Morgan Stanley's Failure To Segregate Client Assets Creates Default Risk... here we go again

The Morgan Stanley company has done this, boldly going where no honorable men would choose to go. It is now offering to sell you gold, silver and platinum bars, and to keep them "safe", but in a scheme in which they refuse to segregate client assets that they falsely label "allocated" ownership.

Customers who take them up on the offer are going to be cheated. They will not be purchasing metal in allocated storage. Instead, they will actually be purchasing an unsecured bond with repayment promised in the form of gold, silver or platinum. They will be investing money, not to purchase real metal, but, rather, to fund the operations of a fractional banking scheme involving precious metals.

[link to seekingalpha.com]