I would classify this as Fear Mongering in an effort to make a profit from selling silver and gold. Sadly, some will see this as an opportunity to convert some of their money through this scheme and then again pay at the other end when the time comes to cash them in.
Thanks for the warning, Siberios. I'll try not to be unduly afraid, and stay away from the precious metals.
RU
Well not exactly saying stay away but I'd suggest buying from the bank or Mint... reputation means more to me.
While I appreciate your suggestion Siberios, it's the reputation the banks have that concerns me.
You'll notice that the advertising on the site which had the article I posted was primarily for ASE's (American Silver Eagles) at significantly lower premiums than ScotiaBANK offers. ASE's are recognised all over the world as a product of the American Mint. We have a similar disparrity here with Silver Maples and the banks. Why would you suggest anyone pay more for a globally recognised product of RCM from a bank, when they could achieve the same result from a reputable dealer for 2 to 3 dollars less per coin?
Are you familiar with the reputations of Lehman Brothers and Bear Sterns, or a few of the banks in Cyprus?
The reputations of the banks I've had experience with are that of over charging and fractional reserve ponzi schemes.
My impression of the article I posted had more to do with warning, much like that of letting someone know when a bridge is out. Not paralysing terror. I hope you'll check deeper into the facts presented in the article, as well as the reputation of the writer, Steve Quayle so as to really ascertain fear mongering or not.I hope also you're understanding where I'm coming from.
RU
R U Really. I am totally blown away! You are right! We are going to be so screwed over by the banks! And Look! now they are predicting the worst depression EVER!
Must be true! Just read it on the internet!
Gotta stuff my mattress!
You got me, Siberios.
I'll treat your response (which I just read on the internet) with the sober scrutiny that you suggest.
Since you didn't really respond to any of the facts and assertions I presented, I'm curious. Which bank do you work for?
RU
Documented and substantiated.
RU
"I would classify this as Fear Mongering in an effort to make a profit from selling silver and gold..."
Well, you know what they say about 'opinions'....they're just like !@#$@!*%...Everyone's got one! 😆
"Our main business is not to see what lies dimly at a distance, but to do what lies clearly at hand." . ~Thomas Carlyle, 1795-1881