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#gold #default #physical #abnamro #banks
In this report, I will cover a story coming out of the Netherlands pertaining to the precious metals market. ABN Amro, the third biggest bank, in the Netherlands has told its clients that they need to close out their precious metals positions by Friday, March 27th, 2020 or the bank itself will close it out.
What this story shows is that one should not trust the banks as far as holding precious metals positions is concerned. My conclusion is that ABN Amro does not have their clients' physical gold and therefore is refusing to deliver it. Their excuse is that it is too difficult to ship.
De Telegraf Gold Story: https://www.telegraaf.nl/financieel/738388459/abn-klanten-moeten-hun-goud-verkopen-en-snel
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|Category||Business & Finance|
|Sensitivity||Normal - Content that is suitable for ages 16 and over|
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