Because of the popularity of this post, we decided to run it through the weekend. Evidently Americans are taking notice that all is not well. With Greece on the brink of economic collapse and nations preparing for war, gold and silver are still available below production costs. Unbelievable opportunity!
Gold is down slightly in Friday morning trading and is holding last reported a.m. at $1171.10 with silver at $16.19
Gold prices are down today as profit takers cash in on previous days gains. Gold last reported Wednesday p.m. is $1183.50 and silver is $16.50.
The Great State of Texas is indeed looking to repatriate its gold holdings from HSBC currently being stored in New York. The total amount being held is around $1 billion. Texas may be the first state in the U.S. to possibly repatriate its gold but its following a long line of foreign countries who have been carrying out the same task over the past several years. Germany began the continuing trend in 2013.
On Monday the Texas legislature passed the bill introduced by Giovanni Capriglione to set up a depository in Texas. The bill is now being passed along to Governor Greg Abbott for consideration. House Bill 483 would allow the state’s comptroller’s office to establish a bullion depository. The articles add that the plan is to repatriate the University of Texas Investment Management Company’s gold holdings, which are worth about $1 billion.
In an interview with the Forth Worth Star-Telegram, Capriglione envisions that other investors will take advantage of Texas’ potential gold storage infrastructure.
“We are not talking Fort Knox. But when I first announced this, I got so many emails and phone calls from people literally all over the world who said they want to store their gold … in a Texas depository.
“This will allow for bullion to be deposited here, as well as any other investments that … any state agencies, businesses or individuals have,” he added, describing his proposed legislation. Capriglione also stated that the creation of a state depository will also save tax payers money as Texas pays about $1 million in fees to store its gold in New York.
There’s no better time than now to begin the process of protecting our assets. With countries repatriating gold and JP Morgan purchasing enough silver to possibly corner the silver market, we should give serious consideration to their motives. Why aren’t they just buying paper assets like stocks or investing in the “unsinkable” U.S. dollar?
Gold Goliath offers gold and silver bullion, semi-numismatics along with proof and collector coins at competitive pricing. Let’s begin the process of protecting our assets while they are still, ours.
Give us a call to speak with our sales staff and get the ball rolling. Did you know you can own real physical gold and silver coins and bars in your IRA or other qualified retirement account? It’s a simple process that takes about 30 days to finalize. 1-800-577-3195
Gold Goliath is not your typical gold dealer.