Go Back   Old Project Avalon Forum (ARCHIVE) > Project Avalon Forum > Project Avalon > Economy and Currency

Notices

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
Old 03-16-2010, 04:44 PM   #1
peaceandlove
Avalon Senior Member
 
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Exclamation What is Going on in The Dollar Loan And Physical Gold Markets?

What is Going on in The Dollar Loan And Physical Gold Markets?

SOURCE:
http://solari.com/blog/


It's Going To Implode: Buy Physical Gold - NOW

ZEROHEDGE
Submitted by Gordon_Gekko on 03/11/2010 07:29 -0500

Evidence seems to be mounting that we are headed towards some sort of implosion in the paper Gold market, and perhaps the currency/bond markets in general. Let’s take a look:

Jacksonville, FL based EverBank – a bank with approximately $8 billion in assets and 1800 employees according to the company website – recently sent this notice to customers (courtesy of Warren Bevan):

Quote:
"Non-FDIC Insured Metals Select Changes" -

Section 6.3.7. General Terms: We have added language clarifying our right to close your account. We may close your Metals Select Account at anytime upon reasonable notice to you. If we believe that it is necessary to close your account immediately in order to limit losses by you or us [GG: We really don’t give a s**t about you; it’s us that we care about], we may close your account prior to providing notice to you. Notice from us to one of you is notice to all of you [GG: the nerve of these people!]. If we close your account, we reserve the right to convert your Precious Metals to U.S. dollars and tender the balance to you by mail [GG: I am willing to bet my entire Gold stash that when you receive these "converted" dollars, they will be nowhere near the market price of physical. What did you think that whole "limit losses" thing meant?] .
If you have a "Non FDIC Insured Metals Select" account with these people, you can pretty much say goodbye to any chances of ever seeing your metal. This is a clear sign that the (already tight) availability of physical metal at the manipulated Comex futures paper price is in danger of vanishing altogether. Think about it. What is the scenario in which they avoid catastrophic losses while at the same time sending you the US dollar value of the metal? When the official or Comex price has fully decoupled from the physical price. Expect to see more such notices from banks offering Metals "Investments".

Citibank recently issued this notice to its checking account (remember the type of account where you thought you could withdraw your money whenever you wanted? Well, not anymore) customers (via Market Ticker):

Quote:
Withdrawal Notice:

We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past.
Continues: http://www.zerohedge.com/article/its...sical-gold-now
peaceandlove is offline   Reply With Quote
 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 10:10 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Project Avalon