Gold forbidden in Europe ?

[Master Shake]

Re: Gold forbidden in Europe ?

I am not in Europe but I want to relay what happened here in Canada yesterday when trying to buy gold. You know...Canada the land of mining.

I bought both gold bullion and silver about 18 months ago, from both TD Canada Trust and CIBC. I decided to by the smaller sized 1 oz. bars yesterday. In Canada you can buy gold directly from our banks.

I went to see my manager to place the order and he told me he could not take my order. There was no bullion available in Canada anymore, either gold or silver.

I asked about the gold Maple leaf coins. He told me they did not deal with the coins, since they were not considered an investment but rather a collectors item.

I knew that Scotia Bank sold the coins, (thanks to an ITulip member)so I went across the street to see if they had any coins. The teller called the order desk and yes they still had coins. You pay a premium to get coins, but I was able to order them and they told me they would be available for pick up in 5 days from the branch. I paid $52 USD over the spot price per oz.. I did not go back to CIBC to see if they had bullion, since the last time I tried, it turned into a 3 month ordeal waiting for delivery and this was 18 months ago when supply was not an issue.

In my discussion with the TD Canada Trust manager I said how is it possible that the price has fallen so hard if there is no bullion available, and no one has any idea of when it will be available? He said the COMEX is trading paper, not bullion and it is distorting the market. He said he had clients waiting to get bullion and there was no delivery date from their Precious Metals department. He said no one is selling and if you don't have sellers you don't have product. He then asked if I would be interested in selling my bullion.

If this were copper and there was no copper available there would be hell to pay. If this was oil, there would be hell to pay. Where in the hell is the sense in this?

Ironlady

Go to Tulving. Last I checked last night, they had Eagles, Maples, and Pandas available. What's more, the premium they're asking has been dropping, eg, the were asking spot + $85 for Eagles last week, now it's + $69. Got to buy at least 20 oz, but insured overnight is included. Bank wire only.

[skidder]

Re: Gold forbidden in Europe ?

www.apmex.com also have supply of both gold & silver product.

Here is an article outlining the basis for belief that gold is being manipulated for the bond market.

http://www.safehaven.com/article-4800.htm

[rnjboy]

Re: Gold forbidden in Europe ?

Dear Mr. Murphy: I am the publisher of the Web http://www.hartgeld.com and I wish to inform you that I have received several messages from everyone in the sense that the EU would soon begin a hunt for holders of gold. The authorities fear that a bank panic not generate a flight to gold that can not be stopped. Several rumors circulating in the banking circles: Rumor No. 1: (a top banker in Germany) if the measures outlined last week failed and a massive stock market crash occurs in coming weeks limits in the trading of gold will be immediately throughout the European Union, namely: - The purchase, sale and possession of gold will be banned - Withdrawals accounts will be limited, and companies must justify their remittances. In any event, even if this does not happen now, plans are prepared to put all this out very quickly. Rumor 2 (a former Austrian banker who has maintained excellent contacts): - German banks have been instructed not to sell gold to the public: Herewith an article in German retailer this instruction: http://www.mmnews.de/index.php/20081...sverkauft.html - Efforts are being made to reduce the quantity of gold and silver purchased by the retail market to reduce the current stress on the ingots, including the bar of 400 ounces of gold in London, which is essential in determining the price fixing. In this way they découplent demand and the formation mechanism of price. The international financial system today faces its most extreme limits on both sides of the Atlantic. It would seem that measures of despair like the one mentioned above are envisaged, but in any event, and as so aptly Richard Russell, for them it is "inflate or die", inflation or death. It is feared that if the rumor No. 1 becomes reality in the very next week we see scenes of uprising. There is almost no gold here in Europe. In Germany banks now refuse to sell gold, either because they have more goods, either because of the directive mentioned above. Here in Austria, there is still some gold available from some banks, although the quantities are limited. There are also massive ticket in bank branches, even the central bankers admit. I thought this might interest your readers. With my best greetings from Vienna, Austria Walter K. Eichelburg
French » English Translate

[rj1]

Re: Gold forbidden in Europe ?

The paper vs. physical disconnect IMO implies coordinated intervention to drive down the paper price.

The international financial system today faces its most extreme limits on both sides of the Atlantic. It would seem that measures of despair like the one mentioned above are envisaged, but in any event, and as so aptly Richard Russell, for them it is "inflate or die", inflation or death. It is feared that if the rumor No. 1 becomes reality in the very next week we see scenes of uprising.

The geopolitical quiet around the world as this financial crisis unfolds is a little disturbing. It's a bit like in a horror movie where when it goes really quiet and that's right when you know a guy is coming out of the closet with a chainsaw.

As far as where it would happen. My guess is Middle East or Eastern Europe.

[phirang]

Re: Gold forbidden in Europe ?

blowup will be caucauses, with perhaps coordinate diversion in ME.

[mooncliff]

Re: Gold forbidden in Europe ?

Many outside Japan have been saying for months that they were having difficulty taking physical delivery of precious metal coins. The Perth Mint, US Mint, and other mints have suspended issuing coins, etc.

There has been no problem in Japan buying 1, 1/2, 1/4, and 1/10 oz gold Maple Leaf coins and other precious metal coins.

Until now.

Tanaka Kikinzoku Kogyo, a major precious metals retailer in Japan, recently announced to customers that it had no platinum coins left. Shortly thereafter, sales representatives were saying that they had essentially no gold coins left, and that they had no idea when platinum and gold coins would be available.

December 10, 2008