Thursday, April 21, 2011

University of Texas Buys nearly 1 Billion in Gold

University of Texas Logo

Ever had a gold bar delivered to your door? How about thousands of them? The University of Texas Endowment Management firm (4/18/1011) has recently taken a delivery of 6,643 gold bars valued at nearly a billion dollars. The Universities board members have advised on the purchased in fear of the diminishing value of the dollar, and the contrary increasing value of gold that is continuing to rise in spite of economic down turn. A member of the Endowment’s Board Kyle Bass, stated the following behind his reasoning for the decision:

““Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said yesterday in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”

Gold has yet again shown its power by beating out the dollar in economic power. What does this mean for the average gold consumer? It means that the value of gold is still strong regardless of the recent economic hardships. If you have any unwanted or broken gold or jewelry, do NOT let it sit one day longer. Visit and redeem it for real cash now, and in the height of rising gold prices, get the most for your gold today.

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