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Swiss Bank Client Denied His $40 Million In Gold

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http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/12/7_Jim_Rickards_-_Swiss_Bank_Client_Denied_His_$40_Million_in_Gold.html

In an exclusive King World News interview, Jim Rickards told KWN that he was informed that a client of a major Swiss bank requested to take his one ton of physical gold that he owned outright out of the bank, and the bank would not give him his gold. The client had to use his lawyers and threaten to go public in order to eventually get his gold.

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Only when the last tree has died and the last river been poisoned

and the last fish been caught

will we realise we cannot eat money.

Cree Indian saying

eat_mo1.gif

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"The US has 72.8% of its reserves in gold...China has 1.6% of its reserves in gold"

I had not realised there was such a dichotomy between the US and China's Gold Reserves

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"The US has 72.8% of its reserves in gold...China has 1.6% of its reserves in gold"

I had not realised there was such a dichotomy between the US and China's Gold Reserves

No the US pretends to have 72.8% of its reserves in gold. Nobody has actually seen and properly audited the existence of US gold since the second world war. Their vaults could simply be empty or just painted tungsten bars.

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Heres the raw data:

Rank Owner Tonnes Share of Foreign Reserves

1 USA 8,133.5 78.3%

Rank Owner Tonnes Share of Foreign Reserves

2 Germany 3,412.6 69.5%

Rank Owner Tonnes Share of Foreign Reserves

3 IMF 3,217.3 n/a

Rank Owner Tonnes Share of Foreign Reserves

4 Italy 2,451.8 66.5%

Rank Owner Tonnes Share of Foreign Reserves

5 France 2,450.7 72.6%

Rank Owner Tonnes Share of Foreign Reserves

6 SPDR Gold Shares ETF 1,120.6 n/a

Rank Owner Tonnes Share of Foreign Reserves

7 China 1054.0 1.8

Rank Owner Tonnes Share of Foreign Reserves

8 Switzerland 1040.1 37.1%

Rank Owner Tonnes Share of Foreign Reserves

9 Japan 765.2 2.1%

Rank Owner Tonnes Share of Foreign Reserves

10 Netherlands 612.5 61.4%

Then some way down the table, thanks to Gordon Brown selling 395 of the UK's 715 tons

Rank Owner Tonnes Share of Foreign Reserves

?? UK 320 13% approx

http://www.wealthdaily.com/articles/who-owns-the-most-gold-in-the-world/1897

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Adding in population gives a very different ranking

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

1 Switzerland 1040.1 37.1% 7,782,900 0.000,133

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

2 Germany 3,412.6 69.5% 81,802,000 0.000,041

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

3 Italy 2,451.8 66.5% 60,494,632 0.000,040

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

4 France 2,450.7 72.6% 65,447,374 0.000,037

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

5 Netherlands 612.5 61.4% 16,633,200 0.000,036,8

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

6 USA 8,133.5 78.3% 310,879,000 0.000,026

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

7 Japan 765.2 2.1% 127,390,000 0.000,006,0

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

8? UK 320 13% approx 62,008,048 0.000,005,16

Rank Owner Tonnes Share of Foreign Reserves Population PerPerson

9 China 1054.0 1.8% 1,341,080,000 0.000,000,786

In actual numbers the swiss have a couple of thousand pounds worth of gold for every citizen, the UK about £100 each

Edited by oligotroph

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Now another revelation of a bank not delivering a depositor's silver bars.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/12/8_Turk_-_Swiss_Bank_Client_Battles_Over_2_Months_For_His_Silver.html

Since King World News broke the news with Jim Rickards that a Swiss bank client was refused his $40 million of gold and had to threaten the bank to get it, the story has been going viral. KWN interviewed James Turk out of London today to get his comments on the situation. Turk responded by citing another example, “I found that Jim Rickards comments about the individual who had difficulty getting $40 million of gold out of the Swiss bank where he had it stored very interesting. I could tell you several stories of similar experiences.”

Turk continues:

“Let me just cite one example that is ongoing. This individual has been storing with a Swiss bank twenty bars (1,000 ounce bars) of silver which has a market value today of just over $550,000. So, it’s not only large transactions that are affected, but small ones too.

When I last emailed this individual a couple of weeks ago, he was still trying to get his silver from this Swiss bank. This has been going on for over two months, and again we are only talking about 20,000 ounces of silver. This may seem unimaginable to some people, but I had told this individual in September when he contacted me that I had seen this problem repeatedly with other people.

He was quite confident that he wouldn’t have a problem getting his silver because he had been paying storage fees on it since buying it in the late 1990’s. The Swiss bank is insisting that he take cash, but he is demanding his silver which is supposed to be sitting in the bank’s vault be delivered to him. As I said before Eric, I know of other examples like this one.

Circling back around to the Jim Rickards interview, he ended with some very good advice, with which I wholeheartedly agree. Make sure your gold and silver are stored outside of the banking system.”

With regards to gold and silver specifically Turk stated, “It is important for people to keep their eye on the big picture and not be distracted by short-term volatility in the price of gold and silver. The long-term trend for both precious metals is still pointing higher.”

What in the world is going on with some of these banks that are supposed to be storing their customers gold and silver? Have they leased it out to another entity? Have they sold their customers precious metals and left an IOU in the vault while continuing to charge custodial fees? King World News may have only scratched the surface of what could turn out to be a fraud inside of some of these banks.

Eric King

KingWorldNews.com

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Now another revelation of a bank not delivering a depositor's silver bars.

The sign of things to come! ;)

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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