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The ‘Big Long’ – Goldman Sachs And HSBC Buy 7.1 Tons Of Physical Gold
Monday, August 10, 2015 11:34
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by Avery Goodman
Seeking Alpha
On August 6, 2015, Goldman Sachs (NYSE:GS) and HSBC (NYSE:HSBC) took delivery of a sum total of 7.1 tons of physical gold. No, I have not made any typographical errors. And no, I am not talking about electronic paper claims. I am talking about shiny yellow metal stuff that you can touch and feel.
The gold bars were not purchased for bank clients. They were purchased for the banks themselves. How do I know this? They are designated by the exchange as being for delivery to the bank’s “house” accounts at COMEX, not to client accounts.
Goldman Sachs, alone, took 3.2 tons worth of physical gold bars. Yet, even as the firm builds its stockpile, Goldman tells clients not to do it.
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Source: http://financialsurvivalnetwork.com/2015/08/the-big-long-goldman-sachs-and-hsbc-buy-7-1-tons-of-physical-gold/?utm_source=rss&utm_medium=rss&utm_campaign=the-big-long-goldman-sachs-and-hsbc-buy-7-1-tons-of-physical-gold
