Crackdown on Bank Commodity Holdings?
1) the ban on 'investing in non-financial companies', which is highly ironic given that other central banks are directly buying massive stakes in the world's corporate entities; and
2) restrictions on physical ownership of commodities, which raises eyebrows on both oil manipulation and the hoarding of precious metals ahead of The Fed losing control.
Would this pressure JP Morgan to sell their alleged (Ted Butler) massive physical silver holdings?
The article only mentions COPPER (as a precious metal? huh?) for now.
Remove copper from the list of precious metals that all bank holding companies are permitted to own and store; and
Establish new public reporting requirements on the nature and extent of firms' physical commodity holdings and activities
Arnold Palmer, golf legend, dead at 87
I got a buddy with a 401k of about 40,000 dollars he can rollover to IRA account. I thought I heard somewhere in an interview a couple years ago there is a way to rollover a 401K into some kind of physical metals account, is there something like that out there? or as another option, is there a way to make sure the rollover to IRA goes into only gold and silver mining stocks and can you determine those mining stocks yourself somehow?
Thanks in advance for any advice!
stargate-mike wrote: I got a buddy with a 401k of about 40,000 dollars he can rollover to IRA account. I thought I heard somewhere in an interview a couple years ago there is a way to rollover a 401K into some kind of physical metals account, is there something like that out there? or as another option, is there a way to make sure the rollover to IRA goes into only gold and silver mining stocks and can you determine those mining stocks yourself somehow? Thanks in advance for any advice!
As you are by now undoubtedly fully aware Mike,
you have inherited the mantle of FNG
(ie the default pariah of the status quo)
ergo, it falls upon the resident AIC
to extend you the common courtesy to give you the benefit of the doubt,
and welcome you to "Turdville"
Since your "buddy" is new to the Internet,
permit me to offer one word of "advice":
and provide some links which can help your "buddy"
along the path of self illumination via the Internet
Sean at SGTReport.com interviews Sinclair & Holter. I've been anticipating this one since Bill mentioned that Jim wanted this interview with Sean/SGTReport a few weeks ago.
"Egan: Many Mint workers fired for suspected theft, "gold-in-rectum" trial hears...
The employee suspected of smuggling gold up his rectum from the Royal Canadian Mint would not be the first inside job at the Crown corporation on Sussex Drive."
"Americans would be stunned to learn that the German Deutsche Bank, which perpetually finds itself on the wrong side of the law, was bailed out in five separate U.S. emergency lending operations during the 2007-2010 financial crisis, receiving more than twice the emergency financial assistance as that received by Lehman Brothers, the failed U.S. investment bank.
According to the Government Accountability Office (GAO), Deutsche Bank received cumulative loans totaling $77 billion under the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and $277 billion in cumulative loans under the Term Securities Lending Facility (TSLF) for a total of $354 billion. Lehman Brothers received only $183 billion in Fed emergency lending programs according to the GAO report. (See GAO chart below.) These loans were made at below-market interest rates, thus constituting a bailout."
"This suggests that the previous news of a massive hack at Yahoo previously blamed on Russians may have been all the doing of Marissa Meyer herself, under pressure by the NSA. "