{"id":18472,"date":"2011-04-21T12:28:00","date_gmt":"2011-04-21T10:28:00","guid":{"rendered":"http:\/\/beta.next-finance.net\/strategie\/the-university-of-texas-investment-management-co-to-hold-1-billion-in-gold-bars\/"},"modified":"2011-04-21T12:28:00","modified_gmt":"2011-04-21T10:28:00","slug":"the-university-of-texas-investment-management-co-to-hold-1-billion-in-gold-bars","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/strategie\/the-university-of-texas-investment-management-co-to-hold-1-billion-in-gold-bars\/","title":{"rendered":"The University of Texas Investment Management Co. to hold $1 billion in gold bars"},"content":{"rendered":"<p class=\"post_excerpt\">The endowment, which oversees funds held by the University of Texas  took delivery of almost $1 billion in gold bullion as a hedge against inflation<\/p>\n<p><!--more--><br \/>\nThe information has gone unnoticed. However it certainly has its importance. The board of the second-largest U.S. academic endowment &#8211; behind Harvard &#8211;  announced on April 14 to have completed the purchase of $1 billion in gold bullion<\/p>\n<p>According to bloomberg, the fund took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault.<\/p>\n<p><citation|texte=Central banks are printing more money than they ever have|auteur=Kyle Bass\/><\/p>\n<p>The fund, which managed about $19.9 billion in assets, has 664,300 ounces.The decision to turn the fund\u2019s investment into gold bars as a hedge against inflation was influenced by Kyle Bass, a Dallas hedge fund manager and member of the endowment\u2019s board. Bass made $500 million on the U.S. subprime-mortgage collapse.<\/p>\n<p>\u201cCentral banks are printing more money than they ever have, so what\u2019s the value of money in terms of purchases of goods and services,\u201d Bass said yesterday in a telephone interview. \u201cI look at gold as just another currency that they can\u2019t print any more of.\u201d<\/p>\n<p>Bruce Zimmerman, the endowment\u2019s chief executive officer, said the holdings worth about $987 million, based on wednesday\u2019s closing price of $1,486 an ounce for Comex futures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The endowment, which oversees funds held by the University of Texas took delivery of almost $1 billion in gold bullion as a hedge against inflation<\/p>\n","protected":false},"author":20,"featured_media":18470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1483],"tags":[1655,1950,1744,1651,1746,1650,1917],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/18472"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=18472"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/18472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/18470"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=18472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=18472"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=18472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}