Deutsche Bank Refuses Delivery Of Physical Gold Upon Demand Diana Chu

Deutsche Bank was unable to satisfy a gold delivery request when asked to do so by a client of Germany's Xetra-Gold service.

Today I'm here in the Parliament Building of Alberta shooting my video, which is a little different than before. Welcome

This is big news about Deutsche Bank refusing to deliver physical gold upon request by client on September 1st.

There is another company called Xetra-Gold service works together with Deutsche Bank. Xetra-Gold service is a publicly traded company which features cost-efficient trading and the right for physical delivery of gold.

The company makes the following promise: Redemption for gold and delivery of gold

Xetra-Gold is representing that every gram of gold purchase electronically is backed by the same amount of physical gold and its principal bank is Deutsche Bank.

The Deutsche Bank account executive informed the investor that "the service." is no longer offered, namely exercising physical delivery at Xetra-Gold, reasons? "business policy." Therefore the order form provided by Clearstream Banking,AG for exercising Xetra-gold is no longer available.

This is just another "paper only" play.

This was around March of this year and Deutsche Bank admitted it rigged the gold and silver market along with other banks, resulting in a big lawsuit

I also know, as do other experts, that a lot of banks oversold the paper contracts of gold and silver; overselling 40 times, as some would say (while others say as many as 500 times).

So investors have to be aware and maybe should think twice about this kind of a paper market because someday when some people want to claim the physical gold or silver the banks might not be able to deliver.