Tarrant lawmaker seeks to create Texas Bullion Depository

“Call it the Rick Perry gold rush: The governor wants to bring the state’s gold reserves back from a New York vault to Texas.  And he may have legislative support to do it. Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Co., or UTIMCO, and stored by the Federal Reserve.  Capriglione said the bill is not about putting Texas on its own gold standard. Rather, a depository would give the state a reputation as being more financially secure in the event of a financial crisis.”

http://www.star-telegram.com/2013/03/21/4721036/tarrant-lawmaker-seeks-to-create.html

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