Suppliers & Bank Clients Denied Gold As Shortage Intensifies
May 24, 2013
Today Egon von Greyerz shocked King World News with more stunning news regarding clients having problems getting their physical gold out of Swiss banks as well as other major banks as the gold shortage intensifies. Greyerz also discussed the fact that suppliers cannot keep up with demand and the reason will surprise KWN readers around the world. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this remarkable interview.
Greyerz: “Eric, at our company we are hearing more and more stories about banks not delivering gold that belongs to the client. We are talking about Swiss banks here once again. One client went to a Swiss bank to inspect his gold and the client manager said, ‘You can’t see it, but it looks like this,’ and he took a gold bar out of his drawer.
And the client showed me that he had a statement showing ounces of gold. Well, you don’t own physical gold in ounces in Europe. You own gold bars either in grams or in kilos, but not in ounces….