Let’s now look at a second issue. Derivatives, specifically Gold Backed Derivatives issued by such banks as J.P. Morgan, Barclays Capital, Meryl Lynch, Citibank, ABN-amro, and sold through off shore subsidiaries in such places as the Caymens, Dutch Antilles, Turks & Caicos.
There is no Gold backing these derivatives, and I will say that again so that everyone understands………THERE IS NO GOLD BACKING THESE DERIVATIVES.
These banks who are Custodians of Gold held under the Combined International Collateral Accounts, illegally used this Gold and claimed it as the Collateral (backing) for these Derivatives. There is no, and was no authority ever granted to use this Gold and as such this Gold is NOT the collateral behind these derivatives. They have no backing behind them, no collateral, they are just worthless bits of paper that the public has be scammed with …….. REPEAT, THESE DERIVATIVES ARE NOT GOLD BACKED. THEY ARE WORTHLESS BITS OF PAPER.
Our estimation of the value behind these illegally issued Gold Derivatives is a minimum $600 trillion US Dollars ………YES $600 TRILLION US DOLLARS, MINIMUM.