Gold Default Has Begun? Gold Market Is Getting Tighter And Tighter As People Demand Tangible Real Gold. Now Gold Buyers Are Having To Wait Up To Six Weeks For Their Bars And Coins
Embry – This May Create A Massive Upside Breakout In Gold
Embry: “What I am focused on right now is this whole paper gold market and the fact that the gold in the banking system has been hypothecated and rehypothecated so many times that nobody knows who owns what.
We’re seeing more and more evidence that the market is getting tighter and tighter, and I believe there will be a run on physical gold because of this. When these various people and entities find out they don’t really own the gold they think they do, there is going to be an amazing reaction….
CME Executive Chairman Terrence Duffy on Gold “They Don’t Want Certificates, They Want the Real Product”
CME’s Terry Duffy: “What’s interesting about gold, when we had that big break two weeks ago we saw all the gold stocks trade down significantly, we saw all the gold products trade down significantly, but one thing that did not trade down, was gold coins, tangible real gold.That’s going to show you, people don’t want certificates, they don’t want anything else. They want the real product.”
Jim Willie CB – Gold Trade Settlement and $7000.00 Gold
The world reacts by searching for a USDollar alternative, since the removal of the Gold Standard has crippled the world and permitted widespread fraud. The new standard will usher in the new Gold Trade Standard.
http://news.goldseek.com/GoldenJackass/1367352000.php
Largest Dutch bank defaults on physical gold deliveries to customers
Last week, a rubicon was crossed in the precious metals market as one of the largest banks in Europe defaulted on their gold contracts, and informed their customers there was no physical gold available for delivery.
ABN AMRO, the largest Dutch bank in the Eurozone, issued a letter to their gold contract customers of failure of delivery, and instead will pay account holders in a paper currency equivalent to the current spot value of the metal.
ABN AMRO, the biggest Dutch bank, has sent a letter to its clients stating that they will no longer be able to take physical deliveries of the gold they have bought through ABN. Instead they are offered money at the current market rate for gold. Basically, instead of owning a risk free, physical asset (a gold bar or a gold coin), the bank’s clients now own a monetary claim on ABN AMRO, being exposed to the bank’s credit risk.
http://www.examiner.com/article/largest-dutch-bank-defaults-on-physical-gold-deliveries-to-customers
CME Just Defaulted on a 200oz Gold Contract WITH THEIR exCEO!
An American futures exchange without even an ounce of physical for one of their own? ~1 week at most until the crash:
“Signs of extreme physical tightness in the gold and silver markets continue to intensify, with reports of banks and firms refusing their customers physical delivery of their own bullion increasing nearly by the hour.
The latest report comes from the CME’s former CEO Leo Mahlamed, who reportedly was refused delivery of 2 gold contracts Tuesday! Mahlamed attempted to stand for delivery of 2 April gold contracts (a measly 200 oz), and according to reports from the floor, the CME reportedly refused to physically deliver 200 oz of gold to its former CEO, and would only provide Mahlamed a warehouse receipt!”
Read more at http://investmentwatchblog.com
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ITS BECAUSE THE ELITE KNOW YOU STUPID SHEEP WOULD FALL FOR IT.
PLEASE, TELL ME HOW YOU WILL EAT GOLD TO SURVIVE!
YOU CANT! SO YOURE GONNA DIE AND I WONT(:
do you really think eating will be your only worry? you better have something you can spend or barter with, gold is too costly to use for food, silver will be the regular guys money, and I bet you I can buy some of your food with a piece of silver when the time comes skeeter
This only proves the real value of metals and the idiocy of people who purchase worthless pieces of paper that claim to be backed by gold. No story as usual by this guy.
Gold default?
Let us talk about China and India hoarding gold.
That is the REAL problem.
the real problem is fractional reserve banking, doing the same tricks with gold is the cause of this trouble, and soon you wont be able to buy any gold or silver for any amount of paper money lol you could buy lots of food with gold and silver though and while you cant eat gold or silver it will be one of the few things that will purchase food soon, well, if the dollar crashes further no one will have confidence in it any longer, and all scramble for metal or foods thats about it, nothing else will hold value, I suppose oil will for a while.
dont be fooled the price of tangible gold is atleast 2 grand the gold exchange was flooded with paper which means the gold price will suddenly explode when they remove the paper, this is robbery, i wont tell you how but you can make quite a lot of money off these robberies
So the fiat paper price goes down as supply cannot keep up with demand
Yes i can see that plan working long term and Sakeeta below can eat his fiat paper that anyone can print and I will keep my large stack of food and real money that cannot simply be plucked from thin air
Sakeeta needs to study a little history about gold and fiat paper, egg shells, tulips and tallow sticks before coming out with crap about who’s going to die
there will be plenty of supply once gold slides further down towards the 900 range. i know sounds crazy right? well be prepared its coming well before 2600-3000 range which will be the upside after a violent shake out. no one wants the general public to have gold as a hedge so they will shake out the weak and those that spent top dollar will be forced to remain sidelined since they will be overextended and psychologically battered having witnessed the drop. fear not it will sky rocket so quick so fast those who held on will be compensated handsomely. you will be tested between june-september but rewarded within 12-16 months. dont get greedy sell at 2600 2700 … good luck
thanks for sharing… I really like this site . i also use this site for gold and silver news.