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20 YEAR METALS TRADER WITH MORGAN STANLEY: EVERY METALS TRANSFER REQUEST FROM MAJOR BROKER IS BEING REJECTED MULTIPLE TIMES
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[quote:Anonymous Coward 18683458:MV8yMjU1ODEyXzM4NzEzMTkzXzkzQzczQjU=] Well duhhh.... There in a panic because they sold the gold they were holding,for cash, but now they need there gold back because the owners of that illegally sold gold don't want cash,they want there physical gold that is there's.and the custodians are like can't we just pay you in cash please. Pretty please. Greed and stupidity full on... Lol. Awsome!!:1rof1: [/quote]
Original Message
I have been a broker for 20 years. Recently the major broker dealer I work for asked me and my clients to leave due to too high of a concentration in physical metals.
I am now in the process of moving my clients and metals to a new custodian. Here is where things get interesting: Every transfer is being rejected multiple times for the any reason the old major broker dealer can come up with.
More interesting is all, when the old broker dealer finally does transfer the metals to the new custodian, NONE of the bars are the same in weight or serial number as my clients’ statements!
The old broker dealer is having to come to me and my clients with bars of different serial numbers and weight than the one listed on the statements or from old trade confirms
[
link to silverdoctors.com
]
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