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Sweden’s Largest Gold and Silver Dealer’s Bank Accounts Closed, Shut Out of Banking System!

by The Doc, Silver Doctors:

With European capital scrambling into gold following BREXIT, the cartel just played their hand.

The plan this time is NOT door-to-door confiscation, but simply to SHUT DOWN the best gold and silver dealers the moment the public begins to wake up…

The cartel have tipped their hand. The plan is not to come after your gold and silver coins, it is to shut down the gold and silver dealers themselves, and prevent access of safe haven capital flows from reaching the safety of gold and silver bullion.

Case in point? Sweden’s largest gold and silver dealer Tavex Guld & Valuta, whose bank accounts were suddenly closed Thursday without notice by Swedish bank SEB due to ‘a general business decision’.

Notice posted on Tavex Guld & Valuta’s website that as of 15:30 on June 30th 2016, they can no longer accept bank deposits or transfers as SEB has shut down their accounts without notice, leaving the PM firm scrambling to set up alternate payment systems.

Warning of change in Tavex AB’s payment

Best customer,

We hereby announce that as of 15:30, Thursday, June 30, 2016, we can no longer accept bank transfers or bank deposits for gold and silver to our Swedish SEB account.

The reason for this is that SEB – at very short notice – informed us that they will close down our bank account. This decision has, unfortunately, been made without first consulting us, and in addition to state in its notification letter that the decision to close our account due to “a general business decisions,” they have not yet given us any concrete reason why they decided to take this measure .

The banking system in Sweden is operated however vigorously towards a cashless society, as you probably are aware of, and Tavex has, as one of the largest wholesale suppliers of physical notes and investment metals in Sweden, as we see it become a target for the major commercial banks.

With that said, we are working frantically to set up a new payment system that we believe will be operational in two to three weeks.

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4 comments to Sweden’s Largest Gold and Silver Dealer’s Bank Accounts Closed, Shut Out of Banking System!

  • wauhoo

    The same will happen here citing “National Security”.

  • Craig Escaped Detroit

    Not just the PM dealers, but I would not be shocked if they also shut down all the banking system for Guns & ammo dealers too.

    It’s time for all those guys (and you and me too) to begin switching into alternatives, such as the CHINESE system that is coming on line pretty soon (and “UnionPay” is the Chinese version of Visa-MasterCard and UnionPay is BIGGER than BOTH of those.)

    Of course, there is BTC (still quite young, new and may even be BUGGY or flawed), but at least it SEEMS to be 100% OUT of the hands of the banking system. Time will tell.

    If the “money masters” shut down all payment systems between the MANUFACTURERS and the dealers, then it’s gonna shut everything down REALLY fast.

    I don’t imagine the dealers will be sending a lot of couriers or Brinks Trucks with Cash to the factories for payments, but it’s possible, and then the Brinks trucks could deliver the products to the dealerships (because I imagine that the government might decide to shut down all the UPS & FEDEX shippments too.)

    Of course, under martial law, the gov’t will just make all guns and ammo illegal, and that’s the end of it.

    Brass cased ammo is easy to reload, but hard to manufacture from scratch. In that case, buying from the black market (military people who need silver or food, booze, etc) will be the main supplier.

    I don’t think it will get all THAT crazy, but it certainly will be bad if we fall into a Venezuela situation. Most people, not even all the SGT people are not fully ready for living life “Caracas style”.

    Caracas is almost as bad as Zimbabwe style. Best to be OVER prepared instead of UNDER prepared.

  • d

    gold and silver is to have for the aftermath of the chaos….not to spend before or during…hopefully you and it can make it to the other side…of conflict together….imho

  • omniversling

    This move is drastic if indeed it’s the first springing of the trap, and not a simply a transactional process between the bank and the dealership that we’re not being told details of.

    So much can be declared ‘illegal’ by TPTSB (including transacting in, storage of, exchanging for PMs), and then enforced with violence by Policy Enforcers (previously known as Peace or Police Officers). The owners of the system that forces us to use a monopoly fiat medium of exchange have us by the short and curlies. The ‘civil’ mask is coming off now, and the ugly criminal side of the consolidating system is being wheeled out into the open for us all to experience first hand. Cyprussing, and Greece vs Troika were the warm ups. Bail-in legislation is in place also, so there’ll be nowhere to retreat to (good luck with cryptos when EVERY device and computer is monitored and recorded..like now already).

    Whilst there is still an illusion of ‘price discovery’, rigged as it is, there is also still the illusion of a market that is broader than that which is ‘how far do I need to travel to buy or sell in person, to/from another party’. The downside of holding and trading physical is the transport. If my postal service or fuel supply was interrupted (credit collapse, weather, grid etc), my pool of buyers and sellers would be severely restricted since I moved to a rural area to get ready for the endgame.

    A worldwide ‘spot price’ that could not be matched with secure delivery or collection, would be meaningless. I have no idea if there’d be a market pool here that could even establish a trade, meaning ‘what would my metal be really worth?’

    Any metal that I may own or want to buy here in Australia, is priced in the AUD equivalent of USD, so the crushed US price since 2012 has been reasonably well matched by the devaluation of the Aussie against the $US over the past year. When the SHTF however, anything could happen, and only thing that’s predictable is unpredictability.

    What I’m sure of however, is that the weight and molecular structure of any PMs that I may hold, is unlikely to change…even if the reset takes years. Whilst the value will never go to zero, something is ‘only worth what someone else will pay for it’. What happens though, if the crooks who pass legislation and statue declare it, and it’s trade, ‘illegal’? Or only permitted between ‘authorised institutions’?

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