Jim Rickards says Swiss banks are refusing to release large quantities of gold.
Metals guru James Turk says the Swiss are holding onto silver too. This anecdote also comes from King World News:
Let me just cite one example that is ongoing. This individual has been storing with a Swiss bank twenty bars (1,000 ounce bars) of silver which has a market value today of just over $550,000. So, it’s not only large transactions that are affected, but small ones too.
When I last emailed this individual a couple of weeks ago, he was still trying to get his silver from this Swiss bank. This has been going on for over two months, and again we are only talking about 20,000 ounces of silver.
Which goes to say there's two types of gold-and-silver bugs. The kind that buy metal ETFs, and the kind that keeps a treasure chest at home.
