Gyroscopic Investing

Plans to create a gold depository in Texas are moving slower than anticipated.

State officials originally planned to announce the winning proposal to create a Texas Bullion Depository last year and hoped to have work on it under way by Dec. 1 (2016).

Now, more than two months after the original deadline, which officials say was never set in stone, there’s still no news yet on where a depository will be located — or who will build and run it.

“Our team is working to get this done as soon as possible,” said Chris Bryan, a spokesman with the Texas Comptroller’s Office. “They are committed to providing Texans with a secure gold bullion depository.

http://www.star-telegram.com/news/polit ... 14079.html

Today I started using the safe deposit services at Chappell Hill Bank (Texas), 67 miles from Downtown Houston, and a world away it seems. It's on the national register of historic places. They even gave me a passbook for my savings account! Of course, it has no utility, but still... I hadn't seen one of those in fourty years. And they allow concealed carry into the bank, and they say so on the front door. I have some confidence that if orders like FDR Executive Order 6102 were to be issued someday, they'd let me in to clean out my box. They are very nice people.

A world away indeed.That car...
Is that the newest Mini Cooper?

Tesla concept car.

This morning, Comptroller Glenn Hegar announced that the state of Texas selected Lonestar Tangible Assets as the vendor for the construction and operation of the Texas Bullion Depository.

I think we are just in the beginning phases of learning what the facility, terms, and conditions would be like. It will take years to unfold. I'll post more as I learn more.