ALERT: Deutsche Bank refuses clients' demand for physical gold
Clients of Germany’s biggest bank who have invested in the exchange-traded commodity Xetra-Gold are facing problems when they want to obtain physical gold, according to German analytic website Godmode-Trader.de.
Xetra-Gold is a bond on the Deutsche Börse commodities market, and Deutsche Bank is a designated sponsor. On the website, Xetra-Gold says its clients have the right for physical delivery of gold.
However this doesn't seem to be the case. Apparently one customer went to Deutsche Bank asking for their gold back but they were refused claiming the service was no longer available. Which means the service was working at one time but for some unknown reason it's been canceled. The question is why Deutche Bank canceled this service? Could it be like most experts have stated the physical gold really doesn't exist or it's not owned by one single person?
We are very near the 'end game' scenario for the big banks it only takes one little story like this to cause a panic and there's runs on banks. Prepare now, make sure you have some cash and or precious metals at home if there's runs on these banks and they declare a bank holiday and close up shop.
https://www.rt.com/business/357890-deutsche-bank-gold-germany/
With all this computer trading. I wonder if there's really gold, oil, etc behind it? Even I wonder every time you use your credit card, if banks even set aside the money... What if all the merchant account holders withdrew cash at the same time?
Its starting. The time is going to come when nothing will beat having cash and gold IN HAND (and some crypto as well).
I am very interested in seeing how cryptos play out during the collapse. I'm sure they will go up but how easily will it be to buy basic goods with them once the shit hits the fan?
That's precisely the problem. They are not widely accepted as money or currency yet. I think you'd still have to exchange for fiat to buy food and basic necessities, so hopefully they increase in value enough where one only has to exchange a small portion of their holdings to do so.
Great article. Was happy to share this on Twitter at stephenpkendal. Stephen.