|Tried, Trusted & Reliable?|
It seems that the scandalous financial world has claimed another casualty: the London Gold Exchange. An announcement was made on their website claiming “Due to operational difficulties the London Gold Exchange is permanently closed for business.”
According to Wikipedia:
The London Gold Exchange was owned by LGE International LTD., an offshore company registered in Belize, with offices in London, England and Hong Kong… London Gold Exchange operated 2 franchises, one in the UK and one ‘International’ which covered everywhere other than the UK. The UK administration office was in Central London, with staff based in locations around the UK. The International administration office was in Hong Kong, with staff also operating from mainland China. Technical staff also operated from locations in Australia.
No further explanation was given for the “operational difficulties,” nor has there been any indication as to if and how their 100,000 members will be affected.
Could this be a sign of things to come? In related news, France bans cash sales of gold and silver over $600.
Hat tip to Mike Wüst from michels.tv for the news.