because this guy is on their board of directors at the universities investment managament co. just incase people didnt know about him http://www.youtube.com/watch?v=bCYIBf4_GMw
Shame... Subject is incorrect. It's the university, not the state. Second, they did not take physical delivery and drive it back to Texas...
What a great name you have. It's not atypical to refer to universities as Texas, Georgia, Florida. Additionally the fact that the op states "their board of directors at the universities investment managament co" Is a clear indication he and any readers SHOULD now he's referring to the University of Texas. And.....who says anything about physical delivery? SMH If I were you, I'd edit my post, but by all means do NOT change your name, ok gimpy?
They supposedly did arrange for "physical delivery" in the sense that the gold is held in fully allocated accounts.
Bloomberg: "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."
I don't believe it, a University has made a sound business/investment decision on buyimg Gold! Full Marks!, I bet all the academic econimists who dribble their rubbish from other Universities have put Texas Uni. on the outer over this!......(as you can see my spelling is not the best, I left school at 14 but I can stack gold!)
I remember hearing they took physical delivery, also this Kyle Bass guy says thats the way to go. I bet he had a huge influence on their decision to buy the gold. He accurately predicted the subprime housing crisis in the states and made more than a billion $ in shorting it and he also agrees with gys like Peter Schiff that the next big bubble is government bonds
Kyle Bass is a very smart man. Well worth listening to if you happen to catch him on the financial news channels. He has great insight and a gift for explaining complex issues in easy to understand terms.
