In this report, I cover the early market action from London on Thursday, May 30th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I talk about my personal experiences with one of the so-called Too-Big-to-fail banks and how it has shaped my views about the banking system in general.
I particularly look at Citibank and my dealing with that bank and how it refused to deliver physical gold for an account I dealt for back in around 2002/2003. The major lesson I took from this incident is that the so-called Bullion Banks are a sham and don't actually deal real physical gold.
My conclusion is that leopards don't change their spots and that one should be very careful if they are going to deal with one of the big banks. The best course of action, of course, is to try to avoid dealing with them at any cost.
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