You can't read? I know you want to believe your stacker fantasy that all pool allocated metal is just magical paper, but you are demonstrably wrong. Show evidence that 90% of the Perth Mints unallocated metal does not exist. Bron says it does, the Perth Mint says it does, and it's audited. Follow the links I posted and actually read: https://www.perthmint.com/storage/help/faq.html#can-i-audit-my-precious-metal Follow Bron's link and actually read it.
The irony is that if it wasn't for people like Ronnie 666 stacking the Perth Mint wouldn't have the need for the physical working inventory to make the coins that backs the unallocated, so there wouldn't be any low spread/zero fabrication storage product for investors to buy. So maybe we should encourage a bit more paranoia.
You don't have to encourage it, there is already whole world of Kook's out there feeding off each other (pun intended)
Yes precisely Bron you could adopt your full Jon Nadler approach and just sell widgits. Yes no need for pesky fabrication just sell the promise....we believe you. Paranoia you make me laugh...I have seen enough of promises by corporations and governments to know who you look after.
A working inventory of milk spotted crap. Maybe you guys should stick to paper silver cos you sure can't manufacture coins that aren't milk-spot affected. And like I said in my post above regarding the Perth Guarantee...You can't guarantee folk will get their metal. The Perth Mint operates under a Government Guarantee, which is enshrined in Section 22 of the Gold Corporation Act 1987. Clause 22(1) of the Act explicitly states that "The payment of the cash equivalent of gold due, payable and deliverable by Gold Corporation, the Mint or GoldCorp under this Act and all moneys due and payable by Gold Corporation ... is guaranteed by the Treasurer, in the name and on behalf of the Crown in right of the State." https://www.perthmint.com/storage/help/faq-government-guarantee.html
Oh FFS, it's a list of actual bars with serial numbers that are physically held by the mint to back up the bloody pool account! A total of 6,126,432oz ($120M worth) What part of that do you not understand? They even have a stock of separate bars to backup the new online depository program: https://www.perthmint.com/storage/verification-vault-download.pdf?product=P2 Another 109,974oz ($2.1M worth) Now you have made the claim that it's all bullshit, and that by extension Perth Mint are lying and they do not have the metal to back up their pool and unallocated accounts, yet you refuse to provide any evidence at all to back that up. Go on, show us your evidence and prove you are right. Because right now you are looking like a spectacular fool.
The only person looking like a fool is you for your blind acceptance of a page of numbers published by the PM as proof that they have the silver, that they have title and it's not sold or leased to other parties. Clearly you have no concept of title and publishing pages of numbers is a very long way from ownership with clear title. Perhaps you need to study history beginning with the trials and tribulations of Charles Ponzzi. It is like your house with a mortgage. Do you own it yes you say - no the bank hold the title. Got it? You seem very uptight, perhaps tense. Worried about your paper investments. So should you be. By the way profanity is not becoming of a salient argument.
Perhaps you need to learn to read financial reports like Bron posted were you can find this information that goes along with the holdings list. http://research.perthmint.com.au/2015/11/14/interpreting-the-perth-mints-financial-results/ and from: https://www.perthmint.com/storage/h...ted-be-100-backed-yet-there-is-no-storage-fee But hey, even the Perth Mint are kind enough to say in SHTF scenario (Like Chian invade WA or something), physically own your own metal:
That staged SHTF approach text I wrote probably ten or more years ago because people seem to think that one day we will wake up and it will be Mad Max when in reality the warning signs will be there for anyone who is paying attention. In the meantime you save yourself a lot of money.
Hi Bron, I don't know maybe not looking at the correct graphs - if Perth Mint spent $12 million on Property/Plant & Equipment in 2014 and then spent another $23 million on Property/Plant & Equipment in 2015, have sales increased over the last months , how come Perth Mint cant keep up with demand on certain products.
Is Cypres or Greece -Mad Max ? Default takes on many faces and the PM and state government can default on loans and promises without a Mad Max scenario. Bron I do not know what you are talking about ? I am talking about a bankrupt state supporting a paper trade. I have no idea where Mad Max entered. Over 90% of the Perth inventory is owned by investors (not the PM), so when things get tight as they are now, what are they going to sell ? "Paper" that is the route forward the new plan to keep the mint cashed up. It is the Jon Nadler solution. As far as DJ is concerned - you got me. Your case is rock solid and with that list of bars your investment is a rock. This is level 1 evidence. Good night everyone sleep well on your paper promises.
And you qualified it by saying if you want your metal in a hurry. But ironically for the hard core SHTF stackers, physical metal is next to useless in a SHTF scenario anyway. You can't buy food and supplies with it. And in the SHTF scenario, no dealer is going to give you cash for it because they'll want the cash for themselves. Classic choice supportive bias is all too common among stackers https://en.wikipedia.org/wiki/Choice-supportive_bias
If one needed food and supplies then one would trade it direct rather than converting it into a currency through a dealer. I believe that gold and silver would be the choice medium of exchange just as countries will accept gold for goods in times of war over the output of a printing press. BTY I appreciate the points of view of all have contributed here.
The only person who is going to understand and trust gold and silver trading for goods and services is another stacker. Good luck finding one in a SHTF scenario to get your groceries and petrol. No one else will take gold or silver, you can pretty much guarantee that.
