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WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!

 
THE WTF GUY !!
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09/28/2008 07:56 PM
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WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
[link to www.investmentrarities.com]


The Sensible Swiss

This week I received an e-mail from a Swiss money manager, a friend and trusted source. He informed me that a very large and conservative Swiss bank had informed a number of their clients that they would no longer be offered paper gold or silver certificates in the bank’s name. It seems the bank had previously granted the accounts because it was able to protect itself against an upside move with a derivatives contract with another financial institution. Due to the financial turmoil, the bank was no longer comfortable with the counterparty risk from the other financial institution. Instead, the Swiss bank informed its clients, all paper transactions had to be converted to physical or physical ETF positions (There are Swiss ETFs for gold and silver). My friend informed me that other Swiss banks were likely to follow this bank’s lead.

As long-time readers know, the issue of bank silver certificates that were not backed by real metal is one I have written about frequently

[link to www.investmentrarities.com]

[link to www.investmentrarities.com]

In essence, the banks that issued such certificates were short the metal, and taking an enormous risk in the event of a sharp price rise. Because they had been issued for decades, the cumulative amount of the short position in silver amounted to, perhaps, billions of ounces. This was a short position separate and distinct from the massive COMEX short position.

That the large and conservative Swiss bank is seeking to reduce or eliminate it’s short exposure to silver at this time makes sense. The bank has seen that silver prices can move sharply higher and that counterparty guarantees can vanish in an instant. It is sensible and practical that it would take such actions now, after silver prices moved sharply lower.

The resultant move by former paper owners of silver into real metal is destined to put additional pressure on the existing supplies of metal. It is hard to imagine a more critical time for this to occur than now. Every indication is one of tightness in the physical silver supply. The potential creation of a brand new source of silver physical demand could be profound.
Anonymous Coward
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09/28/2008 08:04 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
Gold went up @ 80-90 bucks one day last week and around
60 of that was in 45 minutes--the day before the"legals"
said no bank/finance co can have any uncovered(asset/security)on their books.

Freaking rigged game.
Anonymous Coward
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09/28/2008 08:06 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
GLP: Thread: HOLY MOLY!!! BANK CLOSURE POSSIBLE & GOLD CONFISCATION IN THE PATRIOT ACT!!!!

GOLD CONFISCATION ON PG 17 OF THE US PATRIOT ACT
Me114

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09/28/2008 08:08 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
[link to seekingalpha.com]

this helps explain how they were controlling it, this post here is good news that, that control is breaking down!!

The Disconnect Between Supply and Demand in Gold & Silver Markets
:ura:

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Mona Lisa
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09/28/2008 08:11 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
If true, a real revolution and reasons to be very very very much concerned. Thanks OP.
Rota
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09/28/2008 08:12 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
[link to seekingalpha.com]

this helps explain how they were controlling it, this post here is good news that, that control is breaking down!!

The Disconnect Between Supply and Demand in Gold & Silver Markets
 Quoting: Me114

You are right. This is big. Without paper silver and gold that does not exist the NWO looses control of everything. No more rigging the markets with fake assets.
Me114

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09/28/2008 08:15 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
[link to seekingalpha.com]

this helps explain how they were controlling it, this post here is good news that, that control is breaking down!!

The Disconnect Between Supply and Demand in Gold & Silver Markets

You are right. This is big. Without paper silver and gold that does not exist the NWO looses control of everything. No more rigging the markets with fake assets.
 Quoting: Rota 512039



yep, and without that they can not prop up or rather press down gold on comex!

lets hope!
:ura:

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I Unknown Depths of Love, You.
What Happens Next Loves me.
Help me Jesus, Life will let me know.
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ANNONYMOUS
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09/28/2008 08:23 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
5a

IMO this is bigger than huge. I have maintained for a long time that if every paperholder was forced to come up with specie (actual metal) by the other side the prices of metals would go ape shit. And the paper market would dissappear over night. The fact that the Swiss have taken this move adds huge impetous for other banks to do the same thing will see metals reach their true pricing and end the market manipulation that has taken place for years. Now it would be nice to see an investigatory body substantiate the rigging and declare that anybody who lost money here has the right to reclaim it from the source that expedited it. Try the Ricoh Act here in the U.S. on for size.
double WTF with cheese on top
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09/28/2008 10:31 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
This is a massive double WTF with cheese on top.

To me this shows that banks know where the next 'problem' is going to occur. The very idea of 'borrowing' or 'leasing' someone else's gold or silver by definition suppresses the market as it makes it appear that there is more gold or silver available than there really is.

When this explodes and people start to ask for real delivery the US institutions involved are screwed big-time. Anyone know who the big players are in all this. Goldman Sachs?, JP Morgan ?

This is why the patriot act has a provision in it to make it illegal for people to own gold and I think silver. Question is will governments worldwide sign on to the same deal.
Anonymous Coward
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09/28/2008 10:36 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
This is a massive double WTF with cheese on top.

To me this shows that banks know where the next 'problem' is going to occur. The very idea of 'borrowing' or 'leasing' someone else's gold or silver by definition suppresses the market as it makes it appear that there is more gold or silver available than there really is.

When this explodes and people start to ask for real delivery the US institutions involved are screwed big-time. Anyone know who the big players are in all this. Goldman Sachs?, JP Morgan ?

This is why the patriot act has a provision in it to make it illegal for people to own gold and I think silver. Question is will governments worldwide sign on to the same deal.
 Quoting: double WTF with cheese on top 71715


Exactly : that is what derivative , futures and short are all about :

AN OPEN FREE FAKE GOLD MARKET !!!

tHE MAIN PURPOSE : MULTYPLY GOLD WITH GOLD PAPER , CERTIFICATES , FUTURES AND DEPRESS THE PRICE !!

damned
Anonymous Coward
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09/28/2008 10:40 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
gold is silence
Rota
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09/28/2008 10:40 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
The bad thing about this is if this takes hold then the Wall Street is screwed and our criminal Congress will confiscate all gold from the peasants to hand over to Wall street. I think with this bailout they have shown us just who they answer to and it aint us.

On another note I'm watching Barney Frank on C-Span trying to explain the bailout. Here is a guy who decided running a gay brothel out of his apartment might be a good economic move....a real money maker for him. It just gets so insane.

.
Kanigo2

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09/28/2008 10:41 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
WTF!!! WTF!!!
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Anonymous Coward
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09/30/2008 01:56 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
The paper certificates are simply another form of fraudulent fractional banking in that they only need a small physical 'reserve' in order to sell massive quantities of certificates. In addition with the US Givernment having the ability to confiscate gold it is far more prudent to demand physical assets than more worthless paper. The price of gold and silver is being supressed in order to help float the stock market and give those irrational 'bumps' that come even on exceedingly bad news. The plunge protection team is desperate, Wall Street is desperate and if the whores in CONgress vote in the bailout this will only be chapter one in the raping of the Reublic by the criminally complicit FEDERAL RESERVE and crooks on Wall Street. REMEMBER only buy gold in small quantities in cash that cannot be traced/reported for later seizure.
Anonymous Coward
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10/01/2008 07:15 PM
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Re: WTF !! WTF !! SWISS BANK STOP TRADING SILVER-GOLD CERTIFICATES ONLY PHYSICAL !!
bump

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