The Washington Post Posted by Neil Irwin on March 26, 2013 at 10:58 am
Gold at the New York Fed. (Federal Reserve Bank of New York)
Texas has generally been at the front of the pack of a certain variety of uber-hawkish, vaguely paranoid monetary policy talk over the last few years. Recall it was the state’s governor, Rick Perry, who while running for president strongly suggested that Ben Bernanke would be committing treason should the Federal Reserve print any more money. But now some in the state, including Perry, are looking to put their money where their mouths are. Literally.
Perry and some in the Texas legislature want to bring the roughly $1 billion worth gold held by the state university system’s investment fund onto Texas soil, rather than in its current resting pace in a vault in New York.
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