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The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty
Zero Hedge ^ | 4/7/10 | Tyler Durden

Posted on 04/08/2010 3:25:22 AM PDT by Daisyjane69

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Canada; News/Current Events
KEYWORDS: fraud; gold
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More shenanigans?

Here's the link to the interview they mention. I have not had a chance to listen to it.

http://kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/4/7_Harvey_%26_Lenny_Organ_%26_Adrian_Douglas.html

1 posted on 04/08/2010 3:25:22 AM PDT by Daisyjane69
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To: Daisyjane69

http://kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/4/7_Harvey_%26_Lenny_Organ_%26_Adrian_Douglas.html

hope that link works. I’m going to listen to it now.


2 posted on 04/08/2010 3:27:07 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: Daisyjane69

why doesn’t this surprise me?


3 posted on 04/08/2010 3:40:31 AM PDT by screaming eagle2 (No matter what you call it,a pre-owned automobile is STILL A USED CAR!!!)
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To: screaming eagle2

Don’t ya just feel like banging your head on the monitor?

I’m listening to the interview now and it’s almost worse than it sounds.

meh


4 posted on 04/08/2010 3:43:05 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: Daisyjane69

Now all we need is for China or India or Japan or all 3 to revalue their money and convert to gold and silver. Might be a good move if Australia did it first.


5 posted on 04/08/2010 3:47:37 AM PDT by Waco (Kalifonia don't need no stenkin oil and no stenkin revenues)
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To: Daisyjane69

Fiat gold. As solid as the dollar.


6 posted on 04/08/2010 3:52:42 AM PDT by arthurus ("If you don't believe in shooting abortionists, don't shoot an abortionist." -Ann C.)
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To: arthurus

If I didn’t know better, it almost makes you think that some people are trying for a five continent world war over sh*t like this.

Damn...


7 posted on 04/08/2010 3:55:14 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: Daisyjane69

That is a must listen to interview. You can get more information about gold and silver price suppression here.

http://goldismoney2.com/forum.php/forums/


8 posted on 04/08/2010 3:58:39 AM PDT by Starchoice
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To: Daisyjane69

This is exactly why I never understood those (Goldline) “Buy gold and we’ll store it for you!” deals. So sorry for not trusting you with my $1500 oz purchase.


9 posted on 04/08/2010 4:00:49 AM PDT by autumnraine (America how long will you be so deaf and dumb to the chariot wheels carrying you to the guillotine?)
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To: Starchoice

I’ll listen to that next, since these turkeys have already given me a headache. LOL

Now, this article of 6 months ago makes sense:

http://www.marketwatch.com/story/hong-kong-recalls-gold-reserves-from-london-2009-09-03


10 posted on 04/08/2010 4:01:07 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: autumnraine

Well, I just hit the money quote (no pun intended) at the end of the interview:

“I think a good analogy is...if you were to buy a lifeboat on the Titanic. That the moment that the ship is sinking, you’re told that they’ve sold more lifeboats than they actually have. That they tell you ‘It’s okay; there’s mechanisms for cash settlements instead.’ “

oh boy...


11 posted on 04/08/2010 4:17:15 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: Daisyjane69

I’ve never understood why anyone buys gold.


12 posted on 04/08/2010 4:22:43 AM PDT by caver (Obama: Home of the Whopper)
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To: caver

If you read this book on the history of gold you will understand that the current situation is anomaly. “The Power of Gold: The History of an Obsession”.

A return to a gold or silver standard is brewing. The world has been off the gold standard for only 60 years or so and is probably reverting to the historical norm.

http://www.amazon.com/Power-Gold-History-Obsession/dp/0471003786


13 posted on 04/08/2010 4:31:58 AM PDT by bert (K.E. N.P. +12 . Ostracize Democrats. There can be no Democrat friends.)
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To: caver

I can’t speak for the others; they can speak for themselves.

But precious metals are a store of value/wealth throughout history, that cannot simply be randomly produced out of thin air. For this reason, nearly all nations (at least modern ones) hold at least some gold/silver.

There is no counterparty risk to gold or silver that you own outright and have in your possession. Paper currency carries counterparty risk in so much as it’s only worth the finances of the gov’t that issues it. (See Zimbabwe, Weimar Republic)

They are rare. Rare enough to ensure passage to freedom (as happened during Hitler’s rule) and rare enough to confiscate (such as FDR did here, or the Ukraine gov’t did before they starved their population).


14 posted on 04/08/2010 4:33:34 AM PDT by Daisyjane69 (Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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To: Daisyjane69; bert

I need to do some reading. Thanks for the insight.


15 posted on 04/08/2010 4:35:12 AM PDT by caver (Obama: Home of the Whopper)
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To: caver
"I’ve never understood why anyone buys gold."

Me neither. Folks should just trust the Government to do the right thing with paper currency.

Thousands of years of human history clearly show that when nations abandon the imposition of some arbitrary metallic standard, their economies flourish and their societies blossom.

Only the Government can deliver more flexible cash, suited to the situation.

Just stop thinking, and listen to those who know best - Government experts.

16 posted on 04/08/2010 4:39:15 AM PDT by headsonpikes (Genocide is the highest sacrament of socialism - "Who-whom?")
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To: caver

“I’ve never understood why anyone buys gold.”

I can understand why someone would buy gold. What I can’t understand is why someone would buy a PIECE OF PAPER that claims to represent gold!


17 posted on 04/08/2010 4:42:57 AM PDT by Nik Naym (My new business plan : open a chain of stores that sell hot tar, feathers, rope, and lamp posts.)
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To: Daisyjane69

It is time for an independent audit of Fort Knox. Someone needs to go in there and do a random assay of a set percentage of the bars and determine if the tungsten story is true.

I suspect the resistance to such an audit would be monumental.


18 posted on 04/08/2010 4:45:43 AM PDT by reagan4palin
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To: Daisyjane69
"There is no counterparty risk to gold or silver that you own outright and have in your possession."

The risk to gold is not counterparty, it is confiscation (as you acknowledge in your last paragraph).

In 1933, FDR set the value at $20/oz, which was below market value. While many did not surrender theirs, they were no longer able to trade or exchange it. And while there were no paper trails for who owned gold in 1933, the vast majority of those who now own gold have left long paper/computer trails for their gold purchases.

Silver was not outlawed (if you can handle the bulk) and neither were rare collectible gold coins.

19 posted on 04/08/2010 4:49:31 AM PDT by drpix
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To: Nik Naym

......What I can’t understand is why someone would buy a PIECE OF PAPER that claims to represent gold!...

You have stated the case well.


20 posted on 04/08/2010 4:54:56 AM PDT by bert (K.E. N.P. +12 . Ostracize Democrats. There can be no Democrat friends.)
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