Commodities Firm Gunvor Group Ltd. Has Stopped Trading Gold!
Fractional Reserve Banking = FRAUD!
What I gather from Bloomberg ‘s report is:
2 major gold trading corporations have stopped trading gold, and that is BIG NEWS!
- “Gunvor’s exit from physical precious metals trading follows that of Deutsche Bank AG, which announced its departure last month.”
I also think the financial centers were interesting locations:
- “At least two traders are leaving the company in Geneva and Singapore, “…
And perhaps most telling is this statement:
- “Gunvor executives decided to abandon the precious metals trading business partly because of difficulties in finding steady supplies of gold where the origin could be well documented, one of the people said. Gunvor’s announcement earlier this year that it would begin physically trading precious metals was unusual as neither Glencore Plc (GLEN), the biggest metals trader, nor Trafigura Beheer BV, the second largest, trade physical gold.”
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