind gentle patient fanatic but a fanatic non the less.
People should point out that the IRS collects taxes from 4 year old kids buying bubble gum and that social security collects money to repay at a later date from 16 year olds who are not legally bindable to contracts. Adjust thier social security benefits to price of gold and demand payment due upon receipt. Start a collection agency abuse regimen of mail bombing them with debt collection letters. Phoning them and calling them dead beats and screaming at them to pay their debts. Borrow the money from your mom your brother your friend. I don't care just pay your fucking debt. Rob your senator neighbors house and sell it to a pawn shop. I don't care just pay your debt.
Write up a fanatic mantra that is equal to thier fanatic mantra. Basically declaring that you have the right to continually harrass them with real provable debts and anything you want to make up. Buy cb radios and if anyone sees a cop trying to pull over a person. Demand to see the arrest warrant or citizen arrest the cops for violating the persons 4th amendmant rights.
Harass your mailman for putting flyers in your mailbox and demand they have filled out permission slips for every delivery they make. Don't be afraid to make rules or laws and even stupid arbirtrary laws at any point and force them to follow them. Bury industry in consumer neurotic nut. Don't be afraid of projecting. Don't waste one second on introspection just get out there and assert and demand. Of course you'll be exhausted during the whole thing but eventually you'll turn the governors into you slaves and they can wash your underwear and cook your food for you while you spend time fighting their kids delusions that they aren't also responsible for thier parents past misdeeds and preparing them for a life excellent service.
Then keep telling them that it's only temporary that there's a way out. Devote yourself to performing dangerous science experiments in the middle of highly populated areas. You know the higher callings of mankind. Teach forgiveness while punishing every little indesgression to rediculous degrees. Learn how to hold people responsible for things they are not responsible for and if you don't get a sufficient guilt reaction just keep hammering away at their psyche till you do.
The Fed epitomizes the very essence of the System, the System that we ALL operate under. They are doing the ONLY thing that is possible given the the System is based on one huge Ponzi.
"They know these business cycle things are big dangerous scary things as they are uncontrollable and create massive resistances."
No, there's only really ONE cycle, and we're starting to hit the wall on it. It's called the "physical cycle." Any other cycle is just some virtual concoction.
Thinking that things will cycle (up) again is akin to believing that housing prices would never drop. This is uncharted territory (reference the Jim Grant article - http://www.zerohedge.com/article/jim-grant-inflation-there-will-be-lot-i...).
I agree with a lot of what you say. What is interesting to me is that as you begin thinking like a free person in a theoretically free country you begin getting upset at lots of things you took for granted as part of the "game" and life in the U.S. You also start to see things differently and the inherent evil in them. Things like stupid traffic tickets to property taxes to the essentially now unlimited power of Congress. We've become more of a pure democracy without any Constitutional limits at the Federal level. The states who were the principles and therefore held the superior position to the Federal government are all but servants to the Feds.
When I sit down and review life these days I realize you cannot move, buy, sell, trade, travel, build, etc. without government permission at all levels. I just moved and had to get VIN verifications, emission tests, title transfers, insurance changes and verifications, stand next to guys I swear were on parole and then get my official papers to drive. I was also levied with heavy property taxes on those vehicles, plus state fees plus a new "special fee" instituted due to the recession. The scam is that driving is a privelage not a right. Really?!? If free people cannot travel are they really free? Shut down all the highways for a day and test that theory. I just use this as an example of the heavy hand of the state in every single aspect of life.
Now, go finish documenting your life to the government as you file your taxes. If they don't like any part of it get ready for an anal-rectal exam of your life (audit) and the proper documentation of every aspect of it to prove you don't owe more. Face it, we are subjects, not citizens any more.
Is anyone beside me pissed as hell at this situation? Without a raft of Ron Paul types this will only get worse.
I still like how people junked me without looking at the deeper message about ron paul.
I didn't renew my license that expired in 2010.
I didn't fill out the census forms.
I stopped paying auto insurance in oct 2011.
I didn't renew my tag in december.
Driving is only a privelage because you are told it is.
You can't drive. Yes I can. You have to pay insurance. No I don't. I hate that fucker Warren Buffet and I'm not in the habit of enriching people I hate. But you can't pay the people if there's an accident! I can counterfiet the money and pretend I'm a responsible adult following rules. You think Warren Buffet has the money to pay claims without counterfeiting? You think banks have the money to pay cash claims without counterfeiting? During the bank runs in '08 the fed trucked out 40 billion in cash to banks.
Being responsible is counterfeiting. Of course you are just pushing the responbility out onto every person who uses your currency. But you get to keep the credit. It's not just socialized losses privitized gains. The legitimacy and "good neighbor" appearances are privatized as well. Of course It's really easy for me to act like a solid as a rock word is my bond person if I can get everybody to back me up without knowing they are or getting any credit for the deed.
We'll just have to see if this all works though when you screw up an ENTIRE COUNTRY namely japan. It's kind of weird how they are already trotting out GE engineers who "walked away" from the tepco plant. I mean the accident was 2 weeks old and they are already laying a groundwork for negligence and no insurance pays. Coulda laid that groundwork everytime they sent out of a premium bill but NOOOO. Coulda laid that groundwork all over the main stream media during construction. But NOOOOO. Just lay that groundwork when you need to weasle out of something.