Thursday, July 15, 2010

Texas Teachers Retirement System Shrugs

The TTRS has invested $500 million in gold.  Here's the article link:  Gold Is Real Money; here's the mainstream media reaction:  "it is rare for the investment managers to put large sums of money into a  commodity whose value usually only grows through inflation."

And here's The Golden Truth
Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence.  Destroyers seize gold and leave to its owners a counterfeit pile of paper (think:  FDR 1933).  This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values.  Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it (Atlas Shrugged).
People who know, know the real reason TTRS is buying gold. 


  1. "He said most of the gold purchases have been through futures trading, but he said UTIMCO may take physical possession of some gold."

    Based on what I read here, sounds like they are loading up on paper gold (futures)...and that means counterparty risk. So if gold moves higher they will get more fiat.

    I guess it all depends what 'MAY take physical' really means. As I have read elsewhere if enough endowments, pension funds, the truly wealthy add even 2% physical to their holdings, the game collapses. And thta may just be the main point.

  2. They will ultimately take delivery. Google "Shayne MacGuire gold" he's the director of global researcher at TTRS and he understands the game.