SWISS BANK LOSES CLIENT’S GOLD
Don’t let your bank hold your gold. They might not find it. A gold investor told us recently that his Swiss bank had moved the client’s gold from the bank’s safe to a private vault in the name of the bank, in Zurich. The client was aware of this move. But then the problems started. The gold was allocated and the client had the bar numbers. The client wanted to store the gold through our company and instructed the bank. But the gold wasn’t there any more. The gold was supposed to be segregated but the bank had stored it in the collective vault. And the client’s allocated, numbered bars were not to be found anywhere.
https://goldswitzerland.com/swiss-ba...-clients-gold/
German Bank Refuses To Return Client’s 1/2 Tonne Of Gold
Following at least 10 similar reports to us of banks refusing to deliver clients’ physical gold bars, this week a very wealthy client sought to remove 500 kilos of his physical gold from a German bank for safekeeping in a secure, independent vault. The bank refused delivery of his gold bars.
https://kingworldnews.com/major-aler...physical-gold/
A Swiss Foundation Cannot Get Their Gold Out Of Their Swiss Bank
“In that
last KWN interview we drew particular attention to a German bank refusing to deliver 500 kilos of a client’s physically allocated gold. In this case, the 500 kilos only represented 10 percent of the client’s overall bank holdings. The condition laid down was that the client would first have to deposit an equal value of stocks, bonds, or cash to release the gold. Such a condition strongly suggested that the gold was in fact held in unallocated form and needed to be physically purchased.
Since drawing attention on KWN to this specific situation, we received many concerned phone calls where I advised people to do exactly what we suggested they do in our KWN interview, to test the water and to make a physical delivery request from their banks. As a result, we are now hearing of a slew of refusals to physically deliver anything of size.
So, we thought we would test the water. This week, a Swiss foundation sought delivery of their 420 kilos of gold (which is nearly 1/2 tonne of gold). They were refused. Seeking assistance, the bank was approached by a well-known vaulting partner with an offer to purchase the kilobars directly from the bank at a commercially acceptable premium to spot. This offer should have been immediately accepted as it would have been profitable for the bank. However, this offer was also refused, and the foundation was told to settle their gold account for cash. Clearly the foundation’s gold was not held by the bank in allocated form.
https://kingworldnews.com/wtf-is-goi...physical-gold/
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