# How much imaginary gold has been sold ?



## Palladium (Oct 21, 2009)

Interesting article :arrow: 

http://news.goldseek.com/GATA/1255878000.php


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## Irons (Oct 21, 2009)

It's all about transaction fees. The more they can churn the imaginary Gold, the more money the brokers make.

Gold sitting in a vault makes them money only on storage fees.

They get greedy and churn Gold that doesn't exist.


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## AKDan (Oct 21, 2009)

Can you say 'derivative' :lol:


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## Oz (Oct 21, 2009)

Irons said:


> It's all about transaction fees. The more they can churn the imaginary Gold, the more money the brokers make.
> 
> Gold sitting in a vault makes them money only on storage fees.
> 
> They get greedy and churn Gold that doesn't exist.



Morgan Stanley bought silver and other precious metals for their clients for almost 20 years charging them storage fees to keep their metal safe and secure.

Just 1 problem, they never bought the metals and charged fees to store something they did not have. This went to court but Morgan Stanley settled it out of court with no admission to guilt.

http://www.cafalawblog.com/int751.PDF

And still people keep believing in paper.


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## nickvc (Oct 22, 2009)

Hmmm.I still think theres more physical gold around than is acknowledged this looks to be some proof,as ive said before its been stolen from day one by individuals companies and governments and im sure loads of it has never been near official accounting. I remember years ago a customer was trading large volumes of alluvial gold that certainly wasnt from the uk...if he was at it who else was?


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## Palladium (Oct 22, 2009)

The Court concludes, after a hearing, that the cash component of the settlement,
$1.5 million, is fair, reasonable and adequate to the members of the class and, on this
basis, the settlement is approved. Plaintiff’s counsel’s fee award will be set at $300,000 or
20% of the cash component of the settlement, plus expenses of $150,016.44 :shock: :shock: :shock: 




First they got ripped off by Morgan Stanley, Then they got ripped off by the settlement amount, then when they did get something the dam lawyer ripped them again. The only people i see that won was Morgan Stanley and the lawyers.

Sad !


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## Anonymous (Oct 22, 2009)

Hey this is why you not should buy papersilver. We have a good article about it on our site http://libertysilver.se/pages.php/page/fysiskt_silver/

Edit: It's on swedish click the english flag up in the left corner if you want english.


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## Oz (Oct 22, 2009)

Tommy, am I reading these prices correctly?

"Below is the statistics for completed auctions in the two months between October 5 – December 5.
1 oz silver bars: 48 auctions completed. Average price of SEK 186 (€ 17.6*) 
1 oz silver coins: 37 auctions completed. Average price of SEK 209 (€19.75*)"

If so, that’s amazing considering silver spot was around $10 US at the time. At this moment the premiums over spot on eBay are averaging about…
1 oz US Eagle spot +20%
1 oz Philharmonic spot + 17%
1 oz generic round spot + 9%


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## nickvc (Oct 24, 2009)

Palladium said:


> Interesting article :arrow:
> 
> http://news.goldseek.com/GATA/1255878000.php


The most interesting part for me was the link to thunder road at the top of the article.....now that is mind blowing!!!


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## nickvc (Oct 25, 2009)

Perhaps someone is selling volumes of sea water as gold futures(lmao) at todays prices its total value is approx £54,320,000,000,000,000 give or take a few billion..Now theres an idea it at least exists... :twisted:


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