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Ruh-Roh.
Goldbug ping
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That’s always been my fear. How do I get my gold or silver if the bank is locked up? Keep it buried in the back yard. It’s not like it makes interest sitting in a safe deposit box.
I think he's dreaming. Won't happen.
For all those who THINK they have made a fortune in gold; if you don’t hold the ACTUAL metal in your hands, you may not have a nickel.
Sure it did. It had nothing to do with the extension of unemployment benefits or the US bailout of European banks.
Put nothing in a safe deposit box either...
Get your gold out of the banking system, Rickards tells King World News
I’m curious which bank did this. Do they fear a lawsuit if they name the bank?
Many ‘banks’ got taken by the gold-plated zinc ‘bars’.
Many of the world bankers are so used to living large that they have raided the kitty way too many times.
It has gone on in the U.S. and around the world. Robbery on an international basis, and by the very people we entrust with our money.
Add to that, the government forcing banks to lend to bad risks. Now, we have to pay the bill. The bank bailouts are how we pay the bill.
ping...
People that own silver paper are also going to be unable to take possession of their silver. Isn’t the world system great?
I’ve long had a feeling that these places where people invest in gold don’t have nearly as much gold as they’re selling. They turn around and invest your money in stocks, just promise to give it back to you based on the price in gold. They just hope there isn’t a run to expose them.
I am not inclined to believe this guy. I have experience with Swiss banks. Any branch in a major metropolitan Swiss area would have enough for one person (not a world’s richest) to pull their gold out in total. I’ve seen the gold. I used to make large withdrawals and deposits for my company when I worked in Switzerland.
I believe there is something else to this story.
There is nowhere near enough gold to back all the world's currency. It might be a good idea to come up with a basket of asssets, which could collectively back all the world's currency, but it's doubtful that that would be practical.
The answer, for individuals, is to acquire hard assets on their own, if they see a need to do so.
We’re in the middle of a metal bubble. The stories are going to get better and better, each passing day. I see that Silver the other day broke into the parabolic up move that it experienced in 79. The next several months should be quite interesting. Silver, 40, 60, 100 before it implodes? The JPM silver story, another good bubble story. What goes straight up, eventually goes...straight down. Again, this is going to be a heck of a story/ride...
Like when the Federal Reserve lent $3.3 trillion of brand spankin new munny to the Europeans without so much as a village board vote? This guy should not hold his breath... and, while I'm ranting... why was he so stupid as to put his physical gold in a chartered bank who will ALWAYS capitulate to the government who charters it? Duh...
Bump
Is there a reason it’s better to accumulate gold rather than simple mercury dimes? Just throwing it out for discussion.
I’ve been saying for years that paper gold is fart gas, and any gold that you can’t grab in minutes isn’t really yours.