From my recent readings I believe Texas University received (or will receive) physical gold from HSBC and that they intend to hold it in physical form and not lend it, lease it or otherwise have it encumbered.

It is thought, and hoped, that other University Endowment Funds will follow the lead of Texas U and also insist on physical delivery of any paper gold holdings.....and in future, invest only in physical gold and silver that they can hold in their hand(s).

It is finally dawning on the major US investors - the heavy hitters - that GLD has no gold; that SLV has no silver - and that the reason there has never been an audit of US physical gold holdings (the 1953 Eisenhower farce was not an audit) is simply that, other than a pile or two of degraded coin and jewellry melt and a few gold plated tungsten bars - all of which is essentially worthless - there is no gold - none at all - in Fort Knox, West Point or the Denver Mint.

And that is the reason; the only reason, there will never be an audit. The oft stated US Treasury holdings of 8133 tons of 99.999 pure:"London Good Delivery Bars" good has been reduced to zero.

Fred25