The man is rich. He wanted delivery of his gold. The bank refused. It said it was not authorized to give him more than 200,000 euros worth of gold. It said it would deposit euros in his account.
The gold was in a segregated account in his name. So sorry.
He had been promised delivery on demand. So sorry.
He had never been told be could not get his gold. So sorry.
This is a violation of contract. So sorry.
He wants gold, not euros. So sorry.
This means that a Swiss bank’s promises are not worth the digits they are written on.
Whose promises are worth the digits they are written on?