This page has been archived and commenting is disabled.
Kyle Bass Was Right: Texas To Create Own Bullion Depository, Repatriate $1 Billion Of Gold
Most investors have heard Kyle Bass' rather eloquent phrase, "buying gold is just buying a put against the idiocy of the political cycle. It's that simple." However, what few may remember was his warnings in 2011, suggesting the University of Texas Investment Management Co. take delivery of its gold - as opposed to trusting it in the 'safe' hands of COMEX massively levered paper warehouse. Now, as The Star Telegram reports, Texas is going one step further with State Rep. Giovanni Capriglione asking the Legislature to create a Texas Bullion Depository, where Texas could store its gold. The goal is to create a secure facility that would allow the state to bring home more than $1 billion in gold bars that are owned by UTIMCO and are now housed at HSBC in New York.
From 2011:
"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."
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.”
And now, as The Star Telegram reports, UTMICO would prefer a Texas depository than a New York one...
“We are not talking Fort Knox,” Capriglione said. “But when I first announced this, I got so many emails and phone calls from people literally all over the world who said they want to store their gold … in a Texas depository.
“People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold.” And other precious metals.
House Bill 483 would let the Texas comptroller’s office establish the state’s first bullion depository at a location yet to be determined.
Capriglione’s changes to the bill must be approved by Monday, the last day of the 84th legislative session.
The goal is to create a secure facility that would allow the state to bring home more than $1 billion in gold bars that are owned by the University of Texas Investment Management Co. and are now housed at the Hong Kong and Shanghai Bank in New York.
“The depository would be an agency of the state located in the Office of the Comptroller, directed by an administrator appointed by the Comptroller with the advice and consent of the Governor, Lieutenant Governor and Senate,” according to a fiscal analysis of the bill.
The depository could also hold deposits of gold and other precious metals from financial institutions, cities, school districts, businesses, individuals and countries.
“This will allow for bullion to be deposited here, as well as any other investments that … any state agencies, businesses or individuals have,” Capriglione said.
Storage fees will be charged, perhaps generating revenue for the state. For instance, Texas pays about $1 million a year to store its gold in New York, Capriglione said.
A fiscal note attached to the bill states that the depository will have “an indeterminate fiscal impact” on the state, depending on the number of transactions and fees, but says it’s too early to determine the extent.
“It’s unusual,” said Cal Jillson, a political science professor at Southern Methodist University. “So far as I know, there are no states with bullion depositories.”
* * *
Perhasps the fact that Texas doesn't trust New York suggests the unitedness of the states is starting to quake and surely "the idiocy of the political cycle" has only got worse...
"buying gold is just buying a put against the idiocy of the political cycle. It's that simple."
This is Capriglione’s second attempt to create the depository.
Two years ago, then-Gov. Rick Perry was on board, saying work was moving forward on “bringing gold that belongs to the state of Texas back into the state.”
“If we own it,” Perry has said, “I will suggest to you that that’s not someone else’s determination whether we can take possession of it back or not.”
In 2013, the Legislature ended before Capriglione could win approval of the bill.
Jillson said the bill’s sentiment is consistent with the anti-federal approach that conservative lawmakers have taken this year. “It’s in line with the idea that Texas is exceptional and needs to keep a distance from the federal government that respects individual states’ depositories,” he said.
Sounds like Texas - just like Austria, Germany, Russia, and China to name just four - no longer trusts the status quo.
- 61185 reads
- Printer-friendly version
- Send to friend
- advertisements -


Yeah don't fuck with Texas!
Calm in the eye of the storm.
“If we own it,” Perry has said, “I will suggest to you that that’s not someone else’s determination whether we can take possession of it back or not.”
Not sure why more people are not a big fan of his. I'd rather Perry is our next POTUS than Bush or Christie or, God help us, Clinton.
"So that the Texas economy can thrive in a systematic dislocation in the national financial system." Go Texas!
ftp://ftp.legis.state.tx.us/bills/84R/billtext/html/house_bills/HB00400_...
Nickles bitchez!
Screw that. They should melt it down, make a big fucking BEVO out of it, and roll it around to all the games ... and let the fans bring guns!
Anyone that could take that shit home deserves it!
Regards,
Cooter
A big golden cow?
I'm not so sure that would be such a great idea. . .
According to the Torah, that's all the jews could think to do after, finally, they achieved liberation from Pharaoh.
<-- Junking here will only prove your ignorance. Hey - I didn't write the Old Testament, jews did.
Texas is sovereign.
Uh huh .... Now, the Great State of Texas does not have a State Bank run by the State that is not a part of the FED, etc., and therefore is begging to be invaded by US forces to bring freedom and democracy (As well as disappear the gold, aka Libya, Ukraine, etc.) so to my dear friends in Texas, make sure no foreign troops start to mass amongst you attempting to infiltrate into your society ....
Jade What?
Hey Jude, don't make it bad...
Anyway ^^^ just to be sure
EXODUS
32 When the people saw that Moses was so long in coming down from the mountain, they gathered around Aaron and said, “Come, make us gods[a] who will go before us. As for this fellow Moses who brought us up out of Egypt, we don’t know what has happened to him.”
2 Aaron answered them, “Take off the gold earrings that your wives, your sons and your daughters are wearing, and bring them to me.” 3 So all the people took off their earrings and brought them to Aaron. 4 He took what they handed him and made it into an idol cast in the shape of a calf, fashioning it with a tool. Then they said, “These are your gods,[b] Israel, who brought you up out of Egypt.”
Chuck Norris wants his fucking gold back!
Little known fact that Chuck's real first name is Cecil...
Hmm, this might explain why Texas was listed as a "hostile nation" for the upcoming Jade Helm 15 exercises... After all, we know the US military needs more practice in "liberating hostile nations" of their gold hoard...
I've got bad news for the average hillbilly. Gold's dead. It's true. Invest in the dollar.
I trust Texas, just get rid of Austin and I'm totally cool.
How come Cecil had his gold taken away in the first place?
A Team hijinks.
Episode 420: Norris Gold.
If there is one thing religion has taught me: living in the desert will bake your brain
When the people saw that Moses had passed away 2,000 years ago, they gathered around themselves and said, "come, make us gods who will go before us." And they put other people's pennies together, and made them into an idol in the shape of a great bull, and set the bull in a park on Wall Street".
Watch it cause a short squeeze in the comdex which causes a spike and subsequent buying frenzy by India, China, and Russia. Who at their next meeting decide to make a gold backed swift alternative, to which Saudi Arabia then joins...
Some banker
yea, er, how did all these 'freed slaves' have gold earrings and necklaces etc - enough to make a friggin statue
something tells me that old narrative of jewish history accumulated some 'embellishments'
If you ever bothered actually reading it, you'd have your answer.
Egh, I think we all know it'll be Texas that starts the revolution anyways.
That's because Texas is worth fightin' over.
God bless Texas each and every day...Please.
"Hey - I didn't write the Old Testament, jews did."
And there was a lot of plagarism. According to modern law, the Old Testament would be taken off the shelves by the publishers, and every copy burned, with numerous apologies in trade rags and the MSM.
But I digress.
“I look at gold as just another currency that they can’t print any more of.”
That's a fact, Jack! Real money!
They had better hurry on building that Texas Bullion Supository...........not much time left
Globalization & Global Warming will lead to many many bad things, and let me tell you straight the hell up, people will cough up ALL OF THEIR GOLD for resources like Food & Water, of that you can rest 100% assured...
The war on Food & Water has already begun, in case you've been missing the report(s) on global warming & droughts everywhere you turn...
(Also the Bees are dying mass, sea creatures & fish are dying large quantities too...)
You are 100% correct except for the reference to global warming and otherwise in agreement with the Bible.
I drove out to Modesto, California from Texas last week to see for myself what was going on with the drought. I was hoping to be able to attract some good productive farmers to East Texas where we have cheap land, abundant sunshine, and plenty of water. We have bees. I am one of the hobby beekeepers dedicated to maintaining and increasing the honeybee population. Our beekeepers association has outgrown our meeting place. We will be able to produce good food after some of the best irrigated farmland turns to desert.
Y'all come.
I'm not a farmer these days, but is love to do something along the lines of what you are, and east Texas sounds like a great place to live and hide (I'm in DFW at the moment).
TX got enough rain in May to cover the state more than 8 inches deep. Enough water to supply CA, industry, and ag, and all, for 3 YEARS!. All in a month.
Of course our lakes can only hold so much of it, so most of it will wash Roundup, fertilizer, topsoil, and raw sewage into the Gulf.
As this indicates precious metals are more likely to replace a portion of the bond market as the preferred safe asset than as the medium of exchange. That's why I'm investing in gold and silver, because the other safe haven asset is a farce and a Ponzi scheme, not because I think its going to be remonetized. On the off chance it is remonetized, it will replace both the medium of exchange as well as part of the bond market, win win.
The ivory tower folks at the Fed may think they are the smartest in the room, but Kyle Bass is the real deal.
Filed under: How to get your state on the JH15 Neo Bolshevik hit list.
Interesting that Texas got pummeled by the worst storms in recorded history just before JH takes place. Nothing like softening up the 'enemy' before they're invaded. Only in a drill, of course.
How come all the worst shit happens when .gov drills are taking place? I should consult an astrologist... must be the stars.
I would posit to you that people who are entirely too credulous and given to hyperbole while see conspiracies around every. single. corner. are actually aiding the enemy.
Aiding the enemy, or making a fool of themselves?
The first implies there is an "enemy" that is being strengthened, and I'd like to know what that enemy is.
If you say "ignorance", I agree. People who are complete "tin hatters" tend to reduce the credibility of everyone else in the community who can think critically.
That isn't to say that the truth isn't nigh bat-shit unbelievable at this point, but I would like to point out that just because the world has gone completely mad, it doesn't mean the government is going to use alien technology to flouridate the water until our brains turn to mush, to get sucked out by Crazy Clowns from Outer Space with silly straws.
There's crazy, and then there's absurd.
Not sure if JH is anything to be concerned about, and certainly don't believe the government is controlling the weather. That said, the US govt has done things that if someone were to have brought them up at the time would have been called an conspiracy theory, think about the Lusitania. There are many things that would have be thought of as crazy at the time that are now indisputable, and those are only the things we know about. I feel that we have been conditioned to label things conspiracy theories to blow them off. It is only prudent to look at what the facts are, history, as well current conditions and make educated guesses as to how the govt will react. We all make plans and try to make them come to fruition, often without telling anyone. Why would we think the powers that be, who are more likely to have sociopathic tendencies, would be any different.
Anybody who thinks Texans got "softened up" by a month of rain is in for a shock.
Kyle Bass is a smart gambler for sure but gold and silver are still commodities and will only rise when government confidence collapses in the US......PM still have a bit of a ways to fall before they will rise again. This whole notion of backing currencies doesn't work either because if confidence falls and people start redeeming then the cycle just becomes a runaway freight train (see Bretton Woods). Dollar is the least worst currency right now so until that goes in the toilet, gold will not be in a bull market.
<<"So that the Texas economy can thrive in a systematic dislocation in the national financial system." Go Texas!>>
I notice they keep the door open for other collateral as well. This to me is more evidence of asset-backed (collateral-backed) currency on the way. Good for Texas being so wide awake.
AND -- I can't help noticing that this doesn't sound like bad news for the secession movement, either...
Between their supervision of Jade Helm activities and this bullion depository, you can accuse Texas of a lot of things but lack of spine ain't one of them. They don't seem that good at rolling over to the big bad feds. Respect.
Too bad the entry of Texas into the United States was never ratified. Oh, wait...
Perry is a moron. People like some of the things he says because he says shit REAL Texans want to hear. However, the state is being over-run by ... folks not cut of the same cloth ... and it is rapidly averaging down urban areas. If these locusts didn't destroy their "homes", they wouldn't be moving to Texas looking for another meal.
That said, it is a generalization, but it is also generally true.
One of the reasons I left.
Regards,
Cooter
Don't lump everyone in that's moving here, I personally know many people who moved here to help strengthen Texas and thier traditional values. I think the good ones moving here are outweighing the bad ones. Either way there is a shit ton of amazing natural born Texans and new hard core Texans moving here every day.
I wouldn't put chips on the balance being in-line with traditional Texas values. There are droves of folks from Kali, Illinois, New Yawk, and so on that are fleeing their high tax progressive governments and choose Texas for the strong property rights and low taxes. Unfortunately they often haven't connected the dots and bring their political dogma with them.
But, it is noted that 100% of everyone isn't a carpetbagger ... thus my comment in my OP:
Regads,
Cooter
I understand, I lived in CALI for 10 years (originally from WI - I know big difference that those born in cali), I know 9 others who are my age (mid-thirties) who moved here from cali and are so right-wing it's amazing.....plenty of good ones moving here, not to mention all the other conservatives moving here from all the other states. It ain't over yet.
I can't blame you for leaving it's getting too crowded - I'm hoping to move in the middle of nowhere Texas, have an offer on 10 acres
On another note there are plenty of Texas libs moving to cali so there is a tradeoff - talked to a libtard couple from TX who can't wait to get to cali
Tell 'em the bullet train awaits their arrival!
Oh, and bring a case of water, too.
Texas should enact STRONG laws now that can't be reversed (like state constitutional laws) to prevent it's culture from being changed....or I fear in 20+ years CC will be right and it will be a watered down Texas, eyeballing a left turn....
I wish Californians moving here would stop overpaying for houses and driving up property taxes for the rest of us.
Where the hell did you go?? From the pan into the fire....
I remember a story that broke right after Perry was elected. Allegedly, his wife walked in on him giving head to his aide. Story did not stay in the news long, suddenly pulled...
Where's the link?
not saying its for real, but here are some links:
http://www.opednews.com/thoreau022704_texas_governor.htm
http://gawker.com/5868489/all-your-rick-perry-gay-sex-rumors-collected-i...
http://www.infowars.com/infowars-tv-interviews-rick-perry-sex-scandal-ac...
again not saying its real.
Come to think of it, those thigh high lace cowboy boots held up with suspenders are kinda gay after all.
Soros much?
Male or female?
Because he's a fucking moron. He would be a bitch for the real PTB just like any president (is)/would.
Texas is massively overrun, especially san antonio.
Fuck you jillson
RE: Not sure why more people are not a big fan of his.
How about, he forced teenage girls to take the gardisal shot and said it was Texas Law when there was no such law and he has attended past Bilderberg Meetings; really do you need to know more?
That doesn't rhyme.....
All States can coin their own Currency but it must be in Gold or Silver. Fed can outlaw cash and the States will bring it back and people will flock to those States to conduct business. There are very few State Chartered Banks today but the legal framework is there as well.
I've been urging my SC statehouse reps to make plans for a real currency. I'm not going down with the Fedcoat ship, and you are spot on. States that plan ahead will do better than those that choose to believe the Feds will always be in control. They won't. They are spending money that isnt theirs.
If they don't have sense to do it w/o you telling them, do you truly think they can lead the people later? Most of the states lead by the same corrupt people have put the states in dire financial position where the pensions will bankrupt them.
Gov't isn't the solution w/o serious reform as they're all from the same tree producing rotten fruit.
Didn't Utah begin to make contingencies for this a few years back, as well?
has less to do with mistrust of New York (although correct, we don't trust those yankee sunsabitches) and more to do with mistrust of the money laundering pirates at HSBC...
Except for the additional bureaucracy, sounds like a no brainer....
First, PM storage vaults, next, secession, then Lone Star bucks. Piss off Ivy Leaguers. Time to resubscribe to Texas Monthly and go load up on property. Just in case, just sayin'.
Jade Helm will fix it
I hear the food @ the FEMA camps is better than Jean-Georges!
I wouldn't trust Rick Perry with my gold either.
Wow, a whole BILLION. And to think, Warren Buffet and Bill Gates are worth over 70 Billion each......
it's very large amount of gold, because you can't buy gold with paper money right now, they will not sell it.
Divide By Zero.
If I remember correctly, any gold number divided by zero, i.e., a worthless fat fiat paper zero = INFINITY!
Therefore, 70 billion fiats ain't much.
Clever, Brocily.
>>> And to think, Warren Buffet and Bill Gates are worth over 70 Billion each......
Only in paper gold; not in metal gold.
Hmmm.
A billion in physical Gold, or
paper IOUs currently worth 70 billion?
Think, think, think. . . .
Speaking of which, how much physical gold do you think Bill Gates could actually aquire if he started dumping MSFT stock for bullion before the price collapsed?
I've had a few beers, so my math may be off.
I've included my calculations so you can check.
$79.3 billion net worth
666,947,014 Troy @ $1188
32,151 Troy per tonne
20,744.2 tonnes.
That's a LOT of shiny!
Baby steps.
We had to pass open carry too.
They go together.
Have they begun work on the five new Senatorial seats yet???
Billionaires were a dime a dozen in Zimbabwe.
a billion in bullion is different 5han a billion in paper federal reserve notes.
One is a real billion and one is a tneory
Texas has America's 2nd & 4th largest sovereign wealth funds...maybe this is the start of something else?
http://www.swfinstitute.org/fund-rankings/
A wearhouse is empty, until proven full.
1st nun, in the dormitory:' "Where's the candle?"
2nd nun: "Yes it does rather, doesn't it"
I would suggest they start on an Ark asap, should this pass.
Under normal circumstances, gold goes nice with jade.
HSBC has their gold?
Good luck collecting from those crooked fuckers...
More likely to find an A-rab at a barmitzvah than gold bars in that vault.
HSBC has lead, tungsten and paper.
HSBC can't be trusted...hopefully they'll have all the bars melted down and recast before putting them into storage.
I hear their buds, the drug lords, trust them.
Good luck with finding that gold at the HSBC
http://www.hangthebankers.com/wp-content/uploads/2012/11/Empty-Gold-Vaul...
The new Alamo for the Fed to rob?
If they recover their 1 billion $ sack of gold.
Hey, loving man, you've been called.
Easy Ike...
You fool, Wyatt, there is no normal life. There is only life.
1st step on the way to FREEDOM from TYRANNY
I would just like to have freedom from the TRANNY. Enough with the Caitlyn Jenner shit already.....
When the freakshow gets more attention than what's going on in the big top, you know you are at the wrong circus.
Great idea..and time will prove this out....countries are coming around too....the safe haven of yesterday is the ponzi of today...
Jade Helm and gold repository purely coincidental.
/sarc
The yellow gold of Texas
Is stored by HSBC
No one can ever see it
It's gone as gone can be.
You can talk about your 'safety' or sing of 'carbon-free',
But the yellow gold of Texas is the path to liberty.
Or the old Larry Gatlin song .. all the gold in Calfiornai .. all the gold in the USA is in the middle of a bank in London in someone else's name .......
Wonder if it'll have any windows on the sixth floor.
Build it low maintenance cost like Giza Pyramid. S/
Location is very important for security maybe on a Government Installation.
They spend $100 Million on a building, then the maintenance kills them plus admin & Security.
Loving this! Give 'em hell, Texas.
Range correct. Fire for effect.
There's gonna be trouble .....
States cannot print their own currencies but they can make "gold and silver Coin a Tender in Payment of Debts."
http://money.cnn.com/2012/02/03/pf/states_currencies/index.htm
Any town can create a script of sorts (call it Texas-bucks). If anyone is following Constitutional law, it becomes an argument about what a currency is. For everyone who thinks the rule of law has failed, Welcome to the Wild West. I'm planning on selling guns, broads, and whiskey.
I'm gonna sell armed broads drunk on whiskey and make it a package deal...
In one hand I have $70 billion federal fiats, in the other, $1 billion in gold bullion (833,333 oz. or 23 1/8 metric tonnes). Which would you rather have?
Thats easy. Give me the 70 B in fiat. Then I'd offer 2,000 bucks an ounce and buy buy buy. Physical gold would come pouring in. Then I'd have a combination of 30 million ounces of gold and tungstan. Still would aggregate far more than 833,333 0z. of Au.
Someone is asking for nailguns.
Texas better take stock of it's nuke arsenal as well as it will need it against imminent zio attack.
Put it in Brady, Texas. It is the geographical center of Texas, close to Ft Hood too. Decent highways nearby, but not too close to I-35, and a lake nearby.
Just melt the gold down and overlay Jerry World. That would be SWEEEEET!
Find a suitable building and get it the hell out of the hands of HSBC ASAP. Then concentrate on building the Depositiory DO NOT WAIT until you build it by that time the whole effing thing will be Kaput.
Gold down.
States could Earn Money....
what a strange win win concept..,
although I prefer the Prevent Theft.. Win.
Queue dirty nuke in Texas in, 3...2...1
The real opportunity is to take a territory within the US, declare it a nation state, form a currency backed by hard assets, and stimulate massive investment/savings inflows by allowing market forces to rediscover the yield curve. Call it Switzerland plus oil/timber/water/mineral/agricultural wealth.
AND, people wealth.
I see TX as an independent nation if they keep up this kind of common sense.
They won't let that happen. Expect a nuclear strike before that ever happens. They can blame ISIS and ultimately the failure to re-up the anti-Bill of Rights (Patriot Act)
HAIL OBAMA, MESSIAH OBAMA
Referenda are springing up all over, the world is becoming acclimated to that planted seed. Besides, the world can't be brainwashed much longer that some skinny charlatan racist named Abe has set precedent forever.
Buy stock in Rand McNally, the maps are-a-changin'.
Obama, the DNC, the RINO RNC, The Chamber of Capital Cronyism, and the NY Banking cartel will not be happy. HARP is about to go into overdrive.
Sorry to butt in on your excellent post, but it's actually HAARP in case someone wants to research it, highly recommended.
What if the gold isn't there? We may,yet, see our dreams of bankers swinging from lamp posts be fulfilled!
Don't tread on me or my gold - bitchez!
Good Luck. So much paper. So little physical. Do we make it until end of the year BEFORE the truth is finally exposed ????
That's Plum Crazy leaving valuables with THIEVES.
A different take for those of us that know that the neocons are still in power and running things, and their home base is Texas.
Liberty is a demand. Tyranny is submission..
If you don't hold it, you don't own it.
A state owned (Texas or wherever) bullion depository is probably not the safest place in the world to store gold.
When they get the gold into Texas, THAT will make a difference. As long as it's in a vault in Manhattan, nothing has really changed.
Repatriate (verb): To get a fraction of your bullion back (years down the road).
Heh, heh... Don't act surprised when armed "banditos" intercept the wagon train en transit and "repatriate" the gold to the country it was originally stolen from! Ah, ha!
The COMEX/HSBC swine will settle in cash. Then the shit hits the fan. Finally.
No wonder troops are massed in Texas. The Southwest is going to be false flagged.
That is the Republic of Texas to you sir.
I remember when that UofT gold story hit the presses; smart move.
But they didn't take physical delivery then??? dumb move.
Banksters are laughing their asses off.
jade helm - hostile
I think some one is about to secede...
You mean succeed?
The only way for Texas to get those bars back is to ask China!
Let me edit something here....
$1 billion in gold bars that are owned by UTIMCO and are now housed at HSBC in New York.
$1 billion in gold bars that are owned by UTIMCO, who would like to believe, are now housed at HSBC in New York.
HSBC - born out of the opium wars - laundering drug money since it came into existence and continuing to this day.
Nobody, in their right mind, would believe anything the guys at HSBC would say in public.
"Hey Mr Bass. Anymore of this gold nonsense and you'll get a visit from Ms. Jade Helm."
The South shall rise again!
https://www.youtube.com/watch?v=McIxMlOXbS0
It will be fine. They will build the depository in Texas, and then they will hire an Israeli firm to handle security, like they do for USA nuke plants.
The Israelis handled the security at Fukushima, too. And certainly wasn't the only site.
Goddamit, I bought 10.000 dollars worth of gold two years ago and buried it in a coffee can somewhere on 20 acres... and now I can't remember where the shit is.
Oh well, phuckit. At least nobody's sticking it to me with storage fees.
GPS is our friend.