Texas University makes $1 billion dollar bet against the dollar

If you watch CNBC or read the New York Times, you probably know that gold is still largely considered an investment vehicle for whack jobs and conspiracy theorists by the so-called mainstream media. Still, gold's relentless climb in the face of a dollar that is under constant attack from Helicopter Ben Bernanke and his merry gang of money printers has not gone unnoticed by the University of Texas. The university, which manages almost $20 billion worth of assets, recently upped its gold position to 6,643 bars bringing its total position in the yellow metal to almost $1 billion at today's prices. This sobering news out of Texas, along with a dollar that is making new lows almost every week, should serve as a wake up call for the millions of Americans who are still following investment guru Michael Moore's strategy of hoarding Federal Reserve Notes.