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<p>[QUOTE=&quot;desertgem, post: 1222901, member: 15199&quot;]Remember several months ago, when the bullion sellers were all going on about how China wanted their citizens to get Precious metals, and that even the Bank of China was going to accept it into deposits for them?? This was suppose to drive PM to the moon as Gold and Silver would go into the Chinese citizens accounts and thus reduce supply.</p><p><br /></p><p><br /></p><p><a href="http://www.bochk.com/web/common/multi_section.xml?section=investment&amp;level_2=precious_metals&amp;fldr_id=251" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.bochk.com/web/common/multi_section.xml?section=investment&amp;level_2=precious_metals&amp;fldr_id=251" rel="nofollow">http://www.bochk.com/web/common/multi_section.xml?section=investment&amp;level_2=precious_metals&amp;fldr_id=251</a></p><p><br /></p><p>Look at the URL above, especially bullet 3<b> &quot;All sale and purchase transactions will be recorded in a passbook and&nbsp; settled through the Settlement Account. Also, there will not be any&nbsp; physical delivery of precious metals and there is no need to worry about&nbsp; problems associated with delivery or custody.&quot;</b></p><p><br /></p><p>That was the B of C great idea. Have citizens pay for the gold that stays in the bank for the banks use, as the depositors can never get it back as physical. And the PR part about never worrying about problems with delivery or custody as there is none.&nbsp; Wonder how much of that the bank sells ( shorts)? </p><p><br /></p><p>GLD and SLV are trusts and have specific regs they must follow, and as I have said before, they are written in favor of the banks who are principals, and yes they can short ( but not naked ), and they do&nbsp; limit physical delivery except for the principles redeeming a &quot;basket&quot; of shares, but it is in the trust papers, and anyone who buys/sells such should be familiar with the terms. </p><p><br /></p><p>Maybe they will get you gold for your money, and when redeemed, you won&#039;t get gold, but maybe US Treasury notes <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> Wouldn&#039;t that be a funny Chinese revenge.[/QUOTE]</p><p><br /></p>

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