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View Full Version : The largest private gold vault is across the street from the largest sovereign vault



vacuum
27th March 2013, 09:35 PM
One of them is the NY fed, the other one is the chase building.

http://www.zerohedge.com/news/2013-03-02/why-jpmorgans-gold-vault-largest-world-located-next-new-york-fed

Do these people really think they can rob the whole world and get away with it?

mick silver
28th March 2013, 05:19 AM
yep they do

Cebu_4_2
28th March 2013, 09:15 PM
That would pretty much make that area a good nuke target, not like anything like that didn't already happen.

Twisted Titan
29th March 2013, 12:26 AM
That soveriegn vault is going to be bone dry after everybody stands fir delivery

Horn
29th March 2013, 10:36 AM
The Bank of Nova Scotia’s Scotia Mocatta Depositary (SMD) is an Exchange-licensed depository for Gold, Silver, Platinum and Palladium. SMD has submitted applications, requesting that a new facility, located at International Airport Center, 230-59 International Airport Center Boulevard, Building C, Suite 120, Jamaica, New York, be approved for the storage of gold and silver deliverable against the COMEX Gold and Silver Futures Contracts, and for the storage of platinum and palladium against the NYMEX Platinum and Palladium futures contracts.


History: The Bank of Nova Scotia, doing business as SMD, is an Exchange Licensed Depository for the storage of gold, silver, platinum, and palladium, and its current facility is located in Manhattan at 26 Broadway. SMD was previously known as Iron Mountain Depository (IMD), its name was changed when it was acquired by the Bank of Nova Scotia in 1997. The IMD/SMD facility has been a COMEX licensed delivery point since 1975. SMD has planned to develop a new facility since the terrorist attacks upon the World Trade Center, which destroyed SMD’s facility at 4 WTC. SM subsequently returned to its existing and former facility as an intermediate measure while the new facility was designed and built.

In evaluating this application, SMD’s performance in the wake of the terrorist attacks on the World Trade Center must be noted. SMD’s Licensed Depository was located in a sub-basement of the WTC at the time of the attacks. When the material in this facility was trapped within the debris, SMD acted swiftly, offering to purchase any and all of the warranted material that was buried at the request of any holder of warrants to this material. Scotia further prepared to make replacement material stored in Canada available to offset any potential supply shortage that the destruction of its WTC facility might have caused.


Interesting article, vacuum.

Who is Scotia Bank anyway?

Wonder if they were targeted, or targeting.

Son-of-Liberty
29th March 2013, 11:05 AM
Interesting article, vacuum.

Who is Scotia Bank anyway?

Wonder if they were targeted, or targeting.

Bank of Nova Scotia is one of the big banks here in Canada, although they also do business internationally. They are a major player in the gold market here in Canada.

You can buy gold/silver bullion from them although they usually try and convince you to store it with them for a fee. (then they probably lease it out and collect interest while charging you for storage. I read a story about a guy wanting to get his hands on about a million in gold he had stored with them and there was major delays)

Son-of-Liberty
29th March 2013, 11:30 AM
This sets the stage for the “King” interview with Harvey and Lenny Organ (father and son) along with Adrian Douglas – one of GATA's valiant directors. As a last detail, the Bank of Nova Scotia operates the primary bullion-storage vault for all of Canada and is the Canadian bank which is most active in the infamous “gold-trading” of the anti-gold banking cabal, which is rapidly losing its “grip” on this market, after a quarter century of ruthless price-fixing.


Lenny Organ had been repeatedly requesting access to the Bank of Nova Scotia's bullion vault, in order to verify his own, personal holdings – which he had chosen to buy and store through that bank. He finally obtained his invitation in September 2008, just before the most-massive spike in bullion-buying in decades (after the Wall Street-induced “crash” of 2008).


What he saw inside that vault was that (especially for silver) the “cupboards were bare”. The entire “working supply” of silver for the BNS was sixty 1,000 oz bars, with each of those bars equaling roughly $15,000 of silver apiece (at 2008 prices). In other words, the total amount of bullion held by the Bank of Nova Scotia (including what it was willing/able to sell) was worth less than $1 million.


Upon seeing that the bank didn't even hold their own bullion (which they paying “storage fees” for), the Organs demanded that BNS produce (and then store) the bullion which it already claimed to hold for the Organs. Incredibly, the BNS demanded additional storage fees and still required more than six weeks to make good on their contractual obligations.


Apart from the enormous time-lag for one of the world's largest bullion-banks to produce the bullion it was already contractually obligated to store, it appears that the banksters have two sets of storage rates for its “bullion customers”. There is the “regular” rate it charges for chumps – i.e. those clients for whom (like Morgan Stanley) the Bank of Nova Scotia only pretended to buy and hold bullion, and a second fee structure for those clients who insisted that the bank buy-and-hold real bullion on their behalf.



http://www.bullionbullscanada.com/canadian-commentary/10439-dont-store-bullion-with-bank-of-nova-scotia

Guess it was silver not gold.