“Since King World News broke the news with Jim Rickards that a Swiss bank client was refused his $40 million of gold and had to threaten the bank to get it, the story has been going viral. KWN interviewed James Turk out of London today to get his comments on the situation. Turk responded by citing another example, â€œI found that Jim Rickards comments about the individual who had difficulty getting $40 million of gold out of the Swiss bank where he had it stored very interesting. I could tell you several stories of similar experiences.â€
“What in the world is going on with some of these banks that are supposed to be storing their customers gold and silver? Have they leased it out to another entity? Have they sold their customers precious metals and left an IOU in the vault while continuing to charge custodial fees? King World News may have only scratched the surface of what could turn out to be a fraud inside of some of these banks.”
The physical metal situation gets more disturbing by the day. I’m afraid we are going to see many situations like this. Time to audit Ft Knox while we’re at it.