Swiss banks promote gold allocation to stop outflow of metal, von Greyerz says
2:53p ET Thursday, January 31, 2013
Dear Friend of GATA and Gold:
Swiss gold fund manager Egon von Greyerz today tells King World News that most economies and currencies are self-destructing. Most interestingly von Greyerz argues that the recent promotion by Swiss banks of their allocated gold accounts is aimed at stopping depositors from removing their gold from the banking system. But von Greyerz does not think that gold allocation at banks will be enough to protect gold depositors if banks fail and central banks want to grab their gold. An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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GoldMoney adds Singapore vaulting option
In addition to its precious metals storage facilities in Hong Kong, Switzerland, Toronto, and the United Kingdom, now with GoldMoney you can store gold and silver in Singapore in a high-security vault operated by Brink's Singapore Pte Limited. To celebrate the launch of this storage option, GoldMoney is offering a discount on buy and exchange fees at this vault for any orders above US$10,000 (or the equivalent) until January 31, 2013. Tthe gold buy rate is 0.98%, while the silver rate is 1.99%. Metal exchanges into Brink's Singapore will also be discounted for this period and will be charged at 0.78% for gold and 1.75% for silver. Simply place your order online and the above rates apply automatically until January 31, 2013, 15.00 UK time. To find out more about the new vault, please visit:
GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults.
It's easy to open an account, add funds, and liquidate your investment. For more information, visit: