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On The Trail Of Dubai’s Stolen Gold: A Robbed Client Breaks The Silence, And A Fascinating Detail Em


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Posted January 3rd, 2016 at 4:29 AM (CST) by Jim Sinclair & filed under In The News.

Jim Sinclair’s Commentary

The greatest scandal in gold is yet to come and it is not the Comex on paper but at your trusted place of storage. Read your customer papers and read the entire prospectus for GLD. Where exactly did you say your physical is? Are you in for a surprise?

On The Trail Of Dubai’s Stolen Gold: A Robbed Client Breaks The Silence, And A Fascinating Detail Emerges
Tyler Durden on 01/01/2016 18:43 -0500

On Christmas Day, 2015, we told our readers the fascinating tale about the Turkish-Iranian gold smuggling ring – perhaps the biggest and most brazen in history, one which lasted for years, which saw billions in gold transported out of Turkey and into Iran to allow Tehran to circumvent the western financial sanctions using gold as a medium for bater, and which was all made possible thanks to the tiny Emirate of Dubai.

What made this particular instance of gold smuggling especially memorable is that it reached to the very political top in both Turkey, and Iran, and Dubai.

However, while the broad framework of Turkey’s exporting of gold to Iran, initially directly and then via Dubai, had been already in the public domain, Zero Hedge first revealed the man, or rather people, who made it all possible: the Dubai gold “trading” company of Gold.A.E. – is a subsidiary of Gold Holdings Ltd, a company which is owned by SBK Business Holdings and Abu Dhabi’s second in command, the son and avisor to the ruler of Abu Dhabi, Sheik Sultan bin khalifah Al Nahyan.

The reason why Gold.A.E. suddenly, and very dramatically, emerged on the global arena is because as we first reported a week ago, the company’s “new” management team admitted that after many months of “inquiries”, it had discovered that not only had the “old” management, led by the now former CEO of Gold A.E., Mohammad Abu Alhaj disappeared, but that all the money – and gold – held at Gold.A.E. which once again was primarily a “trading” front for the Turkish-Dubai-Iran gold smuggling triangle, had been stolen.

Here, for those who missed it the first time, is the letter that Gold.A.E.’s stunned clients received in late December: