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Hooray for UT! I'm proud of y'all.
Wait. The University of Texas has a billion dollars worth of physical gold?
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.
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.
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".
Their moving the gold is a good idea. i.e. the moving (by them) is a good idea.
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.
Even so, SW is an invaluable poster.
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.
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.
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:
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.
5--Double Secret Service protection.
Might be better off with some bow-tied NoI krew.
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.
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.
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