Posted on 12/11/2010 3:00:28 PM PST by epithermal
For some time some of the more outspoken gold commentators, like GATA, have been suggesting that title is held to far more gold and silver supposedly stored in bank's vaults, than is actually there - indeed they even have been questioning Central Banks' holdings of physical bullion - even in Fort Knox. Now there is some anecdotal evidence emerging on the internet and news programmes that may serve to back up some of these claims, at least as far as some commercial banks are concerned.
-snip-
A couple of days ago King World News of the U.S. quoted Jim Rickards, a long term proponent of gold market manipulation by banks and governments and extremely well respected - as saying that he knows of an investor in physical gold who had to haggle with a Swiss bank, which was supposedly storing gold for him, for a full month to achieve physical delivery of his own owned bullion - a considerable amount - $40 millions worth. And the gold was only returned to him after threats to resort to legal action and give the story to the media.
(Excerpt) Read more at mineweb.com ...
Our earlier thread on the initial report by Jim Rickards is here http://www.freerepublic.com/focus/f-news/2638982/posts
“Will it be series?”
Yes...it will be hugh too.
If you can get morgans for $20 you are lucky. Price should be around $23-26. Melt value is north of $22.
No big deal - - it’s just “fractional reserve” gold.
I know. If someone told me the same story, I’d call BS.
All I know is that I threw the cash on the counter and told him I wanted silver dollars. He showed me his daily print-out of silver melt value from coinflation.com and it showed what you said, $22.+. He pulled out a tray of coins and stacked them up at 5 for $100.00. Some had retail prices at $28.00!
The guy runs his shop out of his house and I have spent quite a bit of time there just talking about coins and such. At any rate, I’ll be the first one at the bank this morning and then back to his shop.
Buy a few shotguns (one for each family member of shooting age) and lots of ammo.(If people find out you have such valuables some may wish to relieve you of them.)
Don't trust banks, they are under control of the government. They can seize assets both digital and physical stored inside bank at the drop of a hat.
How do we know this?
Because they did it before...
Google "Executive Order 6102"
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