4.18.2011

The University Of Texas Just Took Possession Of 6,643 Gold Bars?


I'm not sure I understand this, but I think it's because a guy who made half a billion dollars on credit default swaps in the mortgage meltdown told them to. His reasoning (I think): If everyone who owns gold on paper actually asked to have that gold delivered, there would be a huge run and there wouldn't be enough gold to go around. So UT better get while the getting's good. The value of the Evil Empire's gold bars is almost $1 billion.

As the value of the metal reached an all time high today of $1,489 an ounce, something feels very apocalyptic about this.

9 comments:

Anonymous said...

Where are they going to store them?

How about in the trophy case they built for last year's NCAA football championship.

Anonymous said...

ags have a bunch of lead bars i hear

Anonymous said...

I have a hard time understnding why a state owned entity accumulates this much wealth, continues to drive up education costs for Texans, and seeks to admit more than a quarter of its student body from out of state while rejecting some of the top 10%ers.

Ever since UT lobbied for, and won, deregulation for tax payer funded education systems, our costs have gone through the roof. UT has so many people that are so in love with the football team, they don't even realize how incredibly obstructionist these policies in fact are for the citizens of this state to become educated beyond high school. Every other school in the state will always follow the lead of a competing institution to raise tuition and fees.

When will UT have enough of YOUR money? When does all of this wealth turn into making education more accessible to the residents and citizens of Texas? This is government within a government. UT is out of control, with A&M, Tech, UNT, and Houston to follow....

Anonymous said...

I sure would like to see his tax return. I wonder if the 1/2 billion dollars are on it?

Anonymous said...

New Dez Bryant jewelry perchance?

My Other Brother Darryl

The Donald said...

Bring back Bretton Woods.

- Mrs. Woods

Anonymous said...

Speaking of schools out of control, what ever became of the Title IX charges filed a few years ago against Alord ISD? No final report has ever shown up in the paper has it? Was everything dropped or were the charges against the school found to be in the school's favor? Wasn't that about three years ago? Anyone know?

Kimberly said...

I think UT getting to make a profit from investments is great. Several colleges use the faculty and students to manage funds as a way to teach, learn, and profit. It does not however, make any sense to me to take delivery of gold bars? Storage and transportation fee's alone would cut into the profit. If they are trying to create a shortage that would be manipulation of the markets. I think the Hunt brothers tried that once.

Anonymous said...

7:40 I guess the verdict went in favor of the school. No one seems to know any different. Evidently there were no violations.