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Old 03-24-2013, 04:07 PM   #1
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Dutch ABN To Halt Physical Gold Delivery

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Based on a letter to clients over the weekend, it appears ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals."
http://www.zerohedge.com/news/2013-0...-gold-delivery

Hmmm....
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Old 03-24-2013, 04:57 PM   #2
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What fucking joke. This market is devolving in to a rigged card game and people seem to be simply letting "them" slide on it.

Fuck paper, get physical while it's still possible to do so. The end game is playing out here folks and when the tower finally crumbles it won't be pretty.
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Old 03-24-2013, 05:54 PM   #3
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...

Brother Ancona writes: "rigged card game..." Right! Just like I felt last night at the casino playing low-cost Texas Hold'em...

***

Take the cure for a rigged card game! Buy the physical now (yesterday even better)!
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Old 03-25-2013, 06:36 AM   #4
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Sounds like the bank doesn't want to let go of any of the golden Basel III tier 1 assets they're holding (but which they don't own). It's akin to a forced sale, but it sounds like theft to me.

Physical in the hand. 3rd party vault services - even from folks you trust - carry risks (too). There is no free lunch.
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Old 03-25-2013, 10:59 AM   #5
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to me, the biggest risk for centralized vault services, would be a big red target painted on their backs, for all the hungry governments out there, to have a go.
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Old 04-15-2013, 11:05 AM   #6
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...
"The demise of gold is still at an early stage," reckons ABN Amro commodities strategist Georgette Boele. "Other assets will become increasingly more attractive as the growth outlook improves."
...
http://www.resourceinvestor.com/2013...e-drops?ref=hp

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Old 04-15-2013, 11:16 AM   #7
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The demise of gold is being trumpeted already:
http://finance.yahoo.com/blogs/daily...3BtaA--;_ylv=3

".... ..Gold Tumbles Again: Is the Era of Gold Over?"
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Old 04-15-2013, 12:24 PM   #8
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...I mean... what the fucking planet are these guys living on, FFS?


I tend to belong to the "upper middle class" salary, I suppose, with my 15 years as a enterprise developer. I live rather prudent and savvy life. I can scrap together few spare $$$ of savings here & there, but... I am better off, than nearly ANYBODY I can think of, from my friends, family, and closer or further connections. And I am not living high-life, not at all.

How the feck, can anybody sane claim, that the economy(ies) are getting better, like, RECOVERY, with a fucking $90 billion, being printed and pushed onto the "economy", for fox's sake, some prices simply HAVE to go up.#


But the real question is: WHO CAN AFFORD THESE THINGS? Certainly, not the people, who are broadly expected to buy them IN THE END, ie, the so called broad public.

So I don't give a fuck, if there's a new mania in buying houses, this time-for rent, pushing the prices up - these houses, will end up, mostly unoccupied OR BEING A LOSING INVESTMENT - if people cannot afford to get a mortgage on it, they certainly cannot afford to pay somebody else's mortgage + his/her profit margins. Simples.

Just you all wait...

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Old 06-04-2013, 08:04 AM   #9
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In March, Dutch nationalized banking giant ABN Amro send its trading clients a letter explaining that they have changed the conditions for precious metals trading. In their letter [1], the bank explains that they will no longer deliver physical precious metals (gold, silver, platinum and palladium), that they administer prices slightly differently, and that they have found a new custodian. ABN Amro suggests that clients do not have to do anything, stating “we will administer and manage your precious metals holdings in the new manner”.

Of course clients do not have to do anything, but given the new conditions [2], this is hardly advisable or prudent. Investors with precious metals holdings with ABN Amro are potentially facing fatal risks.
...
Much more: http://www.jcaschipper.nl/2013/05/na...rs-fools-gold/
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Old 07-18-2013, 10:54 AM   #10
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Rabobank has just followed in the footsteps of ABN Amro which effectively defaulted by halting deliveries of gold bullion in April, as the Dutch bank will close customers’ gold accounts effective September 1st!
...
http://www.silverdoctors.com/second-...gold-accounts/
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Old 07-18-2013, 02:29 PM   #11
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Wow! It's getting pretty clear to folks just how little physical silver and gold actually exists [in the existential sense of being ; - )].

Maybe.......just maybe......"they" will have no choice but to ride the rocket now.
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