- Prison Planet.com - http://www.prisonplanet.com -
Banks Pledge Same Gold to Numerous People
Posted By admin On December 23, 2012 @ 7:32 am In Commentary | Comments Disabled
Washington’s Blog 
Dec 23, 2012
Big banks pledged the same mortgage to numerous people .
Similarly, big bullion banks borrow gold from central banks, and then rehypothecate it numerous times:
(Options contracts on all commodities are similarly over-leveraged.)
A 1999 study by the International Monetary Fund found that 80 central banks lent out 15% of their official gold reserves .
Central banks now appear to have too little gold to meet their commitments .
And private banks are raiding allocated gold accounts .
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/banks-pledge-same-gold-to-numerous-people.html
URLs in this post:
 Washington’s Blog: http://www.washingtonsblog.com/2012/12/banks-pledge-same-gold-to-numerous-people.html
 pledged the same mortgage to numerous people: http://www.washingtonsblog.com/2010/10/how-did-the-banks-get-away-with-pledging-mortgages-to-multiple-buyers.html
 80 central banks lent out 15% of their official gold reserves: http://www.gata.org/node/12009
 too little gold to meet their commitments: http://www.washingtonsblog.com/2012/11/the-emperor-has-no-gold.html
 raiding allocated gold accounts: http://www.washingtonsblog.com/2012/07/beware-allocated-gold-may-not-really-be-there.html
Copyright © 2013 Prison Planet.com. All rights reserved.