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发帖数: 8363 | 1 Jim Rickards - Swiss Bank Client Denied His $40 Million in Gold
In an exclusive King World News interview, Jim Rickards told KWN that he was
informed that a client of a major Swiss bank requested to take his one ton
of physical gold that he owned outright out of the bank, and the bank would
not give him his gold. The client had to use his lawyers and threaten to go
public in order to eventually get his gold.
Jim Rickards: "I Obviously can’t mention the names of the individuals or
the banks involved, nor is there any need to. But just the bare bones which
was reported to me was that an individual had a ton of gold, it’s about $
40 million, so a $40 million position of physical and simply wanted the gold
. Now this was not paper gold, it was not unallocated gold, it was not a
gold future or a gold forward, gold option or Comex gold. This was just
good old fashioned gold where he owned it outright, it was in effect a
warehouse receipt is what they give you."
EK: Right, meaning he had his gold put there and they gave him the receipt
and the gold is supposed to be sitting there.
JR: "Correct and upon request to move the gold...the bank demurred, the bank
said, ‘Well, no, not so fast’ and he said, ‘What do you mean?’ Anyway
, long story short I could see that taking a day or two...This took thirty
days to complete delivery. Now if the gold is sitting there it shouldn’t
take thirty days. Oh, and by the way I should add that the individual had
to threaten to go public, in effect say I’ll call Reuters or I’ll call
King World News or I’ll call Dow Jones and let them know that you don’t
have the gold, you’re not good for it."
Ek:And he had his lawyers get involved?
JR: "Correct, and through all of that eventually the individual did get his
gold, but this is something that should have taken two days, three days, a
week at the most, although I would say even a week is a long time. But it
took thirty days, and it took lawyers, it took threats of publicity, it took
a lot of pressure to do that, which my inference is that that gold was not
there. The bank had to scramble, go out and find it somewhere before they
could make good delivery."
EK: Right, so they had either leased it out or they had done whatever with
it?
JR: "Correct."
EK: ...Right, but this gets back to what Felix Zulauf said on King World
News, and you are saying the same thing here which is to make sure you are
outside of the system, just don’t even deal with a bank.
JR: "Correct, because the governments control the banks. I mean lately it
looks like the banks control the government, that’s probably true as well
but there may come a time, and I think there probably will, where the
government is going to order the banks to freeze the gold. In other words,
not make the gold available to customers. It’s still here, it’s still
yours, but sorry we’re rejigging the system and we’re not going to let you
take it out right now." | N********n
发帖数: 8363 | 2 Since King World News broke the news with Jim Rickards that a Swiss bank
client was refused his $40 million of gold and had to threaten the bank to
get it, the story has been going viral. KWN interviewed James Turk out of
London today to get his comments on the situation. Turk responded by citing
another example, "I found that Jim Rickards comments about the individual
who had difficulty getting $40 million of gold out of the Swiss bank where
he had it stored very interesting. I could tell you several stories of
similar experiences."
Turk continues:
JT: "Let me just cite one example that is ongoing. This individual has been
storing with a Swiss bank twenty bars (1,000 ounce bars) of silver which has
a market value today of just over $550,000. So, it’s not only large
transactions that are affected, but small ones too.
When I last emailed this individual a couple of weeks ago, he was still
trying to get his silver from this Swiss bank. This has been going on for
over two months, and again we are only talking about 20,000 ounces of silver
. This may seem unimaginable to some people, but I had told this individual
in September when he contacted me that I had seen this problem repeatedly
with other people.
He was quite confident that he wouldn’t have a problem getting his silver
because he had been paying storage fees on it since buying it in the late
1990’s. The Swiss bank is insisting that he take cash, but he is demanding
his silver which is supposed to be sitting in the bank’s vault be
delivered to him. As I said before Eric, I know of other examples like this
one.
Circling back around to the Jim Rickards interview, he ended with some very
good advice, with which I wholeheartedly agree. Make sure your gold and
silver are stored outside of the banking system."
With regards to gold and silver specifically Turk stated, "It is important
for people to keep their eye on the big picture and not be distracted by
short-term volatility in the price of gold and silver. The long-term trend
for both precious metals is still pointing higher."
What in the world is going on with some of these banks that are supposed to
be storing their customers gold and silver? Have they leased it out to
another entity? Have they sold their customers precious metals and left an
IOU in the vault while continuing to charge custodial fees? King World News
may have only scratched the surface of what could turn out to be a fraud
inside of some of these banks. | N********n
发帖数: 8363 | 3 See that? PET can naked-rig CRIMEX paper market all they want but at the
end the physical shortage will bust their Ponzi scheme. Price knows no
limit when shortage arrives, and we have one in silver.
Don't get mad about the current engineered plunge, get even and buy more
physical metal. Each dip is a PET-sent gift. Each ounce you take off the
market is a silver bullet firing into PET's naked ass. The more suicidal
plunge they dish out, the uglier their eventual death will be.
Stay with the big picture. Think Dollar as world trade center. Think QE,
bailouts and mass deficit spending as planes smashing into WTC. It's on
fire, and it will collapse.
Think gold and silver as honest money. Think them as the safe haven as
paper currency is crashing. The only way to save Dollar is to re-evaluate
gold to its true value. So invest in gold to get rich. Invest in silver
to hit a grand slam. Hold onto to your S&P to get Madoff-ed. |
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