Nope, Texas not looking to secede at all - Galt's Gulch

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Nope, Texas not looking to secede at all

Posted by ogr8bearded1 11 years, 1 month ago to Economics

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First countries started wanting their gold back from the US Federal Reserve, now Texas wants theirs back also.

SOURCE URL: http://news.yahoo.com/why-texas-wants-gold-back-federal-141500293.html

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Posted by LionelHutz 11 years ago

I'm surprised Texas ever had $1B worth of gold to begin with, and even MORE surprised that at some point in the past they said...let's just let the Federal Reserve watch that stuff!

There's got to be an interesting story here. Did this come about during the Roosevelt confiscation?

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  Posted by LionelHutz 11 years ago
  
  OK - I get it now, and I don't.
  
  This isn't exactly "Texas" that's got the gold - it's the university. And this is recent - not from the pre-statehood era.
  
  But according to this:
  http://www.forbes.com/sites/robertlenzne...
  ...the gold was being stored in a private vault as recently as 2011. When did the federal reserve become involved?
  
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    Posted by ogr8bearded1 11 years ago
    
    Your article just says it is held in a New York bank vault owned by HSBC Holdings. The Federal Reserve leases out vaults to banks and even other countries. That is also where Germany's gold is supposedly kept, though they won't let them see or audit it and say it will take 7 years to ship it back.
    
    The University of Texas and Texas A&M are state universities, founded and operated by the State of Texas.
    
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