I have mentioned this a couple times over the years, and something BIG just happened on this topic - a German man who had 299 ounces of paper gold tried to cash it in for real gold, and the company he bought it at did not have it on hand.

"See below for translated version of the actual article in German. . ."

So let me entertain you with how the scam works, and how gold prices have been kept low:

Jacob decides to open a gold trading business selling paper gold. Daddy Jacob Senior happens to have about 500 million he can loan Junior. Junior then sets up a corporation which is a person under the law just like you and me. That "person" and not Junior, will take the rap when Junior pulls out and robs everyone. I know, that should not be legal but it is. It's how the modern scam is run. Anyway -

Jacob decides to name his newly created "person" Equity Asset Group, and actually does have daddy's money (at first) to back it up. He gets some physical gold on hand for audits, (lots of it) and it all looks legit. He then puts the gold on the market, and advertises "Buy gold from Equity Asset Group" and we'll even store it for you, so you don't need to worry about security and having it be stolen. Then Clyde, who's getting old, sells the farm and buys gold from "Equity Asset Group" and is happy, because he knows his gold is safe if his apartment gets robbed.

200, 000 people just like Clyde "buy gold", SO MUCH gold that in total, they put 2.5 billion into the kitty, which is only backed by $500 million in gold. Jacob Junior then buys a couple jets with the excess 2 billion and funds Planned Parenthood and others because that will keep him safe during audit time in this satanic system, and throws a little more into parties and paying back daddy the original 500 million and perhaps even sets up a few foundations so he can do a little laundering and play the Soros gig.

Everything's sailing along just fine, so he decides to "sell more gold" and leverages that original $500 million's worth to 10 X instead of 5 X. He MILKS IT GOOD, repeatedly, until it is out 20 or 30X. It all works fine, because Clyde and the rest of them are happy their "gold is safe somewhere" and Jacob Junior did have enough to answer the occasional request for it. But when taken, he never put anything back. Now he's got $190 million worth of gold but so what, it's working and he's floating in BILLIONS.

Then, someone calls out the last batch of gold like this guy in Germany did, and it can't be delivered. Jacob then declares the "person" he set up to front it all as the culprit, people sue that "person" - Equity Asset Group - get nothing, and Jacob walks free, having robbed that person blind. Now he's got a few billion left over to start the process all over again and invents an entirely new person out of thin air to take the rap.

The above is a bit simplistic, but it outlines the situation PERFECTLY.

Right now, the gold markets are leveraged at least 10:1 against actual gold available, there's not a chance they can pay it all out. That means they stole 90 percent of people's money based on a fiction of "value" and an illusion that something was actually there to cover it. This can't possibly end well, if you have paper gold you had damn well better cash it out for real gold - one little bit at a time - because the vast majority of the people who got suckered into it are going to get screwed. BE THE FIRST IN LINE BY ACTING NOW. Do not let the guy holding the short stick be you!

UBS refuses to give German clients 8 kilos of gold

The federal court partially approved the complaint of a German client of the major bank UBS.

The man requested that his 299 ounces of gold be given to him. The bank refused because the man did not want to confirm the correct taxation of the gold in writing. Now the Aargau High Court as a lower court has to examine whether UBS would be punishable under German law by surrendering the approximately 8.4 kilograms of gold.

The German invested three times in a UBS precious metals account in 2003 and 2007. In January 2014, he wanted to pick up his gold ounces. At the time, they had a value of around CHF 330,000.

Because the man did not want to sign the correct tax reporting form, the bank terminated the relationship at the end of March 2014. The customer did not mind. However, he still asked for the gold to be released. He refused a transfer to another financial institution.

In February 2019, the Aargau High Court decided the dispute in the sense of UBS. It came to the conclusion that the bank had to ensure on the basis of the Money Laundering Act that the paper trail was not blurred. This means that it must be traceable based on documents where the values ​​come from and where they are going.

The Federal Supreme Court sees the matter somewhat differently and overturned the decision of the Aargau High Court in a judgment published on Thursday. According to the judges from Lausanne, a doubtful business relationship cannot be assumed in the present case. With the physical delivery of the gold, the money laundering law is not violated. Therefore, there is no obligation to keep track of the transaction.

However, the question for the Federal Court is whether handing over the ounces would violate German law. This could result in a violation of Swiss supervisory standards in accordance with the Banking Act.

The Aargauer Obergericht must now examine in particular whether the handing over of gold should be qualified as a criminally relevant aid to a tax offense under German law. The Federal Supreme Court wants to avoid that banks can pass on any remote risk of their own sanctioning to a foreign customer, as the judgment shows.

Even in the event of a possible risk of criminal prosecution of the bank abroad, it should not be concluded without a country-specific check that the German customer can be expected to disclose his assets for tax purposes and to carry out any necessary tax adjustments. The interests of the customer and the bank should be weighed up against each other.

Sent by rod@disroot.org