Two years ago I was with an analyst in Montreal and he mentioned that he had his gold bullion held in “safekeeping” at a company in Montreal. I immediately said ” let’s go over there now” We went into the building and through the security and he got his gold ingots. I advised him to trust nobody but his wife and find a secure place to keep it.
We have known for years that the banks and brokerages were manipulating gold prices for the primary reason to serve their own purposes, interests and profits-last in line has always been the best interests of the investing public.
Through their manipulation of gold to the downside, they made enormous profits at the expense of the investing public and at the same time causing extraordinary damage to mining companies as well. Financing exploration when gold is selling at low prices is very difficult.
This past week in court in New York, the Deutsche Bank admitted its involvement in the manipulation of gold. The admission sends strong messages. The first message is that the price of gold is not always where it should be but rather where it can best benefit the banks and brokerages by their manipulations. The Deutsche Bank admission also supports our belief that investors should demand delivery and complete physical possession of any of their gold bullion that they having held in “safekeeping” anywhere in the banking system.
Do you recall about three years ago when Dutch citizens went to their local bank to ask for their gold? They were told that there they did not have it and were forced to accept Euro’s. Do you remember three years ago when the Germans asked for their 350 tonnes of gold held in safekeeping at the Federal Reserve in New York? They were given excuses and still may not have received all of their gold that they had deposited in New York for “safekeeping.”
You may have just seen the news that another Wall Street firm has agreed to pay hundreds of millions of dollars in fines for actions that were criminal in every sense. Keep in mind that the major banks and brokerage houses have been fined BILLIONS OF DOLLARS, paid it and go right back to work “servicing the investing public.”
To our friends in China, Russia, India, Germany and other countries and gold owners throughout the world including central banks, we believe that they should immediately demand that their gold held in “safekeeping” in countries other than their own, be delivered to them now! Recall the excuse given to Germany that their gold could be delivered over five years. That led people to think that it really wasn’t there in “safekeeping.” Actually, we don’t think that much of the gold held in safekeeping throughout the world is truly in the supposed depositories at all.
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