OTCQX:NTGSF - Post by User
Post by
easycoderon Jun 09, 2020 7:44pm
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Post# 31131148
Floor under gold
Floor under gold Good story here - bullion bank caught short of physical and customers wanted gold bars not dollars.. Had to beg, borrow, steal and pay a big premium to settle. Lost a ton of money and got out of the business....
Scotiabank, which has roots in precious metals going back to the late 1600s, is closing its metals trading business. The firm announced it would exit the business and set aside $168 million to cover the costs of blowing up a formerly profitable racket. https://silverseek.com/article/bullion-bank-retreat-puts-floor-under-silver-and-gold-prices