Jason Hommel: Silver Certificate Default

by Jason Hommel, December 9th, 2008

In my last report on the major silver frauds in the silver world, I identified 7 major silver frauds.

The World is Filled with Silver Fraud
http://silverstockreport.com/2008/fraud.html

But I neglected to mention the silver certificates that are sold by Canadian Banks. In recent reports, I have mentioned that most Canadian silver shops are sold out of silver, and also, I've reported that most of the major bullion banks in Canada have been sold out, or nearly sold out of silver and gold.

Finally, a clearly written independent report of a silver certificate default, or failure to redeem the certificate, has appeared on the web.

http://canadiansilverbug.blogspot.com/2008/12/silver-certificates-and-failure-to.html

This failure of major banks to deliver silver should be big news, but it is sorely neglected by all major media, who don't care one tiny bit about honesty and truth, and silver is even less of a concern to them.

That first report was a complaint about TD Canada Trust.

TD Canada Trust is owned by Toronto Dominion Bank, who owns TD Ameritrade. This news is almost enough to convince me to liquidate my TD Ameritrade account, or at least ask for my certificates. Maybe I will, tomorrow, but tonight, I must send out this report.

But wait! Another report came out tonight about another Canadian Bank who also could not produce silver or gold upon request! This one came from Bill Murphy at http://rs6.net/tn.jsp?e=001VyzmiQGjFe4ubjPb_xHpVEV9VQy-emSdqaO3YhH3sQcXPLR73Efd5dhQ2Hoa_G8r1V3hefcv0uQdt3nowFCrlEBBzD1LGANjV4Df4a_dKdiJgcvPVM6UrfnHCkM-EuEl I read Bill daily. (You can subscribe for a free two week subscription!)

Excerpt:

I just phoned the main branch of the Bank of Nova Scotia here in Halifax, Nova Scotia for an appointment to purchase more gold and silver maples. My contact told me there is no silver to be had at this branch. She is going to call me back in 15 minutes to advise me of their inventory of gold maples and one ounce bars.

I remember an e-mail that was sent out by GATA advising of two main branches of BNS that had gold and silver for sale (Toronto and Halifax). Perhaps that note has resulted in a run on inventory. Either way, it remains very difficult to acquire these products. At today's spot price, it's more than a bargain if you can get it.

It is my firm belief that gold and silver will explode in price and we won't have to wait very much longer. There is just too much paper currency being introduced into the market and even more being promised. As I have learned from you and GATA, there is only one way to protect one's wealth and this is it.

Sincerely,
Dana Dobbin

Meanwhile, I and another Canadian silver dealer, and Peter Spina, offer silver for immediate delivery at http://www.seekbullion.com/

Tomorrow, Wednesday evening, I auction off 5000 oz. of Engelhard bars, starting at $10/oz.

Thursday night, I've put another 5000 oz. up for auction.

My mother who is helping me out will also soon be listing 5000 oz. of freshly minted 1 ounce rounds at www.seekbullion.com, that will be shipped immediately upon the close of the auctions.

Sincerely,
Jason Hommel
www.seekbullion.com
www.silverstockreport.com
www.bibleprophesy.org