Swiss Bank Not Giving Customer His Silver

[Master Shake]

“Let me just cite one example that is ongoing. This individual has been storing with a Swiss bank twenty bars (1,000 ounce bars) of silver which has a market value today of just over $550,000. So, it’s not only large transactions that are affected, but small ones too.



When I last emailed this individual a couple of weeks ago, he was still trying to get his silver from this Swiss bank. This has been going on for over two months, and again we are only talking about 20,000 ounces of silver. This may seem unimaginable to some people, but I had told this individual in September when he contacted me that I had seen this problem repeatedly with other people.



He was quite confident that he wouldn’t have a problem getting his silver because he had been paying storage fees on it since buying it in the late 1990’s. The Swiss bank is insisting that he take cash, but he is demanding his silver which is supposed to be sitting in the bank’s vault be delivered to him. As I said before Eric, I know of other examples like this one.



Circling back around to the Jim Rickards interview, he ended with some very good advice, with which I wholeheartedly agree. Make sure your gold and silver are stored outside of the banking system.”

http://kingworldnews.com/kingworldne...is_Silver.html

[doom&gloom]

Re: Swiss Bank Not Giving Customer His Silver

“Let me just cite one example that is ongoing. This individual has been storing with a Swiss bank twenty bars (1,000 ounce bars) of silver which has a market value today of just over $550,000. So, it’s not only large transactions that are affected, but small ones too.



When I last emailed this individual a couple of weeks ago, he was still trying to get his silver from this Swiss bank. This has been going on for over two months, and again we are only talking about 20,000 ounces of silver. This may seem unimaginable to some people, but I had told this individual in September when he contacted me that I had seen this problem repeatedly with other people.



He was quite confident that he wouldn’t have a problem getting his silver because he had been paying storage fees on it since buying it in the late 1990’s. The Swiss bank is insisting that he take cash, but he is demanding his silver which is supposed to be sitting in the bank’s vault be delivered to him. As I said before Eric, I know of other examples like this one.



Circling back around to the Jim Rickards interview, he ended with some very good advice, with which I wholeheartedly agree. Make sure your gold and silver are stored outside of the banking system.”

http://kingworldnews.com/kingworldne...is_Silver.html

and very good advice indeed!

[LorenS]

Re: Swiss Bank Not Giving Customer His Silver

Being charged storage fees for something that doesn't exist just sounds like par for the course.

We had our van to the dealer last week for a 90,000 mile service. We called ahead of time to arrange all of the service - part of which was a new battery. We arrive to find "they sold the last battery yesterday". It's not like they didn't know we were coming in for it.

I don't have much wealth to protect. But, most of my wealth IS outside the banking system (exercise, paid off cars, family & friends).

[shiny!]

Re: Swiss Bank Not Giving Customer His Silver

I lost a lot of respect for Swiss banks yesterday when I read that a Swiss bank caved to international pressure and cut off Wikileak's access to their account. Now this. The world is in truly bad shape when you can no longer trust Swiss banks.

[Spartacus]

Re: Swiss Bank Not Giving Customer His Silver

Which Ted Butler predicted - I first read his position on this 8 years ago, and he advised people to take the metal out of the banks ASAP.

He may have come up with it before then though.

When I last emailed this individual a couple of weeks ago, he was still trying to get his silver from this Swiss bank. This has been going on for over two months, and again we are only talking about 20,000 ounces of silver. This may seem unimaginable to some people, but I had told this individual in September when he contacted me that I had seen this problem repeatedly with other people.