Report: University of Texas System Makes $1 Billion Bet on Gold
- Posted on April 18, 2011 at 11:45pm by
Scott Baker
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KRIV reports out of Houston that Glenn isn’t the only person betting on gold.
According to the Fox affiliate:
The Texas Longhorns have been known to take some big gambles on the gridiron, but rarely have those who handle the UT systems $20-billion savings account made a more attention-grabbing wager:
A $1-billion buy of pure gold bullion, more than 41,000 pounds of the precious metal stored safely in a New York City vault. The giant purchase raised more than a few eyebrows in the financial community.
“This is just a bet on the value of a dollar decline and a rise in gold prices for them. Their job is to make money for their endowment. That’s what they do,” said Lance Roberts of Streettalk Advisors.
Roberts said considering the credit downgrade of U.S. Government debt, the UT system purchase, even at more than $1,400 an ounce, may prove both prudent and profitable.
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Comments (62)
PaBowHunter
Posted on April 19, 2011 at 6:47pmAny American who has any common sense will have a supply of common needs to survive if the government were to falter. Example: Weaponry, ammo, food and water. But even more importantly you must possess the skills needed to employ these devices…the skills to survive. Like the ability to hunt, kill and process your own animals. Very important. The ability to grow your own veggies. Equally important.
Report Post »Remember, those who rely on the government to survive will come looking for food, water and shelter once McDonald’s is closed and the welfare checks cease to come. And they may not be very civil when you tell them to go pound salt.
BIGGUNS
Posted on April 19, 2011 at 1:02pmToday at 12:00pm Gold is at 1496.34 an oz .
Report Post »BIGGUNS
Posted on April 19, 2011 at 12:41pmBuy Gold because the dollar is going down!
Report Post »jjoy
Posted on April 19, 2011 at 4:53pmactually, the dollar is going down like the Titanic…
Report Post »Susan Harkins
Posted on April 19, 2011 at 11:30amThat investment is a no-brainer. And the only reason why they are doing it, is because they are not as “liberal” as most universities — their higher education is not devoid of common sense, typically.
Report Post »Pyx
Posted on April 19, 2011 at 10:54amIt would seem that some here continue to fantasize about Mad Max scenarios and being the thugs who rob and murder others for food and gold.
Y‘all gotta get out of yer momma’s basement more.
Report Post »Nick Pable with Buckshot
Posted on April 19, 2011 at 11:22amNow I’m confused. Is Saviorammo up a glacier with a tomahawk or in his momma’s basement. Clarify please.
Report Post »TEXASQUINN
Posted on April 19, 2011 at 9:43am2 years ego the “elite” economists at harvard lost $500 million betting on interest rate hikes. VIVA TEXAS!
Report Post »turkey13
Posted on April 19, 2011 at 9:42amI just can’t understand why they covered their investers so well and then stored in in nycity vault. I mean nyc is ground 0. If nyc is gone how will they get to there gold? This the muslim brotherhoods play ground!
Report Post »jjoy
Posted on April 19, 2011 at 4:50pmYou are right, turkey… As long as schumer is around, nothing is safe in new york…
Report Post »joey g
Posted on April 19, 2011 at 9:09ambeck was right….
Report Post »chdorb
Posted on April 19, 2011 at 7:27amWouldn’t it have been more prudent to purchase when it was under a grand an ounce?
Report Post »benrush
Posted on April 19, 2011 at 7:07amThe DOLLAR is already crashing. The bandits have looted the treasury through a device known as printing away the value, and the fractional reserve system. Look at the downfall of America under the hand of progressivism and teach your children well.
Report Post »jjoy
Posted on April 19, 2011 at 5:06pmYep… The Chinese have stopped buying our debt, so our president has ordered the FED to buy our own debt… and, in order to do so, they have printed trillions of worthless paper dollars… It’s not that oil and food prices are going up, just that the value of the dollar is dropping like a rock…
Report Post »BetsyRoss1
Posted on April 19, 2011 at 6:46amGo Texas!
Report Post »Libby Tarian
Posted on April 19, 2011 at 6:44amBanJarMon – don’t buy gold. I bought gold when it was very low in the 90′s. My grandparents had been through the depression and advised us to keep gold and silver, I am glad I did. It is still a free country and people can choose to buy gold or not.
Report Post »mrmikejohnson
Posted on April 19, 2011 at 4:47amThis is probably smart. Colleges are losing bundles of money. My college said it lost 1/3 of it’s endowment during the depression.
Report Post »Paulhgreenbay
Posted on April 19, 2011 at 4:45amGeez…When the world says the U.S. are spendthrifts with worthless currency you would think the dolts in the msm would catch on. Oh that’s right, can’t happen here.
Report Post »Workforit
Posted on April 19, 2011 at 2:16amGood for them! It’s proof that you actually can do something smart with 4 year art history degree!
Report Post »txn4justice
Posted on April 19, 2011 at 2:31amGood one!
Report Post »Sam Brown
Posted on April 19, 2011 at 1:24amYou don’t want to know what happens after that.
sam
Report Post »Sam Brown
Posted on April 19, 2011 at 1:02amWhen they finally dump the dollar they will declare Marshal law. They will have to in order to keep the services going when nobody will accept the dollar. What you have is all you will have because nobody will take your money. Your biggest enemy will be an out of control government that steals your gold and silver for the good of the collective and your local government that steals your stocked up food.
Sammy
Report Post »ying
Posted on April 22, 2011 at 7:00amOk, then, so say that one small group of people in the world have all the gold and silver. We gang up on them, not the other way around. WE DECIDE that gold aint worth shi__, and we’re not going to give them anything for it! What now? So we say, “Sorry, bud, we don’t take gold here”. They ask what will we take. We say, “get on your knees and say the Lord’s Prayer” …. so many times. Then the Lord’s Prayer becomes the form of money. Hey, it could be beans, Mardi Gras doubloons, seashells, or a statement (prayer). If they can’t furnish, then let them eat their gold, and THEY will starve, not us!
Report Post »ying
Posted on April 22, 2011 at 7:05amAnd, to add further to my statement below, if they don’t say the prayer in the name of the Father, AND the Son, AND the Holy Spirit, then slam the door on their face and give them nothing. Again, let them eat the gold they stole, it will do them no good!
Report Post »saviorammo
Posted on April 19, 2011 at 12:36amThere are other metal, found in ******* land and in Utah, Colorado, Wyoming and Montana that are way more valuable and usefull than gold. It doesn‘t matter quantity of any of them because you won’t be able to move it and you won’t control the security who guards it.
Now if you are talking Nuclear material, very good profit in that if you can move a small amount. Like up a beanheads butt.
Clean water will be the most valuable commodity of all when the preverbial shiate hits the fan. I am on a glacier at 11, 200ft. Party time for me. High ground, lots of old mines and plenty of neighbors who loaded to the teeth and don‘t like those that can’t carry the own water, so to speak.
Though there is tech to destroy ammo, keep it underground if possible. Be trained in old warfare. Bows, knives, swords, tomahawk (my favorite), and traps. Have plenty of boom boom if possible.
Most important. Train your mind for any and all situations, especially FUBAR. If you don’t know what that means, can’t help you.
Stay frosty folks, now we gonna have some fun.
Barry, suck my big American Pig you traitor!
Report Post »Nick Pable with Buckshot
Posted on April 19, 2011 at 7:34amNow I’ve got a picture of you sat on a glacier with a tomahawk. Only in America.
Report Post »Apple Bite
Posted on April 19, 2011 at 12:14amHook ‘em Horns!!!
Report Post »booger71
Posted on April 18, 2011 at 11:55pmNow why exactly are they getting federal tax dollars?
Report Post »vennoye
Posted on April 18, 2011 at 11:59pmWho isn’t getting our tax dollars????????????????
Report Post »CatB
Posted on April 19, 2011 at 12:10amWho isn’t … the TAXPAYERS!
Report Post »Marcobob69
Posted on April 19, 2011 at 8:14amCATB hit the nail on the head, the TAXPAYERS are the ones NOT getting a break!!! Taxed Enough Already!!! We need a thorough house cleaning in Washington, DC!!! Time for the “old boys network” to it’s plug pulled!!!
Report Post »Exrepublisheep
Posted on April 18, 2011 at 11:52pmwow, univ of texas must be RICH! A Billion dollars…wow
Report Post »thepatriotdave
Posted on April 18, 2011 at 11:51pmQuestion… Do Universities pay Taxes?
Report Post »cheezwhiz
Posted on April 19, 2011 at 12:21amNo, but they feed on taxes even if they have a billion dollars to spare
Report Post »NuffSaid
Posted on April 19, 2011 at 1:52amYou the taxpayer can take credit for the enormous success of the public university. You pay for all of it. Why should a university spend the money it gets for free on it primary duty when it has a “promise to pay” signed by Joe Citizen? And, the guy making the donation got a tax deduction, that is, you paid for his pleasure too. Doesn’t that just make you feel smarter?
Endowment funds are separate from their custodial, grounds keeping and payroll funds. Colleges don’t make money on education. They make money by investing the donated funds. For universities, educating kids is just a front, for making real money.
Don’t look for any help from Obama in his attack on the “rich.” He’s still doing sleight of hand with the “tax the rich” story. My bet is that he knows very well how to get at those endowment funds.
Some of these funds dwarf what used to be known as a small bank. Heck some of these university funds, universities you’ve never even heard of, dwarf the economies of small countries.
PS Dave: You’re a real patriot. I appreciate reading your stuff.
Report Post »Darmok and Jalad at Tanagra
Posted on April 18, 2011 at 11:51pmHook em Horns may have a new meaning.
Report Post »thepatriotdave
Posted on April 18, 2011 at 11:50pmWow, I wonder who gets this account?
Something tells me they should have put that kind of money on Silver instead.
Why Col. Allen West Should be President
Report Post »http://www.AmericasTeaPartyNews.com
101
Posted on April 19, 2011 at 4:02amGreat investment, and you’re right for the small investor silver will continue to outpace gold.
Gold/silver ratio will be 10:1 by time gold hits 3K oz.
Report Post »ozchambers
Posted on April 19, 2011 at 12:14pmSilver is a good investment, but silver is also heavily tied to industry as far more of it is used for industrial purposes than for coinage or bullion. If worldwide industry takes a hit, so will silver, although the interest in it as a hedge against inflation will counter the effect to an extent.
Report Post »saviorammo
Posted on April 18, 2011 at 11:50pmAnd so it begins. Hope you all have played our in your minds the reality of what is coming.
Gold is good, but bullets are better!
Report Post »Darmok and Jalad at Tanagra
Posted on April 18, 2011 at 11:58pmAs I have always said, if everything collapse, you can hava all of the gold, but bullets will still get you food.
Report Post »Gold Coin & Economic News
Posted on April 19, 2011 at 12:02amThis news ought to bring the price up a tad.
Gold Coin & Economic News
Posted on April 19, 2011 at 12:03am@Darmok and Jalad at Tanagra – of course food storage and gardens will get you food as well. Preparing for eventualities…
Report Post »UncleBuck
Posted on April 19, 2011 at 12:05amor if you were smart your bullets would help you keep the food you have stored up…
Report Post »cheezwhiz
Posted on April 19, 2011 at 12:20amKRIV reports out of Houston that Glenn isn’t the only person betting on gold.
Report Post »——————-
Hey trollie trollie……punch in your time-cards…c’mon Sore@$$ lickers…..get on with it :D
banjarmon
Posted on April 19, 2011 at 12:31amYou can make bullets out of gold if needed..
Report Post »banjarmon
Posted on April 19, 2011 at 12:36amGold will crash someday!! No way would I buy it NOW…
Report Post »TSUNAMI-22
Posted on April 19, 2011 at 12:40am“A $1-billion buy of pure gold bullion, more than 41,000 pounds of the precious metal stored safely in a New York City vault.”
………..until NYC gets irradiated and the Gold along with it.
Report Post »cheezwhiz
Posted on April 19, 2011 at 1:16am@ TSUNAMI-22
Report Post »Hey isn’t $ 1 Bil the exact amount of money Obama wants for his campaign ?
I hope the employees of that vault have been throughly checked out …. just sayin:P
SHTFMRadio.com - Preparedness Radio Show
Posted on April 19, 2011 at 2:01am@ saviorammo
“Gold is good, but bullets are better!”
So true but do not forget the food !!!
Wildman Steve brill Interview 4-19-2011 8 PM EST – http://www.shtfmradio.com
Report Post »AzDebi
Posted on April 19, 2011 at 2:25amOFF TOPIC Again…Sorry…but I want to place this link were many of you will see it…kind of lengthy…but well worth your time!
Is George Soros a Communist Agent?
http://trevorloudon.com/2011/04/is-george-soros-a-communist-agent/
Report Post »A Doctors Labor Is Not My Right
Posted on April 19, 2011 at 2:28amSoros coordinates a run on the Treasury in 3 .. 2 … 1 …
Report Post »PA PATRIOT
Posted on April 19, 2011 at 3:13amThe 1 Billion in Gold represents less than 5 % of the University of Texas endowment package. Hardly a drop in the bucket when you really think about it. Diversity in the marketplace.
Report Post »grandmaof5
Posted on April 19, 2011 at 5:25amI think I would move my gold to TX where I could keep a good eye on it – I’d trust a cowboy and gun over a bank in NYC.
Report Post »Professional Infidel
Posted on April 19, 2011 at 9:15amBeen there since 2001
Report Post »king1
Posted on April 19, 2011 at 1:10pmhow about food and bullet so when darmok tries to take we can defend ourselfs and then cook him
Report Post »THREE LEFTS
Posted on April 19, 2011 at 2:32pmamen!
Report Post »ying
Posted on April 22, 2011 at 6:50amGold isn‘t any good at all if the CONSUMERS decide it isn’t! I’ll sell you 1 egg-laying chicken for a handful of beans. The gold isn’t really going to do me much good, because the guy next door will sell me his engine for 20 handfuls of beans, so I need to sell nineteen more chickens, but they eat grain, not gold. I’m not going to buy the gold at the time that shtf, so the people with all the gold might just be stuck having to eat it since nobody is going to give them any of their stash for it. Good luck to them, I hope they can chew it. WE DECIDE, not them!
Report Post »