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Another Gold Shortage? Dutch ABN To Halt Physical Gold Delivery
Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals."
Via Google Translate,
Changes in the handling of orders in bullion
On 1 April 2013,. ABN AMRO to another custodian for the precious metals gold, silver, platinum and palladium. This we your investments in precious metals otherwise handle and administer. In this letter you can read more about it.
What will change?
With the transition to the new custodian will include the following from 1 April 2013 for you to change.
• You can have your precious metals to your investment account no longer physically let us extradite
• Gives you order in precious metals via the giro ABN AMRO? Then the settlement of orders that henceforth performed at bid prices or at the offer prices prevailing on the market for precious metals. No longer based on the mid-price, as you used to.
• The bid price is the price that merchants offer for precious metals that are offered for sale, so if you sell.
• The ask price is the price at which traders want to sell precious metals, so if you buy.
• We are the positions in these precious metals in your investment statements against future bid prices appreciate
You can read more about investing in precious metals in Chapter 4 (Supplementary conditions for investing in precious metals) of the Conditions Beleggersgiro. You can find these at abnamro.nl / Conditions invest
Should I do anything?
You need do nothing. We ensure that we have your investments in precious metals now the new way to handle and administer.
(h/t MDG by way of Frank Knopers)
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We don't have your shit, we are fucked and so are you.
Trust us.
They will settle in Tungsten...
en we mochten ook al geen goldmoney account meer hebben....
and we were already not allowed to have a goldmoney account....
Good that they protect us from stupid investments in relics..
LOL. What are you guys complaining about? If Germany has to wait 7 years to get their gold, you should not expect a speedy delivery (or at all) either.
I'm actually starting to think that the 'Annunaki' have airlifted most of the gold off this planet & we're left here to duke it out with joobux for having not bowed down to "Zod" the lizard lord at some critical moment in history...
The lizard king, the snake is long, doors of perception, Huxley.
Sorry, I get carried away in the stream of consciousness sometimes.
Back to the Earth Chronicles -- we are all gold miners now.
Perfect. They hold my gold. I hold their cash.
Actually, I don't. I use it to take delivery of real gold.
Is YODA the Google translator?
You need do nothing. We ensure that we have your investments in precious metals now the new way to handle and administer.
Ain't that the "Old Way" of stealing.
Q. How do you say "Fuck Off" in Bankster?
A. Trust me
Braha ha ha ha
ROFL
I see no problem here. It's just a blue-chip company keeping in touch with its valued customers. There must be a reasonable explanation for this communique, and that must be, THERE'S NO GOLD! PANIC! GET OUT TO SAVE YOUR LIVES!
Banks keeping the (dutch) gold, keeping the (cypriot) money.
CONfidence is gone.
It puts the paper in its wallet. If it asks for gold it gets the hose again.
That was the signal I was looking for to pull the trigger with the last of my fiat. It has been said time and time again, don't keep your gold or silver within the banking system! If you don't physically possess it, you don't own it!
The EU bigwigs are in full panic mode right now, and they are going to fly this bitch, on full afterburner, straight into the ground. Make no mistake about it. But before hand, they are going to tell you that the flight is on time, with only some light turbulence expected...while at the same time they double lock the escape exits and confiscate as many parachutes as possible. There is little time left to jump people. Get your phyzz before it's too late!
I think I need to update this?
http://www.youtube.com/watch?v=PqvDUEVbIbk
Input fellers?
Everyone who has no gold in their portfolios get out now!
Timely.
LOL
Tanks!
is it just me or is this thing truly accelerating?
Gold shines in Dubai as trade said to hit record $70bn in 2012
"Dubai’s gold trade is estimated to have exceeded $70 billion in 2012, hitting record highs as more of the precious metal is exchanged and stored in the emirate.
Official figures show the gold trade was worth around $56 billion in 2011, and the figure for last year is estimated to be at least 25 percent higher."
http://english.alarabiya.net/en/business/2013/03/24/Gold-shines-in-Dubai...
Of course this is meaningless...
Hmmm, looks like they be in for some "instability". Gaddafi style.
Silver For The People
The Bitcoin Channel
Spring is around the corner, and scuba gear is being readied across the country to verify that the decentralized ZH stash survived winter intact.
Great visual! Straight down at full afterburner.
That will leave some mark. hujel
Harder to translate than Galactic Basic, Dutch is. Yes, hmmm.
Can somebody translate the translation for me? You'd think ZH had access to a righteous translator rather than relying on a Google translation from Chinese to English as the fourth iteration.
Safe your gold is. Or is it...
funny thing about a finite supply of real money,
it's unaffected by every mistake and fraud perpatrated with jewbux in every country around the globe.
gold stands tall where all others fall.
Gold and Silver will be the last man standing.
Men? But, yes... :)
AnonymousCitizen
Correct. Take their gold with cash. 2013's best trade. And the Dutch economy is slowing now...
Cash in a European bank??? Or gold? Hmm. Duh.
ROFL!
Yes, what other reason could there be?
If no one can deliver physical gold, why? Where is it?
You ask us, how and why it was sold 100 times the amount of underlying physical?
To supress the apparent price with HFT traded paper gold promise.
'Annunaki'?
Darn, there goes the neighborhood.
Fuckin' kinda shit ALWAYS happens...
7 years to get 300 tons which is just 3 Lufthansa flights. And the Fed claims to be holding 6720 tons in its vault.
Goldnazi says no gold for you ... not for seven years.
"You come back, seven years!"
Do you think they have special flight paths for bullion flights like that? I mean what would happen if it crashed over a very deep part of the ocean and all. Personally I'd opt for sumbarine, since it's already sunken and all.
If Germany has to wait 7 years to get their gold, you should not expect a speedy delivery (or at all) either.
No one said they HAD to wait, it was posted as their decision.
You think Chavez got theirs faster than Germany would if they said NOW?.
No way.
Turns out, the Chavez chap was right all along, rip.
Precisely why he was cancered.
Just sayin.
+ 1 DosZap
Yes, if Germany PUSHED, my guess is they could get their gold now.
DoChen I have the greatest respect for you but I don't agree. The failure to deliver the German gold instantly was the biggest warning sign there could be. You would have thought they would have made delivery quick and painless to maintain confidence. The fact that it is purportedly taking 7 years tells me that it is all over. Like the theft of deposits in Cyprus it is a "no going back from here" moment. In years to come I believe we will point to these months, and the events chronicled on this blog, and say to each other (those of us who survive): "That was the turning point".
I have no way of knowing, that is just my guess. I have thought we were at "the turning point", ever since, well, uh, Jimmy Carter...
If this IS the moment, it will LOTS OF FUN sorting all of this out in the coming weeks, months, years...
The Bundesbank and the Fed are involved in an epic '69'.
Not hard to believe that Ben Shalom would have asked for a reach-around on this one - nor that it would have been granted. The Fed is backstopping EU banks and keeping the hot money flows alive (as ZH has exposed numerous times).
Edit: heading over to Apmex now to... well... you know...
The U.S. and France had to invade Mali to get gold to fulfill Germany's request, or rather to steal Mali's production. It's no coincidence that Mali's gold production adds-up to ~300 tons over 7 years. I imagine Libya's gold could have went to fulfill Venezuela's request but who knows...
wow
Well, if they can't deliver then let's get physical, with 7 years of tongueston, daily.
Never ever give tungsten to a German! We know some of the best ways to use it! :)
Please remain calm. This is only gold. It really is a relic but just in case you expect delivery, we want you to expect momentary delays....perhaps in the range of "decades".....
We will deliver your gold by drone if you insist.
I am a little confused.
Per the link in the “might enjoy” below..
http://www.zerohedge.com/article/1-billion-gold-bars-taken-delivery-pension-fund-due-risk-comex-default-and-shortages
Who has “taken delivery” of the pension fund's gold now.. did they.. or the Fed.. or the magic unicorn?
When I see the Fedex guy, I know what absolutely, positively delivered means.
What does it mean to a banker.. or a fiduciary?
Oh, I get it .. banker and responsible/accountable fiduciary are oxymorons.
A bird in the hand is worth two in the bank, er bush.
ManThong,
Who has “taken delivery” of the pension fund's gold now.. did they.. or the Fed.. or the magic unicorn?
The Comex has it in the vault in NYC, Texas has requested it be RETURNED to the state.
WE will get the Gold.
On that note, has anyone heard if the Krauts (or anyone for that matter) has actually held even a flake of repatriated Fed gold yet? Last I heard they got a bunch of pallets full of IOU's......
"All your ass is become ours!" -Shinzo Bernanke
Um, Dos..
“WE will get the gold.”
Brings to mind a blast from the past.. an oldie but goldie... from the vaults of A.D. 1720..
“…We want our money on the nail;
The banker's ruin'd if he pays:
They seem to act an ancient tale;
The birds are met to strip the jays.”
… “So powerful are a banker's bills,
Where creditors demand their due;
They break up counters, doors, and tills,
And leave the empty chests in view.”
It doesn’t get any better than this. :-D
http://www.readbookonline.net/readOnLine/38875/
On the tip of a Hellfire?? no thnx......
Hellfire Express.
Go long on spent Uranium.
"We will deliver your gold by drone if you insist."
More like we will deliver you a monster box of silver via hellfire missle.
"centuries"....
Just buy the phyzz. There are enough bullion shops in the Netherlands. E.g.:
http://www.doijerkalff.nl/
http://www.hollandgold.nl/
http://www.amsterdamgold.com/
http://www.thesilvermountain.nl/
Just make an appointment and pay for your phyzz in cash and take delivery in person.
Disclaimer: I am not affiliated with any of these companies.
"Weird scenes inside the gold mine..."
"The young child's fragile egg-shelled mind ..."
more and more we're going to see cockroaches like these thieves scurrying around trying to hide from the sunlight of openness, transparency and honesty. More and more revelations of bankers changing policy in the face of reality that they do not have the gold... how could they when it's part of a fractional deposit system, pledged 100:1. Anybody with a paper ETF or voucher is a bloody fool!
ABN is a massive bank with more than 400 billion euros in assets and more than 24,000 employees per Wiki
Ha ha ha, he said "assets". LMAO.
They have assets but they are re-re-re-re-rehypothecated.
DERIVATIES ARE ALSO QUALIFIED ASSETS FOR ALL FINANCIAL INSTITUTIONS <=== BENJAMIN SHALOM BERNANKE
Hmmm... wonder what this will do to the price of gold & silver?
Bearish. (in my Eeyore voice): It's always beeearrrrish.
this is a tough call actually...and while you certainly don't have to hear me out i certainly recommend you "think it out." we have been suffering from a "denial of reality attack" for some time...but this appears to be filtering away. in other words "you don't use euro's" do you? so "what is the gold going to be used for?" LET US GO TO THE VIDEO TAPE! http://en.wikipedia.org/wiki/Dutch_guilder (translation for guilder is...yep...GOLD.) can they do gold money though? i am unclear...have to wait for the smoke to clear and get a good view of the derbis...
Shekel = (at a time) .35 oz Ag
Pound sterling = self explanatory
Drachma = "fistful" bronze / iron / etc.
Mark = 8oz mainly silver & as unit of account in England
Yuan -> Kuai -> lump of silver
but of course, all symboiic in one way or another. the point is they all had a value based on bullion. Very interesting book is David Graeber's Debt: The First 5,000 years. While he considers himelf an anarchist + the book's conclusions are dubious, the history of debt (which precedes coin & barter) 9s fascinating.
Coin comes into being around 600 BC - telling because it is a time of breakdown of civilizations. As systems, & faith in systems deteriorates, coin comes into play (seized from temples). Parallels for today are obvious.
Shekel = (at a time) .35 oz Ag
Pound sterling = self explanatory
Drachma = "fistful" bronze / iron / etc.
Mark = 8oz mainly silver & as unit of account in England
Yuan -> Kuai -> lump of silver
but of course, all symboiic in one way or another. the point is they all had a value based on bullion. Very interesting book is David Graeber's Debt: The First 5,000 years. While he considers himelf an anarchist + the book's conclusions are dubious, the history of debt (which precedes coin & barter) 9s fascinating.
Coin comes into being around 600 BC - telling because it is a time of breakdown of civilizations. As systems, & faith in systems deteriorates, coin comes into play (seized from temples). Parallels for today are obvious.
Shekel = (at a time) .35 oz Ag
Pound sterling = self explanatory
Drachma = "fistful" bronze / iron / etc.
Mark = 8oz mainly silver & as unit of account in England
Yuan -> Kuai -> lump of silver
but of course, all symboiic in one way or another. the point is they all had a value based on bullion. Very interesting book is David Graeber's Debt: The First 5,000 years. While he considers himelf an anarchist + the book's conclusions are dubious, the history of debt (which precedes coin & barter) 9s fascinating.
Coin comes into being around 600 BC - telling because it is a time of breakdown of civilizations. As systems, & faith in systems deteriorates, coin comes into play (seized from temples). Parallels for today are obvious.
Go ahead. Say that 4 more times. 5? You're dead.
Shekel = (at a time) .35 oz Ag
Pound sterling = self explanatory
Drachma = "fistful" bronze / iron / etc.
Mark = 8oz mainly silver & as unit of account in England
Yuan -> Kuai -> lump of silver
but of course, all symboiic in one way or another. the point is they all had a value based on bullion. Very interesting book is David Graeber's Debt: The First 5,000 years. While he considers himelf an anarchist + the book's conclusions are dubious, the history of debt (which precedes coin & barter) 9s fascinating.
Coin comes into being around 600 BC - telling because it is a time of breakdown of civilizations. As systems, & faith in systems deteriorates, coin comes into play (seized from temples). Parallels for today are obvious.
Shekel = (at a time) .35 oz Ag
Pound sterling = self explanatory
Drachma = "fistful" bronze / iron / etc.
Mark = 8oz mainly silver & as unit of account in England
Yuan -> Kuai -> lump of silver
but of course, all symboiic in one way or another. the point is they all had a value based on bullion. Very interesting book is David Graeber's Debt: The First 5,000 years. While he considers himelf an anarchist + the book's conclusions are dubious, the history of debt (which precedes coin & barter) 9s fascinating.
Coin comes into being around 600 BC - telling because it is a time of breakdown of civilizations. As systems, & faith in systems deteriorates, coin comes into play (seized from temples). Parallels for today are obvious.
Shekel = (at a time) .35 oz Ag
Pound sterling = self explanatory
Drachma = "fistful" bronze / iron / etc.
Mark = 8oz mainly silver & as unit of account in England
Yuan -> Kuai -> lump of silver
but of course, all symboiic in one way or another. the point is they all had a value based on bullion. Very interesting book is David Graeber's Debt: The First 5,000 years. While he considers himelf an anarchist + the book's conclusions are dubious, the history of debt (which precedes coin & barter) 9s fascinating.
Coin comes into being around 600 BC - telling because it is a time of breakdown of civilizations. As systems, & faith in systems deteriorates, coin comes into play (seized from temples). Parallels for today are obvious.
Shekel = (at a time) .35 oz Ag
Pound sterling = self explanatory
Drachma = "fistful" bronze / iron / etc.
Mark = 8oz mainly silver & as unit of account in England
Yuan -> Kuai -> lump of silver
but of course, all symboiic in one way or another. the point is they all had a value based on bullion. Very interesting book is David Graeber's Debt: The First 5,000 years. While he considers himelf an anarchist + the book's conclusions are dubious, the history of debt (which precedes coin & barter) 9s fascinating.
Coin comes into being around 600 BC - telling because it is a time of breakdown of civilizations. As systems, & faith in systems deteriorates, coin comes into play (seized from temples). Parallels for today are obvious.
?Ummmm.......multipost much? "Enter" key stuck
7 copies, and people gave the same greens and a red to each one.. made me raff.
"wonder what this will do to the price of gold & silver?"
oh you mean the phony paper price, right???
trade sideways for the next 3 years....
fucking hilarious...
i got and am still gettin mine...................so long you cocksucker mother fucking bankers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Investment value FAIL.
Today's word is systemic boys and girls.
I think that's what MF global aka john the slime corzine told Gerald celente before they robbed his account and went belly up
ABN Amro sees lower gold prices in 2013 and 2014 | ArabNewsI'm gonna get rip roaring drunk and piss on a bank when the fractional gold/silver trade blows the fuck up
Swiss right-wing forces referendum on banning SNB gold sales No shit?What an excellent idea - piss on a bank. Why don't we all do it? If you're the shy type just take a little tinkle on the bank's front lawn. If you're more aggressive the mortgage desk would be a great place to drop a steaming pile.And if you do get arrested for public indecency, I think that your speech to the judge just about writes itself, don't you? ( Oh, and you might just want to drop a load on the court for good measure. Just like bankers, they really, really need to know what people think of the system they perpetuate.)
Joebloinvestor:
We're not like the others.
- Ned
Things are about to go from worse to catastrophic.
Amen brother Buck.
This whole situation is being buried in the media. A full court press to keep people from seeing or talking about the crunch which has already taken place.
The time-line is past the event horizon.
We are living on imaginary enertia.
Yes, the whole thing is being buried in the media. I agree that the event horizon is already behind us...
@Buck Johnson
"Things are about to go from worse to catastrophic."
There will be a day soon when you BEG for the Bernank to return and save us all...bwwwwwaaaahaaahaaahaaa!!!!
If you arent holding it you dont own it!
Don't worry, it's all invested in Cyprus. Completely safe! In a "lock box."
NO GOLD FOR YOU TODAY.....NEXT !!!!
in other words, its long gone, and you are fucked.
ALL IS WELL
Sincerely,
The Honorable Jon Corzine
Biggest P.O.S. on Planet Earth Jon Corzine
Obligatory Animal House clip:
http://www.youtube.com/watch?v=zDAmPIq29ro
My advice to you is to start drinking heavily.
Well, well, well
three holes in the ground
mines are holes in the ground
gold comes from mines
ALL IS WELL
(repeat)
Robbing Bastards will be a fitting comment when you find out whats yours is theirs and whats theirs is theirs as well.No changes there then.
Got smart, JUST like all ETF's.
...No longer physically exists
Rehypothication in progress.
....and those in dark robes continued, deep into the night, throwing the putrid bonds into the fire hoping to bring forth gold but alas! It was all in vain....
find me a virgin!
Be careful! The robes hide pretty much everything.
Goldmember got them all.
Attention all, I now have UNICORNS IN STOCK and READY FOR SALE!* I eagerly await your orders for lots of money.
*Will not actually deliver Unicorns.
Will they be available for petting?
I've always wanted to take my unicorn out on my boat.
Uh-oh boating accident.
Damn horns punch holes in everything.
"into Dutch Gilders." this would make sense. "close the gold window." this is 1973 all over again...but in a really weird way. "interest rates are too low and the dollar too dear."
I remember holding thousand guilder notes in my hand (1977).
My kids would never believe it.
When I explained my alias, they wanted proof.
Thanks to Monty Hall I have now regained their confidences.
Now how to explain to them the ladies knitting in the windows of Amsterdam ...
"paper" is woven too. and we can make "paper batteries" with it. with right amount of (bare minimum) science we can make all the wild fish that we want as well...
When I was a kid a Custodian would clean up our shit at school....guess they work for the bankers now.
Banker scum has always "cleaned up."
++++++++++++
FLUSA.com & MsCreant!
MsCreant:
LIBOR "cleaned up";
GIBOR on deck
"Batter up!"
No more phisical delivery on gold,no more than 100 euro per person/day in Cyprus,soon in other gulags,pardon,free countries.What possibly could go wrong?
you ask?
cigarettes will be rationed
NO SMOKE FOR YOU!
If cigarettes are rationed, only rational people will have cigarettes.
well... there's a fuel and coal shortage because of the prolonged winter here in europe... One me freeze away from freezing our balls off...
"global warming" in the USA is in fact "global cooling" in Europe. this matters too...
Here's what they have been saying about the weather...
1970s: Global Cooling and Nuclear Winter
1990s: Global Warming
2000s: "Global Climate Change"
2013: "New Norm Extreme Climate"
sheesh...
"Come, Watson, come! The game is afoot. Not a word! Into your clothes and come!"
U leeest mier hoeft hoodfucked in yer arse...
You need do nothing.
Run, Forrest, Run.
http://www.youtube.com/watch?v=lT0WpHvbakE
"I wanna know where da gold at! I want the gold!"
http://youtu.be/bZfyrIPw3wY
geef mijn goud terug
Nauw Nauw Nauw... Jouw goud... da hebbe we nou even nooit zo gezegd he pa?
Cracks me up.
Translation (which loses the humor a bit): "Now Now Now... Your gold... we didn't say it was like that, ey Pah?"
Probably a good time to convert the fiat at the ABN-AMROs "gold"-account into Euro's to buy gold coins/bars before it's confiscated, vaporised or capital controlled.
Don't worry, Janet Reno er Napolitano.....has bought enough hollow points "to protect us" 6 times each!
“It is with gravest concern that I write to you today concerning the recent appropriation of weapons by the Department of Homeland Security (DHS) that can only be understood as a bold threat of war by that agency, and the Obama administration, against the citizens of the United States of America,” the decorated retired Army Captain’sletter begins.
q99x2,
Thanks for link,
93 of 100 senators voted yea for the NDAA.
Petitioning our current gov't seems like, too little, too late.
I fear they saw in the abyss their own demise, and acted accordingly.
But we will deliver wampum or pizza if requested.
I can eat pizza.
Tungsten is toxic to my lil' body. . . .
I'll take the Pizza Horse Hawai and the horse chicken wings please...
after 7 years, the pizza is for free right?
Can you get wampum for BTC now?
Wow, I'm behind the times with my relics.
Once upon you could get pizza with a kited check, but I date myself too much with that statement don't I?
gotz to go seez the bonz http://www.youtube.com/watch?v=KT3f4zgmQdI "to understand the living you have to commune with the dead...
If you don't hold it, you don't own it, period. It's all OURS.
i was afraid of this.....
This shit is getting serious.
Really, from glacially slow to full retard ahead in what 8 days.
Hope the German and Swiss Govts.were not holding there.
This shit is getting serious.
Which explains all the lying.
how dare you call absurdism lying.
<---most will be calm about this, and think "no big deal."
<---there are going to be some pissed off folks out there who will want more than the cash.