A few years back the Texas university system made headlines by making huge investments in gold, not shares in gold-backed ETF’s or mining companies, but actual gold, a billion dollars worth of it, in fact.
That gold, which is under the ownership of the Texas Investment Management Company, is currently stored in New York. While many people believe that like Germany, Texas’ gold is held below the New York Federal Reserve Bank, in reality the gold is stored with a private bank, HSBC, one of the largest banks in the world.
The Coin Analyst: Texas Wants Its Gold Back, but to What End? | CoinWeek
That gold, which is under the ownership of the Texas Investment Management Company, is currently stored in New York. While many people believe that like Germany, Texas’ gold is held below the New York Federal Reserve Bank, in reality the gold is stored with a private bank, HSBC, one of the largest banks in the world.
The Coin Analyst: Texas Wants Its Gold Back, but to What End? | CoinWeek
