WILL THE WESTERN AUSTRALIAN GOVERNMENT BECOME THE BEAST ?

Sorry, should have made it more obvious i was being sarcastic. It was an attempt to highlight the short-sightedness of goats and the populace in general.

 

This is not good news for many families. News coming through about overseas silver mining not profitable either...If there is no need for commodities because of a glut or no demand things will get worse.

 

There are two types of people in the world, those who save for a rainy day and those who live for today. I find it had to feel sorry for the latter http://goldchat.blogspot.com.au/2011/11/squirrel-and-grasshopper.html

 

First of all let's get things straight. When certain banks / mints use the word " Government Guaranteed " it not backed or bailed out by The Government. It's the people / taxpayer that foots the bill. That's why very few banks / corporations over the years are backed by the taxpayer. Nothing pisses off a taxpayer more than having to bail out a organisation that cannot make a profit. And boy oh boy, Governments hate lending money out also. Just ask SPC and Clive Palmer. So it's imperative that Bron and Co have to make a profit. With current circumstances the WA public would frown on giving them a leg up. And why should they ? So 21,000 clients are spared for the millions. As long the Perth Mint can make a profit all should be good, unless their is a public out cry over essential utilities being sold off while non essentials like Perth Mint are spared from the sword.

As for customers with unallocated precious metals if they are not backed by " THE PEOPLE ", then its the usual scenario when a company goes insolvent. It falls into administration by the likes of people like me apparently . Upper level management blame lower level management and find a scapegoat. Then they piss off with golden handshake. Meanwhile, investors get a small return back as a percentage. A year after that when the dust has settled nobody will give a rats except those who lost money.