This is not earth shattering news i.e silver hedging, metals manipulation, but this happening from a Canadian Bank is new to me.
Written by Jeff Nielson
Friday, 09 April 2010 10:46
Articles & Blogs - Canadian Commentary
User Rating: / 5
Thanks to several Bullion Bulls members for passing along the link to another intriguing issue relating to the legitimacy of the global gold (and silver) market. A follow-up interview from the “King World News” site took aim at the bullion-storage of Bank of Nova Scotia – or more particularly, what they weren't storing: silver.
To provide the context to readers who haven't already absorbed all the relevant issues, there are two other “stories” - one old, one new – which closely relate to the revelations from the Bank of Nova Scotia's bullion-vault.
The first item was Morgan Stanley's bullion-fraud: where it only pretended to buy-and-store bullion for its own clients. Regular readers will already be familiar with this news, as I covered it in July of 2009 (see “Morgan Stanley pay damages for Precious Metals Fraud”). The other blockbuster news that ties in to this issue was the careless revelation by Jeffrey Christian of the CPM Group – yet another Goldman Sachs Stooge actively involved in the banksters' nefarious deeds in the precious metals market.
During the recent CFTC hearings, Christian blurted out that “the gold market was a hundred times the size” of the actual amount of “physical” bullion held by the (so-called) “bullion banks”. While I have long alleged that the banksters didn't have sufficient bullion to cover their gigantic “short” positions and their equally gigantic “custodian agreements” with the fraudulent, “bullion-ETF's” (most notably, GLD and SLV), the revelation that the banksters had leveraged their real bullion by (at least) 100:1 was a shock to everyone.
This sets the stage for the “King” interview with Harvey and Lenny Organ (father and son) along with Adrian Douglas – one of GATA's valiant directors. As a last detail, the Bank of Nova Scotia operates the primary bullion-storage vault for all of Canada and is the Canadian bank which is most active in the infamous “gold-trading” of the anti-gold banking cabal, which is rapidly losing its “grip” on this market, after a quarter century of ruthless price-fixing.
Lenny Organ had been repeatedly requesting access to the Bank of Nova Scotia's bullion vault, in order to verify his own, personal holdings – which he had chosen to buy and store through that bank. He finally obtained his invitation in September 2008, just before the most-massive spike in bullion-buying in decades (after the Wall Street-induced “crash” of 200.
The rest of the article is linked if you are interested: