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Financial Fraud in the Gold Market: Banks Pledge Same Gold to Numerous People

By: capt_nemo in WRGO | Recommend this post (0)
Mon, 24 Dec 12 2:06 AM | 273 view(s)
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Banks Pledge Same Collateral Numerous Times

Big banks pledged the same mortgage to numerous people.

Similarly, big bullion banks borrow gold from central banks, and then rehypothecate it numerous times:

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.

This is completely unsustainable, and this practice will ultimately destroy the banking system.
http://www.globalresearch.ca/financial-fraud-in-the-gold-market-banks-pledge-same-gold-to-numerous-people/5316607




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