by Craig Hemke
The announcement last week that the Bank of Nova Scotia is exiting the precious metals business is just another curious development in the dark, secret world of international bullion banking.
Over the past two months, much has been written about the current stresses in the Bullion Bank Fractional Reserve and Digital Derivative Pricing Scheme. Though the decision by Scotiabank to exit this business was made months ago, the timing of the announcement is certainly interesting. Why? Let’s start with a collection of links to review: