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A Swiss Bank Refuses to Hand Over an American Depositor’s Gold.
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<p>[QUOTE="yakpoo, post: 1698858, member: 18157"]If you go to the follow-on King World News Blog article, this article reports that this guy's "friend" had his money in a "gold allocated account" and the inference is that his deposits are held in (and deliverable in) physical gold. </p><p><br /></p><p>The point (true or not) is that withdrawal options are supposed to include delivery of physical gold, but the bank somehow changed its policy...presumably because they don't actually hold the physical gold promised by the "allocated account".</p><p><br /></p><p>I understand there can be different types of accounts that do this, that, and the other...and this account may or may not be correctly characterized in the article...but, based on the information presented, it sounds like the guy deposited physical gold (or money for the purchase of physical gold) into an "allocated account", but can't receive his physical gold on demand.</p><p><br /></p><p>How am I misunderstanding this?[/QUOTE]</p><p><br /></p>
[QUOTE="yakpoo, post: 1698858, member: 18157"]If you go to the follow-on King World News Blog article, this article reports that this guy's "friend" had his money in a "gold allocated account" and the inference is that his deposits are held in (and deliverable in) physical gold. The point (true or not) is that withdrawal options are supposed to include delivery of physical gold, but the bank somehow changed its policy...presumably because they don't actually hold the physical gold promised by the "allocated account". I understand there can be different types of accounts that do this, that, and the other...and this account may or may not be correctly characterized in the article...but, based on the information presented, it sounds like the guy deposited physical gold (or money for the purchase of physical gold) into an "allocated account", but can't receive his physical gold on demand. How am I misunderstanding this?[/QUOTE]
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