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Banks Pledge Same Gold to Numerous People

Posted By admin On December 23, 2012 @ 7:32 am In Commentary | Comments Disabled

Washington’s Blog ^[1]
Dec 23, 2012

Big banks pledged the same mortgage to numerous people ^[2].

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 ^[3].

Central banks now appear to have too little gold to meet their commitments ^[4].

And private banks are raiding allocated gold accounts ^[5].

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URL to article: http://www.prisonplanet.com/banks-pledge-same-gold-to-numerous-people.html

URLs in this post:

[1] Washington’s Blog: http://www.washingtonsblog.com/2012/12/banks-pledge-same-gold-to-numerous-people.html

[2] 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

[3] 80 central banks lent out 15% of their official gold reserves: http://www.gata.org/node/12009

[4] too little gold to meet their commitments: http://www.washingtonsblog.com/2012/11/the-emperor-has-no-gold.html

[5] raiding allocated gold accounts: http://www.washingtonsblog.com/2012/07/beware-allocated-gold-may-not-really-be-there.html

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