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Old 03-16-2010, 04:44 PM   #1
peaceandlove
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Exclamation What is Going on in The Dollar Loan And Physical Gold Markets?

What is Going on in The Dollar Loan And Physical Gold Markets?

SOURCE:
http://solari.com/blog/


It's Going To Implode: Buy Physical Gold - NOW

ZEROHEDGE
Submitted by Gordon_Gekko on 03/11/2010 07:29 -0500

Evidence seems to be mounting that we are headed towards some sort of implosion in the paper Gold market, and perhaps the currency/bond markets in general. Let’s take a look:

Jacksonville, FL based EverBank – a bank with approximately $8 billion in assets and 1800 employees according to the company website – recently sent this notice to customers (courtesy of Warren Bevan):

Quote:
"Non-FDIC Insured Metals Select Changes" -

Section 6.3.7. General Terms: We have added language clarifying our right to close your account. We may close your Metals Select Account at anytime upon reasonable notice to you. If we believe that it is necessary to close your account immediately in order to limit losses by you or us [GG: We really don’t give a s**t about you; it’s us that we care about], we may close your account prior to providing notice to you. Notice from us to one of you is notice to all of you [GG: the nerve of these people!]. If we close your account, we reserve the right to convert your Precious Metals to U.S. dollars and tender the balance to you by mail [GG: I am willing to bet my entire Gold stash that when you receive these "converted" dollars, they will be nowhere near the market price of physical. What did you think that whole "limit losses" thing meant?] .
If you have a "Non FDIC Insured Metals Select" account with these people, you can pretty much say goodbye to any chances of ever seeing your metal. This is a clear sign that the (already tight) availability of physical metal at the manipulated Comex futures paper price is in danger of vanishing altogether. Think about it. What is the scenario in which they avoid catastrophic losses while at the same time sending you the US dollar value of the metal? When the official or Comex price has fully decoupled from the physical price. Expect to see more such notices from banks offering Metals "Investments".

Citibank recently issued this notice to its checking account (remember the type of account where you thought you could withdraw your money whenever you wanted? Well, not anymore) customers (via Market Ticker):

Quote:
Withdrawal Notice:

We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past.
Continues: http://www.zerohedge.com/article/its...sical-gold-now
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Old 03-16-2010, 05:41 PM   #2
Stardustaquarion
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

Wasn't the Everbank the one George Green suggested? But to be fair he also said not to hold any non physical gold

Interesting times

My only question is, what is to say that we will use gold in the future? there have been times in which a rare shell called spondilus was used as currency and same applied to salt in Rome...

Thank you for the info
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Old 03-16-2010, 06:07 PM   #3
sammytray
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

Quote:
Originally Posted by Stardustaquarion View Post
Wasn't the Everbank the one George Green suggested? But to be fair he also said not to hold any non physical gold

Interesting times

My only question is, what is to say that we will use gold in the future? there have been times in which a rare shell called spondilus was used as currency and same applied to salt in Rome...

Thank you for the info
Gold will be a temporary "fill"...

so interesting... maybe simply trading of each others "goods" will do it.
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Old 03-16-2010, 06:25 PM   #4
Rocky_Shorz
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

George Green talks about Everbank for their baskets of currency so you are diversified from holding just USD.

It is very interesting for them to be telling people that paper gold might be worthless soon...

It actually gives a little credibility to the bank trying to protect its investors.
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Old 03-16-2010, 06:58 PM   #5
waitinginthewings
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

Here's what Dr. Doom had to say about Gold & Farmland Feb. 22 article. Don't know about the Gold, but farmland makes sense to me.


The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.

The bleak warning of social and financial meltdown was delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers.

Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom.

contd/............here
http://business.timesonline.co.uk/to...cle7035913.ece

Last edited by waitinginthewings; 03-16-2010 at 07:06 PM.
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Old 03-16-2010, 07:04 PM   #6
sammytray
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

GOLD is just a means to the way.
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Old 03-16-2010, 07:07 PM   #7
sammytray
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

Quote:
Originally Posted by waitinginthewings View Post
Here's what Dr. Doom had to say about Gold & Farmland Feb. 22 article. Don't know about the Gold, but farmland makes sense to me.


The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.

The bleak warning of social and financial meltdown was delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers.

Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom.

contd/............here
http://business.timesonline.co.uk/to...cle7035913.ece
http://business.timesonline.co.uk/to...cle7035913.ece
WOW WOW Those have the food have the upper hand.
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Old 03-16-2010, 07:18 PM   #8
Rocky_Shorz
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

well it is also land that can be bought up for cheap and if the market completely crumbles, isn't worth much less...

It is like the people in Arizona that bought huge parcels of land at $150 an acre when the market was booming, and now after the crash I see a few looking to sell it now instead of homestead as Solar farms...

they raised the price to $175 because it is a great idea...

but still selling for $150
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Old 03-16-2010, 07:24 PM   #9
waitinginthewings
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

Yes, food might become the real Gold. At least we can eat it. For the average person cannot buy Gold, but a few acreas of land would be "doable" & they can grow their food, even share it with their neighbors. Yes the more I think about it, the more I realise the importance of growing our own food.
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Old 03-16-2010, 08:16 PM   #10
pineal-pilot-in merkabah
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

Quote:
Originally Posted by waitinginthewings View Post
Yes, food might become the real Gold. At least we can eat it. For the average person cannot buy Gold, but a few acreas of land would be "doable" & they can grow their food, even share it with their neighbors. Yes the more I think about it, the more I realise the importance of growing our own food.
i came to that conclusion a year or so ago, so i purchesed a cannister of lipscomes survival seeds. 4lbs of heirloom seeds. bought inn the usa, driven over the border to canada , cos canada customs confiscates his deliveries so he doesnt post anymore, then a friend picked them up drove em to bc for me and then mailed em to the uk. if you want heirlooms in the uk you have to go on a united nation/EU list to grow them. if i can get gold i will . food= number one priority.
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Old 03-17-2010, 12:53 AM   #11
Rocky_Shorz
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Default Re: What is Going on in The Dollar Loan And Physical Gold Markets?

Quote:
Gold Will Soar on Euro Crisis
NEW YORK (TheStreet) -- James Turk, founder of GoldMoney, says eurozone sovereign debt issues will be one of the factors pushing gold to $1,800 by the end of the year.
I wonder what the other factors are, like there isn't any gold?

So why is the IMF dumping gold metals right now if the market is about to explode?
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