Stories Related to Texas Wants Its Gold Back Inside The State's Borders

Texas is the only state that owns an actual stockpile of gold, according to public sector and financial industry experts — not just gold futures or investment positions, but approximately 5,600 gold bars worth around $650 million. The holdings, stored at a New York bank, for some harken back to century-old fears about the security of currency not backed by shiny bullion. [...] Capriglione now thinks private companies would bid to create a depository in exchange for charging storage and service fees. "Just moving it would be pretty expensive and, unless Texas is anticipating withdrawing from the union, which I suspect is some peoples' want, I don't see what advantage it is...," said Edwin Truman, a senior fellow at the Washington-based Peterson Institute for International Economics who has written about gold and monetary policy. After the bill sailed through the Legislature, Republican Gov.