This is a heads up if you want to store metals in your local friendly large bank. Give it some thought.

Articles & Blogs - Canadian Commentary

storing: silver.

To provide the context to readers who haven't already absorbed all the relevant issues, there are two other “stories” - one old, one new – which closely relate to the revelations from the Bank of Nova Scotia's bullion-vault.

The first item was Morgan Stanley's bullion-fraud: where it only pretended to buy-and-store bullion for its own clients. Regular readers will already be familiar with this news, as I covered it in July of 2009 (see “Morgan Stanley pay damages for Precious Metals Fraud”). The other blockbuster news that ties in to this issue was the careless revelation by Jeffrey Christian of the CPM Group – yet another Goldman Sachs Stooge actively involved in the banksters' nefarious deeds in the precious metals market.

During the recent CFTC hearings, Christian blurted out that “the gold market was a hundred times the size” of the actual amount of “physical” bullion held by the (so-called) “bullion banks”. While I have long alleged that the banksters didn't have sufficient bullion to cover their gigantic “short” positions and their equally gigantic “custodian agreements” with the fraudulent, “bullion-ETF's” (most notably, GLD and SLV), the revelation that the banksters had leveraged their real bullion by (at least) 100:1 was a shock to everyone.

The rest of the article:

http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=10439:dont-store-bullion-with-bank-of-nova-scotia&catid=46:canadian-commentary&Itemid=134