Sinclair - Swiss Bank Just Refused To Give My Friend His Gold

[Serpo]

Sinclair - Swiss Bank Just Refused To Give My Friend His Gold





Today legendary trader Jim Sinclair stunned King World News when he revealed that a dear friend of his who is very affluent just had a Swiss bank refuse to return his large hoard of gold when he asked for it out of an allocated account. Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say in this remarkable and candid interview.



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Eric King: “Maguire spoke on KWN yesterday about the fact that one of his clients went to the LBMA to get the metal from them and could not get it. They told him he would be cash settled. This is what you have been talking about is the failure of the physical markets.”



Sinclair: “A person that I know with significant deposits in one of the primary Swiss banks, in allocated gold, wanted to take out his gold and was just refused on the basis of directives from the central bank....



http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/23_Sinclair_-_Swiss_Bank_Just_Refused_To_Give_My_Friend_His_Gol d_files/shapeimage_22.jpg






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“They told him the amount was in excess of 200,000 Swiss francs and the central bank had instructed them not to do it because it has to do with anti-terrorism and anti-money laundering precautions.



I really wonder whether those are precautions or whether the gold simply isn’t there. Now you tell me that a London delivery has basically failed. It has to raise our suspicions that the lack of physical gold behind the paper gold is literally so severe that we are coming to understand that it is in fact not there.



The gold that people think is stored is not stored, and the inventory of the warehouses for exchanges may not be holding deliverable gold. There has always been speculation about whether or not the physical gold the US claims to store is in fact in those vaults.



The greatest train robbery in history might be all of the gold, and it would only be something like we have described above that would happen right before gold makes historic highs.



There simply is no gold behind the paper. One example is AMRO, a second is your example with Maguire, and a third is my dear friend who was refused his gold on the basis that its value was too high. Remember this friend of mine had his gold in an allocated account in storage at a major Swiss bank. I repeat, there is no gold.”



Eric King: “Jim, when I listen to what you are saying, to what Maguire is saying, it really does tell me we are at the end game in terms of the paper market. It’s collapsing right now as you have been warning.”



Sinclair: “The vicious and blatant manipulation of the gold price (lower) via paper, on Friday and on Monday, may very well be the biggest mistake that the manipulators ever conceived of. I firmly believe it revealed that the price of gold has nothing to do with gold itself.



But I would add that if in fact the physical demand remains at these levels or even increases as the price of gold rises, I believe that the warehouses for the exchanges will be so significantly drawn down that it will force cash settlement.



The bottom line here is the paper market for gold may have just lit itself on fire, and served to burn the manipulators’ houses to the ground. You’ve heard of the phrase, ‘The emperor has no clothes.’ Well, this is infinitely worse because it is finally being revealed that the paper market for gold, in fact, has no gold.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/23_Sinclair_-_Swiss_Bank_Just_Refused_To_Give_My_Friend_His_Gol d.html

[Large Sarge]

things are heating up for sure

[midnight rambler]

because it has to do with anti-terrorism and anti-money laundering precautions.


The War on Drugs has morphed into the War on Terra.

[Jewboo]

The gold that people think is stored is not stored, and the inventory of the warehouses for exchanges may not be holding deliverable gold. There has always been speculation about whether or not the physical gold the US claims to store is in fact in those vaults.



http://www.tirnasaor.com/wp-content/uploads/2011/10/I.O.U.jpg

This recent talk here at GSUS in other threads about "paper gold" is just goofy.

A piece of paper is simply not gold. Has never been gold. Will never be gold.

"Paper Gold" is nothing more than an I.O.U. written on a piece of paper.

:(?? Thread title should be Ha Ha. Hilarious that anyone here would be shocked that an I.O.U. written on a piece of paper is not redeemed for the real physical stuff. Sinclair knows better and is being coy to promote his advertisers the Physical Gold dealers.

[Serpo]

out of an allocated account

[Spectrism]

Paper gold is not an IOU. It is a claim to another piece of paper.... like our "dollars". The federal reserve note is backed by another federal reserve note. If you think you are buying gold or silver and it weighs about the same as a piece of paper, you did not even buy an ounce, no matter what you paid. The banks have proven that they do not honor their promises.

[Large Sarge]

dutch bank, now swiss, federal reserve refuses delivery to Germany,

looks like a string of DEFAULTS to me.......

[Spectrism]

dutch bank, now swiss, federal reserve refuses delivery to Germany,

looks like a string of DEFAULTS to me.......


I could see the lying banksters answering you: Oh, those are such harsh words and we never use that D word. It is nothing more than reallocating assets, diversifying the portfolio and responsibly managing commitments.

[chad]

gold ownership linked to 'terra. interesting.

[Oz Waver]

Who's still being fooled by this shill??? Come on people, start calling them out. Jim Sinclair is a plant!!!! How can I make this any clearer.


"Goldman Sachs, Solomon Brothers, Lehman Brothers, and Bache were a few of the firms started by my family. All this appears in a book called 'Our Crowd.'" Jim Sinclair

Our Crowd: The Great Jewish Families of New York by Stephen Birmingham relates details of the powerful New York banking alliance in which the House of Seligman—the ancestors of Jim Sinclair and his father, Bertram Seligman—became partners with the House of Rothschild and the House of Morgan:

"...in the autumn of 1874, Baron Rothschild summoned Isaac Seligman to his office to give him a piece of news. Some $55 million worth of United States bonds were to be offered for sale, and, the Baron suggested, the issue might be backed by a combination of three houses — the House of Rothschild, the House of Morgan, and the House of Seligman. For the first time, August Belmont would act as agent for both the Rothschilds and J. & W. Seligman & Company... The Seligmans were now participating in the most powerful financial combination in the history of banking.

"At last they were able to consider themselves the Rothschild's peers. The Seligman–Belmont–Morgan–Rothschild alliance, furthermore, was so successful that by the end of the decade there were complaints on Wall Street that 'London—and Germany—based bankers' had a monopoly on the sale of United States bonds in Europe—which they virtually did. The Seligmans were now being called 'the American Rothschilds'..." (Our Crowd: The Great Jewish Families of New York, Stephen Birmingham, pp. 138-139)


And they'll be calling that (falsely) anti-semitic despite Jim referencing this as a great source to learn about him. I have in no way coloured this. They are purely quotes.

Problem is few people actually do their homework and research. They fall for the agenda plain and simple.

Wake up people.

Jim is the guy that's you ironically oppose by buying gold and silver...

He's a plant.

[gunDriller]

And they'll be calling that (falsely) anti-semitic despite Jim referencing this as a great source to learn about him. I have in no way coloured this. They are purely quotes.


more like, like Harvey Organ, he's an useful Jew.

he has a knowledge of the industry and shares it, without holding back too many cards - as far as we can tell.

[Ponce]

So, who is holding all this gold?....... can you hear me now?

First post of the day......good morning to one and all.

V

[mamboni]

There's a run on the bullion banks by large private investors and institutions. The bullion banks leased and sold client gold in the thousands of tons for easy profits. Then they multiplied those profits many times over using rehypothecation and gold certificaes unbacked by physical. Now the gigue is up as several gold delivery defaults have occurred. The war on terror was never about terror. It was about control and capital controls. Now that the trap is closing, more and more people are realizing that they have been had by the criminal banksters. Speaking of whcih, looks like the Irish depositors just got Cyprus'd: http://www.zerohedge.com/contributed/2013-04-23/forewarned-irish-savers-have-just-been-cyprusd-and-theres-much-more-cyprusing

If you don't hold your wealth in physical gold and silver outside of the banking system then you are just another hairless moneky who's about to have his cherished delusions shattered, meow!

[Sparky]

Sinclair doesn't mention what his friend's recourse is. If the banks can simply say "no" and there's nothing you can do about it, then there's really no risk of them running out of bullion, correct? I wish Sinclair would follow up on how the claimants can proceed legally to pressure the banks. When I see that happening, then I will believe that we are near a bullion run or a meaningful default.

[Horn]

Simple, request it in weekly allotments at under whatever bar they setup.

Tell them that if they do that, maybe you'll let them keep a piece towards the end.

If not, call in the terrorists.

[mamboni]

Sinclair doesn't mention what his friend's recourse is. If the banks can simply say "no" and there's nothing you can do about it, then there's really no risk of them running out of bullion, correct? I wish Sinclair would follow up on how the claimants can proceed legally to pressure the banks. When I see that happening, then I will believe that we are near a bullion run or a meaningful default.

Any refusal to deliver a depositor's gold on demand is a default. Any legal actions by said depositor could take months and lead to nothing, as the bullion banks operate under the protection of the sovereign. Each of us must interpret the meaning of a bullion bank default vis-a-via gold. My interpretation is that they do not have the gold and/or any gold they do have is encumbered by outstanding paper claims. This is very bullish for gold, at the riak of understatement.

[Spectrism]

Default because there is no gold... OR.... is it possible that the end of the dollar is near and the only value is tied up in the metals. If they can delay releasing the metals forever, and if they can satisfy the suckers with worthless paper, the banksters get to keep the gold.

This fits what I expect the end to look like. They have been trading their fake paper for value since the inception of the fiat currency... and with the release from any gold or silver standard, they went into overdrive these past 40 years. Now is the time for them to secure as much gold, silver, other PMs... as well as choice real estate and companies, while dishing out buckets of dollars.

[Sparky]

Any refusal to deliver a depositor's gold on demand is a default. Any legal actions by said depositor could take months and lead to nothing, as the bullion banks operate under the protection of the sovereign. Each of us must interpret the meaning of a bullion bank default vis-a-via gold. My interpretation is that they do not have the gold and/or any gold they do have is encumbered by outstanding paper claims. This is very bullish for gold, at the riak of understatement.

I agree that this is a default. But I question that it is meaningful until such time as a big player gets hurt by it. But most of the big players are on the other side of the deal, i.e. they're the ones who are doing the defaulting.

I also agree that this is bullish for gold, as it speaks to the supply/demand fundamentals. There's not enough supply of physical gold to meet the demands of those who want it. Eventually this will be reflected in price, as it was in the run-ups leading into May 2006, March 2008, and September 2011.

[Horn]

What the bank really meant to say is that it needs to hold on to the Gold to fund the terrorists & launderers.

[mamboni]

Question to the membership here: what would you do if you went to the bank to withdraw money and were told you could not? No reason is given and no time table is volunteered. What would you do?

[chad]

had it happen, took 3 days to get $7,000. they had to order it from the mnpls fed bank. after that, i quit keeping more than $500 in the bank at any one time.

[gunDriller]

Question to the membership here: what would you do if you went to the bank to withdraw money and were told you could not? No reason is given and no time table is volunteered. What would you do?

adapt - before that happens.

what i mean is, accept that that is the state of affairs ... because it is. the US banking system is 110% broken.


it is helpful to pay attention to indicators of bank health. e.g., the stock market value. i'm not saying that's a 100% correlated indicator - just that, when it plunges to unimaginably low levels, it is a sign of ill health.

that was the case with Washington Mutual in 2008. i closed out my accounts with them by Saturday September 20, 2008, & spent much of the spring & summer of 2008 transferring the funds to other banks.

they were assigned to JP Morgan Chase on Thursday, September 25, 2008.

i had had an account with them since September 1975.


or, to quote someone on some financial webcast, $ in a US bank account is "return free risk". Zero return, with all the risk.

[sirgonzo420]

Question to the membership here: what would you do if you went to the bank to withdraw money and were told you could not? No reason is given and no time table is volunteered. What would you do?

I'd get the hell out before they accused me of trying to rob them.

I don't keep money in the bank. (Nobody else does either...)

I don't even keep *pretend money* in the bank.

[Spectrism]

Question to the membership here: what would you do if you went to the bank to withdraw money and were told you could not? No reason is given and no time table is volunteered. What would you do?

Extract it from a credit card and then wire a payment to the credit card. Wire transfers seem to happen invisibly.

If they shut that down, the system crashes. By then it is too late. Get the popcorn ready and tighten up the zombie window locks. Clear the door braces for action. Nail down all things that can be stolen.

[Twisted Titan]

If it was me

I would demanded a premium on top of the cash payment (like how they have been settling contracts that clinets refuse to rollover)

Take my money to nearest coinshop

And buy every dam coin in site dealer markup be dammed

Leave him with the hot potatoe"cash money"

I want my dam metal in my hand.

[Twisted Titan]

Question to the membership here: what would you do if you went to the bank to withdraw money and were told you could not? No reason is given and no time table is volunteered. What would you do?

Go on a MEGA spending spree via VISA check card purchases

If something is going down

I want phyical assets in my hands


If normalcy returns

I can always get a refund

[Horn]

I'd make up a bunch of Bitcoin stickers & paste them all over their front door.

[mick silver]

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

[Uncle Salty]

Who's still being fooled by this shill??? Come on people, start calling them out. Jim Sinclair is a plant!!!! How can I make this any clearer.



And they'll be calling that (falsely) anti-semitic despite Jim referencing this as a great source to learn about him. I have in no way coloured this. They are purely quotes.

Problem is few people actually do their homework and research. They fall for the agenda plain and simple.

Wake up people.

Jim is the guy that's you ironically oppose by buying gold and silver...

He's a plant.

That is just more ad hominem bunk. So what if his family was in bed with the Rothschilds. So what if he is jewish. Does that mean everything he says is a lie?

He has been pretty spot on in respect to where gold has ended up with all his angels.

[Horn]

I agree that this is a default. But I question that it is meaningful until such time as a big player gets hurt by it. But most of the big players are on the other side of the deal, i.e. they're the ones who are doing the defaulting.

I also agree that this is bullish for gold, as it speaks to the supply/demand fundamentals. There's not enough supply of physical gold to meet the demands of those who want it. Eventually this will be reflected in price, as it was in the run-ups leading into May 2006, March 2008, and September 2011.

Is it me, or is it every time that Sparky posts, Silver seems to shed a dime.

[Large Sarge]

'There is tremendous open interest in silver open for May delivery -- 44,114 contracts as of tonight -- which begins in just six more trading days. That's 220 million ounces of potential physical demand on May 1. The rollover rate out of the May contract has been between 2,000 and 4,000 contracts a day. That will have to accelerate or we will be hearing of the COMEX settling May silver contracts in cash as the exchange only has 165 million ounces in inventory.'

http://seekingalpha.com/article/1362291-the-end-of-fractional-reserve-gold-is-nigh

[Jewboo]

...So what if his family was in bed with the Rothschilds. So what if he is jewish. Does that mean everything he says is a lie?



https://socioecohistory.files.wordpress.com/2010/02/jim_sinclair.jpg?w=456&h=266
Jim with his jew gold





Too funny. Salty is playing the "must be everything or nothing" logic card.

:D

[Libertarian_Guard]

Hold on now. You ain't seen nothing yet. The media, with the ultimate power of B$ can spin this story any way they chose. Here is one example........

All securitized gold contracts will be made whole. Some, like the Germans, will take many years, others only a few years, and since gold will forever continue to be mined and in many ways securitized, when extreme swings in price happen, cash settlements and longer durations are in order. Forward selling and leasing of deep storage gold, while little understood by anyone outside of the trade has been a long established and accepted practice and will continue to be so.

And the band played on.

[Uncle Salty]

https://socioecohistory.files.wordpress.com/2010/02/jim_sinclair.jpg?w=456&h=266
Jim with his jew gold





Too funny. Salty is playing the "must be everything or nothing" logic card.

:D

Not at all.

Your logic is twisted. Jim is a jew, he comes from jew bankers, therefore what he says about gold is bullshit.

Well, fuck that. Argue the merits or deficiencies of what he says, not his ancestry.

[Spectrism]

Come on Salty... let's not use too much logic or common sense here.... please? Emotional roller-coasters are so much more fun and they make decisions easier if we don't have to consider those harsh facts of reality.

[Uncle Salty]

Come on Salty... let's not use too much logic or common sense here.... please? Emotional roller-coasters are so much more fun and they make decisions easier if we don't have to consider those harsh facts of reality.

My bad. Sorry. I forgot how much fun poo flinging can be!

[Serpo]

I respect J.S ,he was the only one saying gold would hit 1650 ages before it did and now he says 3500.

[ximmy]

I respect J.S ,he was the only one saying gold would hit 1650 ages before it did and now he says 3500.

Sinclair is saying 50,000 gold ...a red flag pops up when he says crap like that.

"The truth is that when we take out these futures markets on a failure, gold is going to $50,000. Not $3,500. $50,000."

[mamboni]

Sinclair is saying 50,000 gold ...a red flag pops up when he says crap like that.

"The truth is that when we take out these futures markets on a failure, gold is going to $50,000. Not $3,500. $50,000."

That's FOA's and FOFOA's price prediction under their freegold thesis. Apparently, after many years of silence, FOA has contacted Santa (Sinclair).

[Jewboo]

Sinclair is saying 50,000 gold ...a red flag pops up when he says crap like that.

"The truth is that when we take out these futures markets on a failure, gold is going to $50,000. Not $3,500. $50,000."



You anti-semite! How dare you present Salty with actual quotes of his jew guru Jim Sinclair!

:D

[Jewboo]

Not at all.

...Jim is a jew, he comes from jew bankers...



Well...at least you got two facts right.

:D

[Jewboo]

Come on Salty... let's not use too much logic or common sense here.... please?



Like this:




Let me shake this thread up a little... if you don't mind. The Israel next to Lebanon is a false evil state. However, they occupy the land of Jerusalem and this land is a favored place of YHWH. True Israel is the Church. The Harbingers given to use from 911 are evidence (to me) that YHW is treating the US as Israel- the offspring of Abraham and the inheritors of the blessing. We are failing the warnings, however, and the blessings have been removed. Judgment is next in a rather horrible way.



Oh. YHWH told you Jim Sinclair is kosher. Got it...

:D

[Horn]

$50,000 gold is possible, but at that time you will be using yuan.

Maybe 3-4 years away.

[Spectrism]

Like this:
Oh. YHWH told you Jim Sinclair is kosher. Got it...
:D

It must be a horrible burden hating jews everywhere you go and everyone you see.
Here a jew, there a jew, everywhere a jewboo.

[Jewboo]

It must be a horrible burden...



https://qunfuz.files.wordpress.com/2009/11/christian-zionism.jpg

:rolleyes: YHWH tell you to derail this thread?

[Sparky]

Gold at $50,000 would have less buying power than gold at $3500.

[mamboni]

Gold at $50,000 would have less buying power than gold at $3500.

I'd gladly pay either price to get some of these fucking trolls from pissing all over this forum and destroying good threads. I'm this close to calling quits with GSUS. I'm not investing anymore of my time and energy if this crap continues. Turd's blog is looking mighty tempting.

[Jewboo]

Question to the membership here: what would you do if you went to the bank to withdraw money and were told you could not? No reason is given and no time table is volunteered. What would you do?



What "answer" is acceptable to you. Just so we know before posting.

:)

[zap]

You mean Jew boy? it does get frustrating, but you just gotta remember it/he/she is just a computer commando wearing pink panties behind the screen.


Yes you Jew.

[zap]

Question to the membership here: what would you do if you went to the bank to withdraw money and were told you could not? No reason is given and no time table is volunteered. What would you do?

Not a hell of alot I would be able to do, (bitch and moan I guess,) but if you were a member of this site you would know to have at least a years cash on hand and have at least half of your wealth in gold and silver, and you would have preps ?

[BarnkleBob]

Do not believe anything you hear, and only 1\2 of what you see, only accept your PERCEPTIONS of the fragments of truth...the rest is just noise!

[Hypertiger]

You all are little people that get to enjoy the belief you are something more...during the inflationary period of the systam...during the deflationary period.

You all wait below decks...while the important people load on the life boats...sorry

[Horn]

I'd gladly pay either price to get some of these fucking trolls from pissing all over this forum and destroying good threads. I'm this close to calling quits with GSUS. I'm not investing anymore of my time and energy if this crap continues. Turd's blog is looking mighty tempting.

You could bring them a slogan, Quit investing in crap, start investing in Turd's.

[mamboni]

Not a hell of alot I would be able to do, (bitch and moan I guess,) but if you were a member of this site you would know to have at least a years cash on hand and have at least half of your wealth in gold and silver, and you would have preps ?


You, my dear, get an A+!

Now whatever you do, do not talk to the anthropomorphic kitty in the wierd Egyptian-looking outfit over there in the corner - he/she/it will shatter your cherished delusions!

[mamboni]

You all are little people that get to enjoy the belief you are something more...during the inflationary period of the systam...during the deflationary period.

You all wait below decks...while the important people load on the life boats...sorry

Hairless monkies, check.
Top sucks from the bottom, check.
Delusions getting shattered, check.
Maximum potential reached, now imploding, check.

Did I miss anything? Meow.

[Large Sarge]

CEO refused delivery of 2 gold contracts

http://silverdoctors.com/former-cme-ceo-refused-physical-delivery-for-2-gold-contracts/

[mamboni]

CEO refused delivery of 2 gold contracts

http://silverdoctors.com/former-cme-ceo-refused-physical-delivery-for-2-gold-contracts/

There's a simple and innocent explanation for this: no one at COMEX had a hacksaw handy to cut the good delivery bar in half.

You conspiracy goldbugs crack me.






/sarc

[Uncle Salty]

Hairless monkies, check.
Top sucks from the bottom, check.
Delusions getting shattered, check.
Maximum potential reached, now imploding, check.

Did I miss anything? Meow.

Condescension? Check.
Better than us? Check.

[Large Sarge]

physical gold sales in Britain triple (300% increase)

the end is near folks

http://www.zerohedge.com/news/2013-04-24/panic-physical-gold-spreads-uk-where-royal-mint-gold-coin-sales-triple

[Horn]

You all are little people that get to enjoy the belief you are something more...

At least we aren't little turds that we'd be posting at Turd's site.

[Large Sarge]

comex is getting sucked dry,

http://bullmarketthinking.com/comex-physical-drain-accelerates-with-over-7-8b-disappearing-from-all-depositories/

[Spectrism]

You all are little people that get to enjoy the belief you are something more...during the inflationary period of the systam...during the deflationary period.

You all wait below decks...while the important people load on the life boats...sorry

I am little but I will stand on the heights with my Father as we look over all he owns. Those who got on the lifeboats will be down in the lake of fire.




Hairless monkies, check.
Top sucks from the bottom, check.
Delusions getting shattered, check.
Maximum potential reached, now imploding, check.

Did I miss anything? Meow.

I think you missed the "useless eaters" part. And there was also something about "poof".

[Spectrism]

comex is getting sucked dry,

http://bullmarketthinking.com/comex-physical-drain-accelerates-with-over-7-8b-disappearing-from-all-depositories/


My guess is that the price down-drive is to make the gold much more affordable for the bigboys who will gladly exchange their billions of federal reserve notes for that worthless old metal. Comrade Obama and his regime cooperated perfectly to allow trillions of digits to flood into the vast virtual vaults of the banksters and now they are trading them in for real stuff.

[mamboni]

Jim,

Most people here cannot imagine a situation you are talking about. I have no trouble because I lived through it once already. I am waiting for a repeat, here and now.

Look at these graphs. This is what happened in Poland in the 1980s . Economy collapsed, prices soared, and the government was saying that everything is good and under control. They lied until the last day in office. I remember I bought an old car. Because I was young and inexperienced somebody glued rusted panels with paper and paint. I washed the car and the side panel came off. I was worried, but not for too long. It was still a good investment. A year later I sold that car for double the money.

The lying caused communism to collapse but I do not see big differences here to tell you the truth. I expect a similar outcome. We are flooded with paper. The difference is that this is on much grander scale and people still trust it. I guess the bang will be bigger then.
Inflation in Poland (%)

http://upload.wikimedia.org/wikipedia/commons/4/4b/PL_inflacja_wykres.svg
(http://upload.wikimedia.org/wikipedia/commons/4/4b/PL_inflacja_wykres.svg)
Price of 1 ounce of gold in Polish zloty

http://bankowski.files.wordpress.com/2011/01/19840109-19900109-inflacja-window.png
(http://bankowski.files.wordpress.com/2011/01/19840109-19900109-inflacja-window.png)
And this is why the communist government gave up the power. That is the real reason – total collapse.


Best,
CIGA Slawomir