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 Replies: 25 / Views: 3,079 |
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Pillar of the Community
United States
2168 Posts |
I just read an article on a Dutch bank that will not release any 'held' PM to customers starting April 1. The article was not sure as to why not but of course suggested that just maybe the bank did not have the PMs to distribute. Frightening thought. Always have your PMs in hand. Seems a lot of issues with banks lately. Hope ours stay stable for now, but anything can happen overnight. Cyprus wasn't in the news until just the past couple weeks. It was always PIIGS! and look at the banks now in Cyprus. The Euro in my opinion has always had the future to fail since so many diverse economies do not function the same and thus an issue.
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Pillar of the Community
Mexico
1304 Posts |
Do you have a link to the article?
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Pillar of the Community
 United States
2168 Posts |
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Valued Member
Canada
281 Posts |
Dutch bank ABN Amro is obviously worried about a run on
precious metals lol. Unheard of as of now. They're really
looking ahead with the writing on the wall. This is directly
related to Cyprus. Like the writer says, I would pull out
all my metals out of there before the directive goes in to effect.
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Pillar of the Community
United States
2168 Posts |
I know; it really could spread as well. I believe some Cyprus banks are opening but not money can be taken out of the country.
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Pillar of the Community
 United States
2448 Posts |
"The return of my money has always concerned me more than the return on my money."
Will Rogers
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Pillar of the Community
United States
2168 Posts |
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Pillar of the Community
United States
2130 Posts |
angel2004, Thanks for sharing that. I believe in physical possession only. As for Pm's on paper - I'll pass. I wonder what the bank will do if their customers want to take possession of their Pm's before Apr. 1 ?  |
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Pillar of the Community
Mexico
1304 Posts |
It probably takes more than four days to process the paperwork so that has them covered. Even if that is not the case, I doubt any one party has enough in there to make them sweat.
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Pillar of the Community
United States
2168 Posts |
I agree Chris. I don't even buy online, just in person. Although I have purchased a little from the US Mint that's about it. No paper for me either. As far as those trying prior to April 1, who knows with Easter here, I don't know if closed tomorrow either. Good luck to all of them. Also, I just read about all the Cyprus bank withdrawl limits as well. Sad days.
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Pillar of the Community
United Kingdom
616 Posts |
It seems this would have nothing to do with safety deposit boxes which most people in the U.S. would use to store PM in a bank.
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Valued Member
Canada
281 Posts |
Quote:
It seems this would have nothing to do with safety deposit boxes which most people in the U.S. would use to store PM in a bank. If that's your case starbux, I would rethink that strategy if I were you. Please read this; http://investmentwatchblog.com/u-s-...those-boxes/ |
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Pillar of the Community
United Kingdom
616 Posts |
That's okay there is nothing surprising in what was published from the memo but my guess is context is missing. I can honestly say confiscation is nowhere on my current radar and the items listed in the memo make no sense for DHS to be seizing for financial reasons. I just assume this is the same as freezing a bank account.
Further, the DHS "shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence" any of the following items "bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature."
Edited by starbuxinvestor
04/03/2013 12:09 am
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Pillar of the Community
United States
2168 Posts |
A safe deposit is the last place to keep PM. Read up on it for yourself. Wills and ins policies are all I would keep there. Not insured byu the bank and if the bank closes you're stuck
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Pillar of the Community
United Kingdom
616 Posts |
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Valued Member
Canada
281 Posts |
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Replies: 25 / Views: 3,079 |
Posted 03/27/2013 10:37 am
