It’s happened again. London whistleblower Andre Maguire told King World News that one of the largest banks in Germany just refused to return a client’s gold the bank was supposedly storing for the client.
German Bank Refuses To Return Client’s 1/2 Tonne Of Gold
July 6 (King World News) – Andrew Maguire: “Eric, over the last few months we have been observing Swiss and German banks enforcing cash and gold withdrawal limits for clients. Currently, Swiss banks are capping client cash withdrawals to between 100,000 – 200,000 euros. Although the onus is placed upon individual banks to decide cash withdrawal limits for their clients, we have recently seen these limits enforced more strictly. This has to be an unannounced official mandate as it is now being widely reported by our clients…
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Many Banks Now Refusing To Return Client’s Gold
Andrew Maguire continues: “It’s important to understand that these cash withdrawal limits also determine physical gold withdrawal limits. It is the strictly enforced physical gold withdrawal limits that have our attention. Following at least 10 similar reports to us of banks refusing to deliver clients’ physical gold bars, this week a very wealthy client sought to remove 500 kilos of his physical gold from a German bank for safekeeping in a secure, independent vault. The bank refused delivery of his gold bars.
These refusals to deliver bullion are now resonating loudly enough to prompt something to be officially sanctioned soon. Cash restrictions are already in place, however, the problem officials potentially face is being forced to go to market to buy thousands of tonnes of gold bullion to meet the surge of requests to withdraw bullion. That is simply not going to be allowed happen as the bulk of unallocated exposure sits on the balance sheets of the too-big-too fail bullion banks…
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Andrew Maguire continues: “We are also evidencing a large move to allocate and remove gold and silver from the interconnected legacy banking system. This is creating a supply shortage ahead of season. And I strongly suspect the blatant officially rigged price decline into such a tight physical gold market is coordinated with officials quietly slamming the back door on clients looking to remove gold out of the legacy system.
To avert a bailed-in daisy chain of bank defaults, there is only one solution and it would not be considered a default — a weekend cash settlement of all unallocated gold and silver accounts, with the insiders pre-positioned long FX & related Comex gold & silver futures. Such an action would still leave cash withdrawal limits in place or tightened. Think this can’t happen? Ask those that woke up to a bail-in in Cyprus, where even bank deposit boxes were locked. Similar European & US bail-in legislation is already in place.
Audio Interview To Be Released Within Hours!
Whichever way you cut it, as far as gold is concerned, there is clearly a mandate in place to stem the upsurge of requests to remove physical bullion out of the unallocated pool of fractional gold held within the bare vaults of the interconnected legacy banking system. And these reports are not unnoticed by competing central banks and sovereigns, who are…KWN has just released the remarkable audio interview with London whistleblower and metals trader Andrew Maguire and you can listen to it immediately by CLICKING HERE.
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