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"Canada's only bullion bank gold vault is practically empty," asserts ZeroHedge, and the Central...

"Canada's only bullion bank gold vault is practically empty," asserts ZeroHedge, and the Central Fund of Canada may be "insolvent." Is it all a massive ponzi? "When the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history."
Comments (9)
  • joelandsonia
    , contributor
    Comments (14) | Send Message
     
    1 ) The CEF header got pulled *real* fast
    2 ) [from comments]
    If you listen closely to the interview, it it the vice-president of an unnamed bank who calls the president of CEF for assistance with his problem of getting delivery of his metal from Bank of Nova Scotia.

     

    CEF is not involved in this story, only the President of CEF, and he is acting in the capacity of a friend/advisor to someone having difficulties with a 3rd party.

     

    So far, CEF remains as a holder of fully segregated and allocated metals, held in vault of The Canadian Imperial Bank of Commerce. Not to say that this may be disproved in the future, but to me, not yet.
    7 Apr 2010, 03:17 PM Reply Like
  • nightfly
    , contributor
    Comments (1017) | Send Message
     
    The delusional won't see it until the tungsten brick hits them in the head, twice.
    7 Apr 2010, 03:17 PM Reply Like
  • jculley
    , contributor
    Comments (429) | Send Message
     
    No, there won't be a run on the banks for gold. They'll do what every government does when on a gold standard and tear up the old conversion rate and write a new one that is covered.
    7 Apr 2010, 03:17 PM Reply Like
  • C.A. Grange
    , contributor
    Comments (47) | Send Message
     
    Why does Seeking alpha post articles from zerohedge, its about as credible as the gossip magazines.... Tyler is about as irrelevant as they come..
    7 Apr 2010, 03:23 PM Reply Like
  • DaJoker
    , contributor
    Comments (106) | Send Message
     
    you've been brain washed
    7 Apr 2010, 08:06 PM Reply Like
  • 347827
    , contributor
    Comments (35) | Send Message
     
    You should listen to the facts before posting:

     

    www.kingworldnews.com/...
    7 Apr 2010, 09:06 PM Reply Like
  • huskerbob
    , contributor
    Comments (190) | Send Message
     
    C.A.: I guess you missed the articles about HFT. And there are frequently articles in zerohedge which are later covered by the mainstream press. I wouldn't call them "irrelevant" after they spurred Congressional action.
    P.S: If you were being sarcastic, I apologize:)
    7 Apr 2010, 03:51 PM Reply Like
  • 347827
    , contributor
    Comments (35) | Send Message
     
    The ScotiaMocatta empty vault should contained at the very least the Gold & Silver bullions of Claymore Investments Inc.

     

    They list on their website,( claymoreinvestments.ca.../ ), the bullions they are alleging to have stored there; This, as of yesterday, was $472 millions of gold (seekingalpha.com/symbo...) and $77 of silver(seekingalpha.com/symbo...) for a total of say $550 m.

     

    Adrian Douglas estimated at only $100 millions what was inventoried in the vault.

     

    This is more than a shortage and Claymore is the smallest bullion fund in Canada.

     

    I own a chunk of these fund and for the last 3 months, I have been asking Claymore for the Ernst & Young audit report of Claymore holdings of this facility and the last response from Claymore was:

     

    "The actual bar audit list is not a public document – E&Y does not allow us to release it for public viewing. The data that is posted on the website is essentially the information attained through the audits."

     

    NOW HEAR THIS:
    I am a co-owner.
    My depository is Scotia Bank.
    My agent is Claymore.
    and my auditor is Ernst & Young.
    The auditor is paid to confirm to me that what Claymore and Scotia Bank are claiming are facts.

     

    They all claimed that I cannot have access to an audit I paid for from an agent I pay to hold my gold which is apparently not there....

     

    What a racket! I am not sure I will be able to sleep tonight!
    7 Apr 2010, 06:30 PM Reply Like
  • 347827
    , contributor
    Comments (35) | Send Message
     
    For those of view that have not yet heard the audio of what is referred to as Gold Bombshell #3, Here it is:

     

    www.kingworldnews.com/...
    7 Apr 2010, 06:35 PM Reply Like
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