Easter surprise for the precious customers at the largest bank in the Netherlands - ABN Amro: The financial institution announced its precious customers succinctly in a letter that the physical delivery from April 1 was no longer possible. This is not only for gold but also for all other precious metals such as silver and platinum. What looks like it could be an April Fool's joke is, unfortunately, now a reality at ABN.



The letter assured the bank's customers: You should not worry. The gold at ABN is in safe hands. The only difference is that there will no longer be delivered. For this, the customer pays only the current rate paid in cash.


It was further stated in the letter that would actually change for the customers 'nothing'. Except for the fact that they would get for their gold now only paid money



Whether this small but important difference is accepted by the customer as is likely to be questionable. After all, who buys gold at a bank, and it can store there will, at the end certainly not be paid in paper money. For the precious metal buyer's motivation is precisely to pass in doubt to the physical delivery. This however is no longer at ABN Amro. The Bank relies on fine print in their terms and conditions under which it always has the right to send money instead of gold.


The measure sparked speculation that the Bank has the gold, which they allegedly bought for customers actually purchased.


The example ABN could set a precedent. At Deutsche Bank and Commerzbank, but it should obviously be no plans for gold only cash out money. Experts point out, however, that in the terms of German banks also hidden clauses are possible, according to which, under certain circumstances, the Bank held physicher delivery could also pay a corresponding amount of money.


In Switzerland, there were isolated cases already reports that banks refused to surrender and instead of precious metals auszahlten the equivalent value in cash. This should however not be in the interests of the precious metal saver, which is preparing for the crisis.

[link to www.mmnews.de]

[link to homment.com]