Did HSBC Just Close All Seven of Its Gold Vaults?

Only a few weeks ago, HSBC announced that it was imposing restrictions on large cash withdrawals. ‘The BBC reported how some HSBC customers were not allowed to withdrawal large amounts of cash, fueling fears of a bank run, or worse.

Zero Hedge reported: “HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: “We ask our customers about the purpose of large cash withdrawals when they are unusual… the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime.” As one customer responded: “you shouldn’t have to explain to your bank why you want that money. It’s not theirs, it’s yours.”

Now there’s more trouble. Now we’re told that HSBC is “closing” its gold vaults.

Question: Was there anything in them to begin with?’

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