A long-awaited gold depository in Texas remains in limbo

Discussion of the Gold portion of the Permanent Portfolio

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ochotona
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A long-awaited gold depository in Texas remains in limbo

Post by ochotona » Sat Feb 11, 2017 8:49 am

Plans to create a gold depository in Texas are moving slower than anticipated.

State officials originally planned to announce the winning proposal to create a Texas Bullion Depository last year and hoped to have work on it under way by Dec. 1 (2016).

Now, more than two months after the original deadline, which officials say was never set in stone, there’s still no news yet on where a depository will be located — or who will build and run it.

“Our team is working to get this done as soon as possible,” said Chris Bryan, a spokesman with the Texas Comptroller’s Office. “They are committed to providing Texans with a secure gold bullion depository.

http://www.star-telegram.com/news/polit ... 14079.html
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ochotona
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Re: A long-awaited gold depository in Texas remains in limbo

Post by ochotona » Sat Feb 11, 2017 3:55 pm

Today I started using the safe deposit services at Chappell Hill Bank (Texas), 67 miles from Downtown Houston, and a world away it seems. It's on the national register of historic places. They even gave me a passbook for my savings account! Of course, it has no utility, but still... I hadn't seen one of those in fourty years. And they allow concealed carry into the bank, and they say so on the front door. I have some confidence that if orders like FDR Executive Order 6102 were to be issued someday, they'd let me in to clean out my box. They are very nice people.

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Re: A long-awaited gold depository in Texas remains in limbo

Post by dualstow » Sat Feb 11, 2017 6:16 pm

A world away indeed.That car...
Is that the newest Mini Cooper?
Sam Bankman-Fried sentenced to 25 years
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Re: A long-awaited gold depository in Texas remains in limbo

Post by ochotona » Sat Feb 11, 2017 8:05 pm

Tesla concept car.
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Re: A long-awaited gold depository in Texas remains in limbo

Post by ochotona » Wed Jun 14, 2017 5:23 pm

This morning, Comptroller Glenn Hegar announced that the state of Texas selected Lonestar Tangible Assets as the vendor for the construction and operation of the Texas Bullion Depository.

I think we are just in the beginning phases of learning what the facility, terms, and conditions would be like. It will take years to unfold. I'll post more as I learn more.
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