BB, Billions of people have grown up without pms as currency. It isn't in their DNA. They will eventually learn why the Chinese and Indians don't trust paper money, but that lesson won't be learned until the major currencies fail. And since I expect the USD to be the last currency standing, it will get a temporary benefit from the others failing. I don't think GFC II will be exactly like the first GFC. I think GFC II will be far worse and that they will not be able to print their way out of the debt crisis. monopolize to answer your question. I think Kyle Bass is a brilliant investor and I think Peter Schiff is a shill/salesman. Differing opinions doesn't make one a shill. Profiting from scaring people into buying something does make one a shill. Your argument about pms prices in AUD is meaningless as the AUD has declined. You traded one losing investment for another. Rogers doesn't need to do anything, but he bought some gold last year. In prior years Rogers would say he would buy silver over gold. Lately all says about pms is that he isn't buying any, hasn't done so in a while. When he buys a lot of gold, it will be time to pay attention.
Dccpa I have said this before but I don't think these guys touting PM's are doing it to profiteer. I think they genuinely believe in what they're saying. How're PM prices in aud meaningless when we in Australia buy gold in Australian dollars? And how is it meaningless if I can now buy $1570 worth of goods and services with 1oz of gold when I could only buy $1370 worth a year ago?
BTW I have the utmost respect for Jim Rogers but he's been telling everyone to buy agri and commodities for a long time, did you pay attention to that and how would that have done with the CRB index hitting 40 year lows. And he mentions his Rogers etns and etfs, is he a shill? Disclaimer: I do not think Mr. Rogers is a shill. I own some Roger's etns.
@monopolize - it make no sense to discuss with. I have learned on own experiance that lots of these people are not be able to even look only a bit of their edge of a plate. They are too much focused on themselves and their country as they did not get teached that there are also other people on this planet called earth. Most of them have a very good university education and are also decision makers in big companies. This makes me worry a lot about their education system. If you life in australia and work in australia the 98% impotrant currency is your currency and not any other currency even if it is the world reserve currency. Maybe you can take advantage of it, but it is not essential. Think about which product you need that you have to pay in this currency. You are living in a part of the world that has all it needs. Things you do not have can be bought in asia and the middle east without using green paper or in swap against your commodities. I think a tesla, a iphone or harley is not that essential as some stock markets could make you belive. Be happy to live there and do not watch too much to FED talking and their manipulation. You need to have a long breath. In europe we have the problem that we are forced to import a good that we do not want but they do not care - WAR As you can read in my words i am pissed and did maybe start the day with the wrong leg getting out of the bed.
I have learned to be loyal to the arm that is feeding me. Talking in the public against the biggest bussiness part of my company is an absolutly nogo. Even if i had done with my company i am loyal enough to do not. Think about to where the most of the coins are going to. Only a low percantage of the PM products are staying in Au. Maybe this is the reason why it is possible to talk in public against my company. For me it is still a nogo, even if in my country hire and fire is a nogo.
If I understood well what he said in the past he has very little to do with the PM coins business and he does not necessarily think that kooks, koala, and lunars are actually worth that premium (although he cannot openly say it for obvious reasons)
There is an audit of the physical inventory & stocktake and then a separate audit of our metals balance sheet, of which one input is our physical stock assets vs liabilities. FYI, we employ a Metals Accountant whos entire job is to reconcile and balance ounce assets and liabilities.
I dig this strategy. When it doesn't make sense to buy physical buy an alternative that capitalizes on the lower prices. Makes sense to me and I don't believe there's a conspiracy to misrepresent numbers at the mint. I'm glad there's auditors that reconcile inventory. Wish we had that more in the states.
^^^ The point you make about trust is very significant. Case 1: When I was a young fellow starting out, Royal Insurance was a "trusted" brand. Circa 88? when they near went belly up (or actually did) and I lost a small amount of super with them, but another fellow I know lost shitloads, the judge lamented that he couldn't have the directors charged with fraud. Case 2: I had an agreement with my mother for purchasing the family home. Surely you can trust your mother???? Ended up no money, no house, and once the move against me started, all in a couple of weeks timeframe. Case X: I know of a lot of these ..... Trust is based upon what you know of people and businesses at a point in time based on past events. Things change constantly. Perth Mint, or a particular secure storage, or trust management firm, etc, have particular management today. Individuals move on. Occasionally make poor but honest choices. Have family or personal or health issues that suddenly makes them desperate people. Etc. Regardless, things change. Trust is something based upon circumstances that are in constant flux and depending on our own personalities, we make judgements about who we trust and with what. Holding physical suits my personality and past circumstances. But that means I have to "trust" the location where I store it. Don't put all of your eggs in the one basket!
I agree totally. Bill says "trust my own eyes more than I trust ANYTHING OR ANYONE" and then says Miles Franklin storage in Montreal is OK because he's seen it with his own eyes. Well I have seen Perth Mint's metal and processes etc with my own eyes which I why I store my metal there. However the day the Perth Mint's culture or "strategy" changes to what I don't think is right, I'll leave as my reputation in this industry is worth more than a job.
addition to this discussion http://www.goldcore.com/us/gold-blog/bullion-safe-haven-golds-near-highs-in-currencies-globally/
With all due respect....Who is BRON SUCHECKI ? Is this his REAL name ? Does he actually work for the Perth Mint ? I always assumed he maybe involved in marketing for the Perth Mint. But, for all I know he may be just the janitor or the toilet scrubber for the Perth Mint. Or is he or she just a mole for the Perth Mint, to appease the gripes of those within the forum ? Or even worse, is he or she someone pretending to be a Perth Mint employee, whilst all along it's someone just sitting at home with nothing better to do behind the computer. At times Bron comes across as a big wig when it comes to ins and outs of the Perth Mints issues on this forum. Yet, at times he says that he is not involved in manufacturing and other sectors of the Perth Mint. Often definitive problems are never resolved ( eg MILK SPOTS ), but Bron chimes in with inside info. But, when these matters need resolving, Bron is nowhere to be seen. So who is BRON ? Janitor, Mole, Marketer, Management or stay at home impostor ?
Bron is exactly who he states he is, unless I've been out drinking with a toilet scrubber in disguise for all these years. Seems like the sort of guy who pitches in with the housework though, so both could be true.
Bit more respect please. The 'due' would do. Bron is a long time member of Silver Stackers and, if you bother with Google, an insightful commentator on the Precious Metals markets in his blog.
just want to say, bron has my respect. I asked some tough questions and he responded with class and professionalism. I don't doubt his credibility and appreciate the fact that he's available on this board. One of the true reps without being an official rep. In fact, the fact that he's on here, is why I continue to buy perth products. A lot of us want an explaination and he give it to use as much as he can. No other mint I've seen does that or allows their reps to do that on a regular basis and as free as they let him be. Much resepct.
Sometime I do wonder if I'm the janitor, internet wise. You can check my legits here http://research.perthmint.com.au/about-research/ as I say there "My development into a full blown gold tragic was gradual. Over time I have accumulated the social media "identities" listed in the tables below. I put this together because I got an email once from a guy who thought someone was impersonating me because he didn't think it possible that an employee would be on a gold forum out of normal business hours arguing about some arcane point. Oh how my wife wishes that was true." My job is an analyst and writing content focusing on investing in PMs. That inevitably involves blog comments and forums but I am not an official Perth Mint PR person with responsibility for covering the whole organisation.
your comments make me ... silversearcher , what a joke on you..... BRON SUCHECKI is a respectable person; I know at the Perth Mint
[youtube]http://www.youtube.com/watch?v=YpZZHeVwFPU[/youtube] Bron's public spat with Bill is playing out.
