The Phaserl


Flashback: Kyle Bass Wisely Advises University of Texas to TAKE DELIVERY of Their $1 Billion in GOLD

from Zero Hedge:

In light of the recent inability of the Federal Reserve to return Germany’s physical gold to them in any acceptable fashion (timing, quality, etc…) it reminded me of when the financial “journalists” laughed at the fact that the University of Texas took the advice of Kyle Bass and actually took physical delivery on their gold futures contracts.

If you recall, back in 2011 Bass had the university take delivery on ~$1 billion dollars worth of physical gold. 

Here was his reasoning back then (still laughing now?)

The COMEX had a bout $80 billion dollars of open interest between futures and futures options. And in the warehouse they had $2.7 billion of deliverables. So $80 billion in open interest, 2.7 billion in deliverables, we’re going to own it a long time – that’s an easy one, you’re going to go get it.

When I talked to the head of deliveries, and I said what if like 4% of the people want delivery? — He says oh Kyle, that never happens“… Indeed

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3 comments to Flashback: Kyle Bass Wisely Advises University of Texas to TAKE DELIVERY of Their $1 Billion in GOLD

  • Z

    “The one aim of international financiers is world control by the creation of inextinguishable debts.”

  • MoFo

    This is an OLD interview…OLD is 18 months. Kyle Bass in my opinion is one of the best. NO bullshit…got my hands on it …type of guy.

    I will tell you, once this type of info is out, YOU ARE TOO FUCKING LATE. Yup…YOU.

    So have that bottle of Chattue smell my feet, and enjoy it! God only knows, you can’t take it with YAH.

    2014…should bring HUMOR, LAUGHTER….LAUGH and LAUGH some more.

    Jesus was a JEW…But ONLY on His mother’s side!

    • Z

      yup, KB is the real deal… puts his money where his mouth is. Unlike a lot of these characters that continually jabber about what “might” happen and keep the tease going.

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