> I notice the agreement with JP Morgan / Chase (wow, talk about > class), now allows third-parties to bail gold into the system: That is what it sounds like and I am sure that is the impression it is intended to give. > JPMorgan Chase Bank also can receive Precious Metal from any other > party for deposit into an Allocated Account, in accordance with > procedures and restrictions agreed between JPMorgan Chase Bank, and > e-gold and CEAL. However, that is NOT really what it says. It says the bank CAN accept bailment "in accordance with proceedures and restictions". This includes the possibility that such bailment is actually prohibited by those agreed "procedures and restrictions". This is an entirely unreasonable interpretation except for the fact that that is *exactly* what the similar agreement with Scotiabank turned out to mean. So I think it is likely that bailment is still not accepted. And, on the basis of past experience: (1) this should be the presumption until it is proved otherwise and (2) it will be like pulling teeth to get any straight answer on this question out of G&SR. Unfortunately Clinton-like parsing is necessary when dealing with G&SR. CCS --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
