Dutch ABN To Halt Physical Gold Delivery

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ancona

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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.
 

DoChenRollingBearing

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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)!
 

pmbug

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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.
 

bushi

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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.
 

bushi

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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...

 

pmbug

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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/nationalized-abn-amro-offers-fools-gold/
 

ancona

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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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