Dutch bank defaulted on physical gold deliveries to customers
And this could be also happening in the Land of The Free.
Basically their customers thought they had gold in their bank, but the bank defaulted and said it would give them the paper money equivalent instead. They informed their customers that there was no physical gold available.
So far, the people who believe that there is a big cartel suppressing the price of gold using the “paper gold” market have been widely regarded as conspiracy theorists that shouldn’t be taken seriously. The “paper gold manipulation theory” predicts that the world’s financial institutions lack the physical gold required to keep the price suppressed and sooner or later the powers that be will resort to gold confiscation.
The conclusions are clear to any seasoned investor. Never trust a bank to hold your precious metals. It will only end badly.
Source: the voice of Rusia – http://voiceofrussia.com/2013_03_28/ABN-has-no-gold-left-for-its-clients/
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