Just so it's clear, Euro Pacific Bank transferred cash, precious metals, and mutual funds to Qenta under a Purchase and Assumption Agreement (“PAA”). Customers who “opted in” were promised as a condition precedent to gain their consent, that these assets would be allocated to individual accounts at Qenta, under their control, with immediate access. That never occurred. Qenta never opened accounts, never onboarded customers, and never provided access to their assets. Furthermore, under the PAA, no Initial Closing could occur unless all regulatory approvals were obtained and customer liabilities assumed. Qenta has admitted those conditions were never met. Therefore, Qenta never gained title to the︀ assets, which remain property of Euro Pacific Bank and should still be under the Receiver’s︁ protection.
Euro Pacific bank is a scam
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more reason for the receiver to demand Qenta hand over all assets to them to do a proper reconciliation
There is no justification. I have been informed that Brent may argue that the assets were transferred to Qetna as investment assets that Qenta had discretion over. That Euro Pacific Bank was not really a bank at all, but an investment company. If Brent makes this BS argument it will have zero chance of success. But even if a judge bougth that BS argument, Qetna still did not︀ have the right to use those assets to fund its own corporate activites or investments,︁ or cover what may have amounted to his own personal expenses.
TO PETER SCHIFF AND MODERATOR(S):
This thread is getting more and more difficult to read. Most of recent posts are redundant, I recall having read dozens of times the same info provided by Mr Schiff.
Peter, you're doing a great job but please avoid answering the same questions all the time, that's not useful at all. IMHO, you'd better give info when you have important news, no need to keep repeating the same story again and again.
This thread has already 218 pages and it's getting too huge. Lazy people is not willing to read it from the beginning and therefore they keep asking the︀ same things which have already been explained so many times.
This thread is getting more and more difficult to read. Most of recent posts are redundant, I recall having read dozens of times the same info provided by Mr Schiff.
Peter, you're doing a great job but please avoid answering the same questions all the time, that's not useful at all. IMHO, you'd better give info when you have important news, no need to keep repeating the same story again and again.
This thread has already 218 pages and it's getting too huge. Lazy people is not willing to read it from the beginning and therefore they keep asking the︀ same things which have already been explained so many times.
I don't think he has. If you had read the updates, you would know that lots of new obstacles appear all the time to block this process from moving forward and so the question is relevant.
Also new people find their way to this blog to get updated hence some questions appear more than once.
Also new people find their way to this blog to get updated hence some questions appear more than once.
He has indeed, just read the last 40-50 pages. Peter has explained dozens of times why the receiver could have already returned the money to opt-out customers and there are no new obstacles about this. I've been reading this thread from the beginning, what about you?
Before making a question, new people should read older posts first. But of course it's much more fun spending hours on Facebook or Instagram instead of reading some pages here.
Before making a question, new people should read older posts first. But of course it's much more fun spending hours on Facebook or Instagram instead of reading some pages here.
August 4th was the last day you could send your documents to file your claim... thats one big obstacle. or du you think the︀ receiver would pay you without filing a claim? if Qenta have part of opt-outs money︁ could be another big obstacle to not make the payments. reconciling the accounts could be︂ another obstacle ... these are all recent events possibly stopping the receiver making payments. Peter︃ repeating that the receiver could have made the payments years ago is possibly true but︄ thats old news and not relevant now. What I care about is what is stopping︅ the process now.... hence my question.
What recent relevant news do you have about opt-out customers?? Filing a claim is a 4-months old news, no further obstacles have raised since then. You keep mixing opt-ins and opt-outs, but they're completely different stories. Apart from filing a class action lawsuit for opt-ins, Peter's considerations are based on hypothesis, not certainties. And people are publishing dozens of posts on MAYBE, IF, COULD BE and whatever. In other words, pure balloon juice.
opt in and opt outs are mixed up as it is not clear if Qenta has some opt out cash and the receiver has some opt in︀ cash. It seems that they do
You can bet the Receiver has only considered the big numbers when wiring the funds to Qenta ; he has never taken intro account that he cannot mix funds of all customers in a big pool as each amount is the property of a specific customer with a dedicated bank account.
I am pretty sure there is a high possibility he will tell us that all funds of novo banco are exclusively opt-outs funds and all opt-in funds were transferred to Qenta as the funds of everyone were wrongly mixed up for the operational ease it provided (no reconciliation needed ; easy peasy, why bother︀ ?). Future will tell.
I am pretty sure there is a high possibility he will tell us that all funds of novo banco are exclusively opt-outs funds and all opt-in funds were transferred to Qenta as the funds of everyone were wrongly mixed up for the operational ease it provided (no reconciliation needed ; easy peasy, why bother︀ ?). Future will tell.
Hi, in my case, in #7 I wrote the amount of cash I had and add "plus ---.-- oz of physical silver". In #8, I wrote "Deposited Funds and Silver Bought and Stored". I don´t know if that was right or wrong, I just share with you how I filled it. All the best!︀
No funds were transferred to︁ Qenta. Qetna was transferred ownerhip of Euro Pacific Securities, which was a subsidiary of the︂ bank. Within EPS was an IB account that contained $19 million dollars in cash. Mark︃ Anderson moved the dollars their after the bank lost its Fed account and any corresponent︄ relationship that could handel U.S. dollars. The Receiver and Qenta were supposed to reconcile the︅ cash, but they never did.
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