EverBank Deletes the (Now) Infamous Section

Gordon_Gekko's picture

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Vendetta's picture

How else is the money power going to transfer the purchasing power from the West to the East (asia) but thru the physical market?  They've already transferred a huge portion of the wealth production (manufacturing) there.  They already built their new offices in the World Financial Center building in Shangai.  I thought everyone knew that.

nmewn's picture

More anecdotal bank encounters...LOL.

I dropped by my local brick and "mortal" BANK to break a hundred dollar bill so I didn't have to listen to the "I can't break a hundred" for a pack of smokes at the local shit & git.

I pulled into the drive through, dropped the bill in and sent it off...a moment later a cheery voice and a sweet face pops up on the CCTV screen and said "and what would you like to do with this"...overiding every males first instinct to such a question, I said just break it.

Then she asks me if I have my account number...looking at her perplexed I said I can't recite it off the top of my head and readied myself to launch into my patented "it's U.S. currency and your a damned U.S. chartered bank" doubt seeing my eyes narrowing...she asked how I would like it...again, fighting off conflicting thoughts and getting back to the business at hand, I said 20 somethings would be fine ;-)

My point is simply this...there are a lot of banks, virtual and otherwise, who seem to be under the impression they can change the "rules of the game" at will and put the onus on their is up to the people to not give into their never ending BS.

Great post GG.

Miyagi_san's picture

So this guy notified one person that HE guarantees delivery...thats a mighty fat white bastard thing to do. Soon as the SHTF he'll turn into Ken Lewis

AUD's picture

Spreads on COMEX gold have narrowed considerably in the last 12 months or so. I'd expect more outside spreads to show 'backwardation' first, no immanent catastrophe in paper but opportunity for profitable arbitrage between gold & $ has declined.

JW n FL's picture

^^ Thumbs Up!




***** 5 Stars!




Great Work!


and, I should Not! forget... Thank You! 

Dirtt's picture

Just playing devils advocate for a moment.  If the NY Fed and the cartels behind the gold ponzi scheme wanted a way out then wouldn't a massive deflation of the gold market be the first step?  And then to solve the 'inventory issue' wouldn't the confiscation of physical gold from US citizens at newly deflated prices be the second step.

And then for the third act wouldn't the NY Fed be inclined to sell the conficated gold from US citizens to the Chinese at higher prices to pay for <insert any cockeyed US Govt. scheme here>?

You say no?  They did it before.

bigkahuna's picture

I have kept as a theory that the federal reserve banks are currently forcing the price of certain commodities down in order to allow the Chinese to buy them up at low prices -- thus allowing the Chinese to lend us more money with the understanding that the Chinese will be made whole when the price of the commodities they bought at supressed prices goes through the roof as would happen when one day the world suddenly discovers that there are not say 10000 tons of gold(gold for just an example---please insert your favorite price manipulated commodity), but rather 999.99 tons. The dollar becomes worthless-- the Chinese have the lions share of the available gold--which is now worth many times it's "pre-hoax" value---many many many many times it's pre-hoax value. It would all be under the table (untracable)--and I believe it is going on right now and the clock is ticking. It will be one of those mornings when the vasst majority of Americans wake up and say WTF just happened? Who's gonna tell em' the truth? Nobody, thats who! I apologize, just another one of my paranoid theories to pester you guys with. Outside of all that, I wish you all a good holiday weekend and please take care...

DollarMenu's picture

I don't think there is enough gold in the hands of US citizens to make a mass confiscation worthwhile.  The real gold holders are out in the real world.

Here, people are selling their 'old jewelry' to raise cash.

I think that in the gold arena, the big players in the US are the fraudsters.

Gordon_Gekko's picture

The only thing they can deflate is the paper Gold market - at which point the physical and the paper will decouple so it won't really matter. As far as confiscation from US citizens is concerned, nothing is forcing you to stay inside the US.

decon's picture


Thanks for your efforts in gettting the truth out there. 


PM confiscation by the Gov. seems unlikely.  It doesn't back our currency and it's probably spread fairly thinly amongst the population making the cost effectiveness of retrieving it marginal.  It seems much more likely that they'd heavily tax gold transactions.  This of course would just create a black market economy related to the use of  PM's.

Gordon_Gekko's picture

You're welcome :-)

Yes, heavy taxation is one (indirect) form of confiscation. I'd much prefer the"black" market for my Gold, which is why I'd rather the govt. didn't know about my gold. What the govt. knows about it WILL steal.

Shameful's picture

Yep, can't wait to see if there will be a disconnect in the paper price that is only settleable in currency vs a freestanding physical market.  Think there will be at some point in the future.

Also I agree that don't need to stay in the USA.  Where are you looking at Gordon?  Though I also think that they probably won't go to gold confiscation just because there is not much gold held by Americans.  Plus if they try the widespread home invasion route they will run into guns a lot more then they would run into gold.  I could see them set an official price ceiling on the sale of gold in the US, but that is what the black market is for.  After all if they tried an announcement to turn in all gold like in the 30's I'm pretty sure most gold bugs would simply laugh at them.  Folks are not quite as trusting as they were back then, particularly goldbugs.

bronzie's picture

400 million guns in a country with 300 million citizens - are you willing to be one of the goons going door-to-door looking for gold to confiscate?

primus's picture

If the goons going door to door are under the authority of a branch of the US military and santioned by the state. All the talk about 'a gun behind every blade of grass' is misleading. Sure. We have lots of guns. The military has the weapons that vaporize cities. The only time they will be going door to door is after everyone has been starved to death or otherwise subdued. Resistance is futile.

Do any of you guys worry about where you buy your PM? I try to use different sources and buy in smaller quanities as not to draw attention.


boiow's picture

that's exactly what is happening. we are in the gold deflationary part now.  the cash4gold scams that are everywhere are the confiscation bit. there are several youtube videos on this.

i can't find the other one that i liked but it makes perfect sense that this is how they would do it.

deadparrot's picture

Has anyone had a bad experience with Everbank's regular checking and savings accounts? I switched to Everbank several years ago and have had good experiences thus far.

Crime of the Century's picture

I wouldn't worry about using them as a banking entity if Bank Rate has them as above water. The whole point of the Everbank Metals Select (potential) perfidy is not to trust a 3rd party for custody of your metals.

Millivanilli's picture

Fucking lawyers write contracts that basically allow their criminal bosses to be exempt from running a scam.   This is the AGE OF FRAUD.

Shameful's picture

Fraud is the main export of the USA and the main aspect of business in the US.  If you take fraud away from America all that will be left is porn and donuts (H/T to Max Keiser)

bigkahuna's picture

The US also exports butt-kickins' Not saying it is a good thing by a long stretch--but it seems we are in the business of exporting war.

Shameful's picture

Not well.  Officially we are getting worn down by guys right out of the iron age, and guys making bombs in their back yards.  Also the Pentagon noted how unfit American youth are for service.  According to a statement from them that got released, I think they said only 5% of the youth were fit to serve.  A might combination of obese, drug addicts, and idiots.  We get caught in a big fight and I think the world will be quite surprised to find us a paper tiger even with all our spending.  We have no depth.  We cannot mobilize more men very fast and if we sustain heavy losses in men or material we would be hard pressed to replace them compare that to China for example.

Howard_Beale's picture

The US started allowing positive drug testers and meth-heads to serve in the last 5 years. They are that desperate for bodies.

But lest we forget, we really don't need men on the ground if shit really hits the fan. We got those new chili's 10000 times stronger than the last big chili--and that will be a wonderful chemical weapon.

HungrySeagull's picture

That weapon comes from India.

It is only apropos that a Nation built on Sex should then turn to food as a weapon.

calltoaccount's picture

Most people who don't follow ZH have only an inkling of the calamity that has befallen their investments, their life savings, and the US and world economies.  They have almost no idea of the impact it will have on their future safety, security and wellbeing-- and that of generations to come, if the status quo is allowed to continue.  

For those who prefer knowledge to ignorance (or denial), here's a brilliant must-read report from David DeGraw comprehensively deconstructing the capture, looting and financial enslavement of America and 99% of its citizens:


john_connor's picture

Aside from physical gold, people should accumulate foodstuffs, water, gasoline, and arable land.  More importantly, people need to have the resources to defend such property.

This is about who takes the loss first on the biggest ponzi scheme in history, and officials and plutocrats will do everything in their power to 1) not take the loss, 2) perpetuate the ponzi, and/or 3) force citizens to take the loss thru increased taxation, property seizure, currency devaluation, or all of the above.

We are at war, and people are slowly figuring that out due to smart people like GG and various other independent bloggers.

Godspeed to all and happy Easter weekend,


trav7777's picture

All the gun nuts need to watch Dr. Zhivago.  Seriously.

These events have happened before.

Blindweb's picture

Definitely.  I always think of them stuffed in the train trying to get out of the city.


You're better off spending your money on training...  Go to school to be a doctor or an engineer; gun and martial arts training.  Build up your health now with the most nutritious foods.  You want to be as adaptable as possible.  Keep your wealth locked inside your mind and body where no one can take it from you.  Anything stocked in abundancy will be taken from you if it's accessible.   

Use PMs to try to make your escape before it hits.

DoChenRollingBearing's picture

Maybe it's Gordon Gecko who is really doing God's work.

+600 to all above remarks about how the banks will truly screw us WTSHTF.

Au.  ammo.  FRNs.  All in physical possession only.

Treason Season's picture

EverBank® is offering a MarketSafe® CD in gold, a new and completely safe way to invest in Gold, where yields are driven by the average spot price of gold bullion, and deposited principal is never subject to market risk.

From Mike Shedfield Thursday, August 23, 2007

girl money's picture

Your experience with Everbank will soon be the norm at Every Bank.

My mattress is now sitting a few inches higher.

GBruenetti's picture

Wow! You must have either a very small mattress or a very solid bedframe!

Assuming a regular mattress size (in Europe) of 2m x 1m, every inch of yellow metal would weigh around 1 metric ton.

So "several inches" must be at least two tons. That should give you a very "solid" sleep - unless you care to post the address of your mattress here :-)


HungrySeagull's picture

Forget the weight of the matress. Watch out for the caliber and fangs gaurding it.

elmechanic's picture

Section cracks me up.

" acts of God"

Are they talking about Goldman Sachs? They're doing god's work you know!


bronzie's picture

I had money in an Aussie-denominated account with Everbank - when I withdrew the money I asked for payment by check via the mail - the check didn't show up in a reasonable length of time so I called customer service - after the representative chastised me for requesting payment by mail (no, I'm not kidding) I was given these options:

> buy a bond at my expense covering the amount of the check - send the bond to Everbank and they would then cut me another check - the cost of the bond would have been about equal to the amount of interest I had earned on the account

> wait 90 days and, if the check was still lost, they would then cut another check

I told the service rep that I would start an email campaign to all the financial advisors recommending their products and describe my experience with their bank - the agent said that I should do whatever I had to do and we ended the phone call - literally 2 minutes later the rep called me back and told me that they would cut me a new check and have it in the mail the next day

I got my money back but based on this experience I wouldn't touch Everbank (or any other internet bank) with a long barge pole


Rick64's picture

Good for you. You have to play hard ball with these banks and any other corporation today. Remember you hold the power, and remove your holdings from banks (cash,gold, any valuables).

 GG great proof that these institutions play word games and usually aren't called on it. The people need to starve these institutions. If I had any holdings in this bank I would pull them immediately.

MarketTruth's picture

Too late, have already had everyone i know pull their funds/investment out of EverBank and go physical.

If you don't hold it, you don't own it.

velobabe's picture

i applied to everbank for an online account. didn't know it at the time, but they did a HARD credit report on me. they checked my credit to see if i was rated high enough to put my money in their bank. WTF. i called them up and told them to remove it and they wouldn't. than when i thought there was a bank run in fall 08, i wanted to get it all out. they told me i could only withdraw $100,000. just ONCE a month. all these virtual banks have hairy fairy shit going on. HSBS same. you can put as much as you like IN, just can't get it out.

MarketTruth's picture

Am not surprised of course. On a related note on ZH, Money Market funds recently enjoyed a newly passed law that allows them to FREEZE your funds and lock you out. Get out of Money Market funds ASAP.

Hephasteus's picture

"This language was not intended to allow EverBank to close your Metals Account arbitrarily or without good reason. This technical contract language was added to clarify EverBank's rights in the event that unforeseen circumstances necessitated a change in EverBank's ability to act as custodian for precious metals purchased by you through EverBank. Given the concerns that have been posted and the fact that we do not foresee any likely circumstance that would affect our ability to continue to serve as custodian for your precious metals, we are in the process of deleting Section from the EverBank Terms and Conditions in its entirety and notifying customers."

Well aren't we just a bunch of special fucks. Let's just get this language in mortgage contracts. The holder of this mortgage relinquishes all rights to collect this debt given "unforseen circumstances" such as a global monetary system based entirely on fraud that necessarily self fucking destructs occaisonally after all it's problems are hidden in deeper and deeper fraudulant accounting and bank illiquidity causing you to lose your job and not be able to replace it.

Apocalypse Now's picture

Beware gypsies selling legal contracts disguised as gold, it's really fools gold.

Their attorneys and long legal language in essence provide them with clauses to steal.  As Harry M. said after 8 years of reporting the Madoff scam with no action, the system is not looking out for you.

Keep giving them hell GG.

GLD & SLV are operated by the banks with the largest short positions.  After the revelations, everyone should understand that this is a tool to suppress PM prices as demand is diverted in paper traded 100 units to 1 unit of gold.  That means if everyone sold all their paper instruments and bought physical gold, the value would go up dramatically - there isn't enough gold to go around. 

I understand the fed imperative to moderate all prices in general from greed & fear, but it makes no sense to have allowed equity and housing prices to inflate on fed provided liquidity while only moderating gold. The only way that makes sense is to understand that the bankers make interest on margin for equities and interest on home loans.  They make no interest on physical gold. They must be afraid of a currency collapse event.

Gold and silver in your ownership, physical (I like APMEX) and CEF are recommended along with some miners. 

As for oil, I like it long term but believe the structural issues with Russia, Iran, and Venezuela depending on oil & gas exports as a major part of their economies might be strong enough reasons to crash those commodities at the right time (if even possible once/if the gulf state currency begins).

I think CLNE is starting to get traction as a longer play (Boone Pickens natural gas distribution for fleets).  Going from solid (coal) to liquid (oil) to gas makes intuitive sense and gases like methane can be captured from dumps and cattle to be used.  If global warming is just cover for peak oil and transitioning to alternative energies to reduce dependence on foreign unfriendlies, it makes more sense.  Drill baby drill.

I look at energy and precious metals as more stable/appreciating long term asset classes that will always have value.


aurum's picture

, but it makes no sense to have allowed equity and housing prices to inflate on fed provided liquidity while only moderating gold. The only way that makes sense is to understand that the bankers make interest on margin for equities and interest on home loans.  They make no interest on physical gold. They must be afraid of a currency collapse event.


it makes sense to me..if they didnt surpress the prices, the ponzi scheme that allows the powers that be to extract billions of tax payer dollars at whim would end...the financial world would collapse for a period of time and chaos would ensue as fiat money (all types) would experience a run.

Dirtt's picture

Peak oil.  That's funny. We aren't running out of oil in my 'expected' lifetime.

You didn't get the memo on Global Warming or on Cap and Trade?  Jamie Dimon and Lloyd Blankfein et al and the cartels who pull their strings were using both eventual criminal rackets to usher out a plethora of new financial vehicles (derivatives) to replace the ones that worked magic on US Housing.

Mr. Dimon is not the genius everyone thought he is unless buying an entire Congress can be compared to the works of Albert Einstein.  That being said he is smart enough to know that climate changes and that CO2 is necessary for the plants to thrive....and they do kick out oxygen for us in return. Fair trade.

Now that the mortgage racket has screwed middle america the Banksters are eyeballing their grandchildren with Global Warming and their great great grandchildren with Cap & Trade.

That's the truth. I thought everyone posting on ZH knew this already.

Hulk's picture

You need to read anything by Prof Deffeyes

Frank Owen's picture

Peak oil. That's funny. We aren't running out of oil in my 'expected' lifetime.

That you imply that peak oil is the same as "running out" is laughable.

Peak oil is not about oil running out. It is about supply not being able to meet demand.  The graph above clearly shows the US (and many, many other countries) has been past peak for sometime.  Worldwide, we're going through around 85 million barrels a day. It doesn't matter how much oil there is in the tar sands or shale because again the main challenge is supply matching or being more than demand. I am not a fan of that cap and trade crap but to think that oil is regenerative or an unlimited resource is delusional.



Rick64's picture

Right. What they mean by peak oil is easily accessed oil which is cheap to refine. There are different grades of crude also which factor in too.

Treason Season's picture

"Keep giving them hell GG." Seconded!