● Introduction
The world’s most secure investment is gold. For centuries, it has supported economies, inspired revolutions and influenced major geopolitical decisions. Today, you can buy some gold as a long terminvestment. It is well known that this precious metal consistently increases in value over time. As such, it is a great way to store your wealth and watch it grow at the same time. If you live in the United States and own more gold that you would wish to keep in your home, there is a brand new storage location available. It is known as the Texas Bullion Depository (TBD). The facility is a high-tech storage location for gold bullion that’s ran and managed by a private vendor. Read on to discover more about it.
- Finally, a secure, convenient location for your bullion
According to a report published in Gold Seek this week, this highly secure depository was opened on Wednesday, June 6th 2018. Ever since the global economy collapsed in 2008, people have sought more secure ways to store their wealth. Precious metals have provided a reliable avenue for this purpose. As such, smart investors have made solid gold a part of their overall investment portfolio. In this arrangement, they can buy and sell gold bullion to improve their overall value of their portfolios. Not only does it provide a way to increase the value of the portfolio over time, it also acts as insurance against factors such as inflation and reductions in the value of other instruments of investment. The Texas Bullion Depository is specially equipped to store gold, silver and other precious metals.
- Special feature
The TBD has a slight difference from all other gold depositories in the country. It is privately owned but supervised by the state. Representatives of the Lone Star State assist with the day to day operations of the gold depository. Furthermore, the facility is situated out of federal jurisdiction. Therefore, the FBI does not have any access to it.
The private-public partnership over its operations allows depositors to have confidence in the operations of the facility. Furthermore, Texans’ tax dollars will not be utilized in maintaining the establishment. Seeing as the industry of storing precious metals is very lightly regulated, having state supervision adds some peace of mind to the depositors.
The creation of this facility has elicited positive reactions from stakeholders. As a matter of fact, legislators from other states such as Utah and Tennessee are very interested in replicating the move. The idea of creating the TBD was conceptualized after Mr. Kyle Bass convinced one of the biggest educational establishment in the state to invest $1 billion in gold. The establishment involved was the University of Texas.
- Conclusion
Gold and precious metal investors in the state of Texas can now rest easy thanks to this new depository. They can now store their gold in the Texas Bullion Depository. In addition to no federal oversight, state assisted supervision and superb security, the TBD offers depositors a chance to store their gold outside the bullion bank system. In this way, they can have their wealth much closer to home.