Texas getting gold crazy!

So, the goldbugs must have gone orgasmic as Texas decided to make its own gold depository in their state so that they can repatriate the gold held in that nasty Yankee vault in New York where it can get stolen like happened in that Die Hard movie.

Thing is:

Quote:

This is why, if you were suspicious about Gov. Abbott’s claim that “the [depository] law will repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas,” you were on to something. Indeed, Texas has no gold bars in the Federal Reserve’s New York vault. And what the state has is not worth a billion dollars. Instead some 4,200 gold bars bought in 2011 by the University of Texas’s endowment fund (the second largest in the country after Harvard’s) are stored in the basement vault of HSBC’s headquarters at 450 5th Avenue in New York City, just south of the New York Public Library. For the last four years, the endowment has paid an estimated $1 million per year to store their gold there. (If it had been at the New York Fed the cost would have totaled about $15,400 over that period)

The article is just full of 'wha...?' moments. It gives Texan Jade Helm crazy a nice loony cousin to play with.

via International Skeptics Forum http://ift.tt/1Fl6R8a