Largest Dutch bank defaults on physical gold deliveries to customers Last week, a rubicon was crossed in the precious metals market as one of the largest banks in Europe defaulted on their gold contracts, and informed their customers there was no physical gold available for delivery.
ABN AMRO, the largest Dutch bank in the Eurozone, issued a letter to their gold contract customers of failure of delivery, and instead will pay account holders in a paper currency equivalent to the current spot value of the metal.
As a historian in his primary field of study, and an investor in the real world, Kenneth has a keen perspective on all facets of the financial world. He has owned his own business and corporation, and has been an investor in many different markets such as securities, real estate, currency trading, and international trusts. His desire is to provide you with the true understanding of markets and the economy, and to give you the information that will help you make your own decisions in these troubling, and quite often, fascinating times regarding your economic decisions. Kenneth is not a certified financial advisor, and his only goal is to give you true information, by which you can see things as they happen, and in many cases, before they happen.