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uh-oh, they're starting to wise up

derrybderryb Posts: 38,551 ✭✭✭✭✭
in Precious Metals
"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."

University of Texas Takes Delivery Of $1 Billion In Physical Gold

Velocity, Not Valuation Defines A Bubble.

Comments

  • HonoluluDudeHonoluluDude Posts: 2,167 ✭
    Pierre Lasonde chimes in.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    So, my being stupid, what does this mean?
  • jmski52jmski52 Posts: 23,953 ✭✭✭✭✭
    I take it to mean that we are just finishing our trek out of the foothills, to the base of the mountain.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JoesMaNameJoesMaName Posts: 1,071 ✭✭✭
    Gee, wonder why they didn't just go with the ever so convenient ETF rout? image

    ...
  • KUCHKUCH Posts: 1,186
    Gee, any fake bars in there? Will the Board make a trip to New York every year? You know, just to make sure the bars are in the vault.image
  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    It means UT figured out that securities now are fluff, and the dollar's going into the tank.

    Hook 'em Horns!

    Here's a warning parable for coin collectors...



  • stuckonnightsstuckonnights Posts: 26
    Gee, wonder why they didn't just go with the ever so convenient ETF rout?

    Physical holdings are worth more when sold, typically.
  • roadrunnerroadrunner Posts: 28,371 ✭✭✭✭✭
    I hope that is allocated gold that is ear-marked for UT. If it's a Comex, Fed, or JPM bank you can be assured the gold will be leased out. Best for them if they chose a private
    vault company. They couldn't find a vault in Texas?

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • JoesMaNameJoesMaName Posts: 1,071 ✭✭✭


    << <i>...They couldn't find a vault in Texas? >>



    I had the same thought

    ...
  • hammered54hammered54 Posts: 755 ✭✭✭
    if they have that kind of money they should build there own vault.
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  • jmski52jmski52 Posts: 23,953 ✭✭✭✭✭
    I hope that is allocated gold that is ear-marked for UT. If it's a Comex, Fed, or JPM bank you can be assured the gold will be leased out.

    I have to think that if they are the kind of guys who would take delivery of $1 Billion in gold, that they wouldn't stand for it being in a pooled type of account, especially at Comex or JPM.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • FrankiefanaticFrankiefanatic Posts: 325


    << <i>I hope that is allocated gold that is ear-marked for UT. If it's a Comex, Fed, or JPM bank you can be assured the gold will be leased out. Best for them if they chose a private
    vault company. They couldn't find a vault in Texas?

    roadrunner >>



    one is being constructed as we speak.

  • CaptHenwayCaptHenway Posts: 33,788 ✭✭✭✭✭
    ttt
    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
  • JoesMaNameJoesMaName Posts: 1,071 ✭✭✭


    << <i>

    << <i>I hope that is allocated gold that is ear-marked for UT. If it's a Comex, Fed, or JPM bank you can be assured the gold will be leased out. Best for them if they chose a private
    vault company. They couldn't find a vault in Texas?

    roadrunner >>



    one is being constructed as we speak. >>



    That must really irritate the smoke and mirror crowd, still better check for tungsten...

    ...
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