[MwhwF6bp]

http://mobile.bloomberg.com/news/201...r-bars-1-.html





An HSBC Holdings Plc (HSBA) unit sued the MF Global Inc. brokerage trustee to establish whether he or another person is the rightful owner of gold bars worth about $850,000 and silver bars underlying contracts between the brokerage and a client.



Five gold bars and 15 silver bars underlie eight Comex contracts between the brokerage and its client Jason Fane of Ithaca, New York, the unit of London-based HSBC said in a court filing yesterday. Both parties have asserted claims to the bars, creating difficulties for HSBC, which is storing them, the bank said. HSBC asked a judge to decide who the rightful owner is.


Bullion is selling for about $1,717 an ounce on the Comex in New York , up about 21 percent this year, as investors bought the metal to protect their wealth from Europe ’s escalating debt crisis, and reached a record $1,923.70 in September. Treasuries returned 9.3 percent, a Bank of America Corp. index shows.


These bars are mine,” Fane said in an e-mail today. “We had a letter from HSBC that they were on the loading dock to be shipped to our warehouse contractor when there was some action taken by a third party to stop or delay shipment.

[artenotreah]

This isn't over digtal or paper ownership.

This is over the physical asset.....the real deal.

watch this one closely

[bromgeksan]

yes it's to see who has the superior interest. There are no claims there, only interests so the "claimaint's" a bit off base but it's a common mistake. He feels he has a superior interest and he thinks that translates to ownership. Will be interesting to see the outcome.

[Peretool]

i wonder what effect this has on the gold & silver producers' willingness to use Crimex & the CME & LBMA as their marketplaces.

if i was the CEO of a quality producer, i'd be calling up APMEx and saying, "want to buy some silver directly, and cut out the middlemen ?"

if i was the CEO of APMex, i'd be calling up the miners and saying, "we want to buy some silver, and cut out the middlemen."


who on Earth needs the services of banksters like MF Global, CME ... who it appears have a strong probabilistic tendency to be Jewish.

[Vomazoono]

you know i think some of these banksters' blood pressures might be going up.

"hey man, we have to do something !" - how does that translate in bankster-ese ?

[Alice_Medichi34]

you know i think some of these banksters' blood pressures might be going up.

"hey man, we have to do something !" - how does that translate in bankster-ese ?

"Charge", with the sound of bugles in the background!