The Ultimate Call: Will Federal Reserve Be Caught Without Gold in ‘Repatriation Rush’?
Mac Slavo
June 3rd, 2015
SHTFplan.com
Gold accumulation is happening at a very astounding rate – and the repatriation of gold by foreign nations, and now states, is setting a tense deadline for the most massive currency war ever seen on a global scale.
A game of musical chairs has begun, and someone will be left standing when the music stops.
Texas has just taken it up a notch, with a high profile move to keep its gold holdings at home for safe keeping and strong collateral. The state legislature is making moves to allow housing the more than $1 billion investment in bullion gold by UTIMCO (the University of Texas Investment Management Company, whose directors are appointed to represent multiple university systems and other assets.
Texas — long known for cattle, cowboys and oil — could soon be on the map for something much different.
Gold.
State Rep. Giovanni Capriglione asked the Legislature to create a Texas Bullion Depository, where Texas could store its gold, which is now in New York, and where others could keep their precious metals.
[…]
The goal is to create a secure facility that would allow the state to bring home more than $1 billion in gold bars that are owned by the University of Texas Investment Management Co. and are now housed at the Hong Kong and Shanghai Bank in New York. (source)
Texas is just latest in a serious move back towards gold and other “solid” investments. But symbolically, it signals a shift away from the old line establishment, and a loss of confidence in the fiat petrodollar pumped out by a declining empire.
China’s currency has just been reevaluated for entry into global reserve currency status, signaling enormous changes for the once all-powerful U.S. petrodollar. With China’s rise, it has been stockpiling gold at perhaps the fastest rate ever observed.
Theoretically, China’s gold reserves are swiftly approaching par with the U.S. gold reserves, held by the Federal Reserve.
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