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Gold

Für alle Besitzer von “Papier” Gold :

http://seekingalpha.com/article/91357-the-disconnect-between-supply-and-demand-in-gold-silver-markets

<<<That being said, the paper claims may have a lot of value, whether or not they are fake.  Derivatives dealers can write futures contracts, options, etc., according to CFTC rules, because paper “claims” to vault-stored silver and gold can be used as the legally mandated “cover” for futures contracts.  To understand the nature of paper claims, we must travel back in time, for a moment, to a class action against Morgan Stanley (MS).  According to the complaint, Morgan Stanley claimed that it bought physical silver, on behalf of various clients, and was storing it, in safe-keeping, in its vault in New York.  Allegedly, Morgan Stanley defrauded its clients from Feb. 19, 1986, and Jan. 10, 2007.  According to the complaint, it never bought any silver, but, all the while, continued to charge clients big fees for storing the imaginary metal.  Morgan Stanley is one of the biggest investment banks in the world.  It is one of the major players in precious metals.  Yet, according to the lawsuit, the paper claims to vaulted silver it issued to clients was nothing more than a lie.  One of Morgan Stanley’s defenses, interestingly enough, was that everything it did simply followed “standard industry practices.”

and from a friend in NY :

This reminds me of a conversation I had last week with an old friend of mine that asks me here and there my opinion on things and gold shares in particular. A few years ago he told me, 5 or 6 I think, he went to his bank here in NY and ask to buy gold. They said fine he bought the gold and he paid storage fees and the gold was kept with the bank, as agreed.
This year he went to the bank and asked for the gold, where it is stored, as he was charged small fees all these years. They told him that he has no gold. When he said, what do you mean I have no gold, they responded he has no PHYSICAL gold, just paper gold. He said he did not ask for paper gold, he thought he had physical gold. They said sorry, you can sell your paper gold here and go to another bank where you can buy physical gold. He did so.

I told him to take possession this time and do his own storing. How many people are having paper gold in the banks thinking they have bought the real thing? A lot I think.  This guy is pretty sophisticated, yet he had no idea that he had paper gold.

Yesterday – after 2 weeks – I managed to buy some Krugers at a good coin dealer in Cape Town.
Limit was 5 pieces per person, they were all old, not one coin was minted after 2000 . In other words they are either not manufacturing them at all or they are immediately sold out. IMO it is clear that once the people lose faith in paper currencies it will be absolutely impossible to buy physical.

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