The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board, reports Bloomberg.What is The Obama Dollar really worth? Just about as much as Obama's credibility.
The decision to turn the fund’s investment into gold bars was influenced, according to Bloomberg, by Kyle Bass, a Dallas hedge fund manager and member of the endowment’s board, Zimmerman said yesterday at its annual meeting. Bass made $500 million on the U.S. subprime- mortgage collapse.
Tuesday, April 19, 2011
EconomicPolicyJournal.com: Whoa! University of Texas Takes Delivery of a Billion Dollars Worth of Gold
EconomicPolicyJournal.com: Whoa! University of Texas Takes Delivery of a Billion Dollars Worth of Gold
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