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The point about the "JPM owns 150moz of silver" is that if the proponents of that actually admitted that no one can know who owns a warehouse's stocks and it is just a theory of theirs, well it just doesn't sound as good. So they make out like it is a fact. Here is an alternative theory I just...

Not at all, just trying to spice it up. Would you say calling someone who said they thought it was going to rain lollypops tomorrow a moron indicates that they don't have anything worthwhile to say about the weather?

The reason they don't disclose silver or gold is because it isn't a material amount in terms of their overall operations, so nothing dodgy going on there, it is in compliance with accounting rules. Note that Scotiabank does actually report on their gold separately because it is significant part...

Most of these "JP Morgan holds physical silver" are based on how much silver is is JP Morgan's Comex warehouse, which shows what morons they are because running a vault doesn't mean you own what's in it. Current warehouses and silver stocks in millions of ounces (R = registered, E - eligible)...

Hey, if there is a joke of the day, it is gold:silver ratio going to 1:1

Likely. I remember a case once where I had a US client ring us up and he knew the account number, all account details, every transaction but he wasn't listed on the account name or as a signatory. It was some trust or done via an accountant, I can't remember exactly but the story he told us was...

FYI, that orange light I've circled comes on when the automatic bar machine is running and it says "Now Baking" As Homer would say, Mmmmm gold bar baking

I could do the presentation I gave at the Uni of Western Australia crypto conference a few months ago on why cryptocurrencies are unlikely to usurp gold's role and why neither gold or cryptos make better money than debt backed bank created money. Controversial and juicy enough topic? Would take...

Thanks mate. Apologies for the sound, the room is echo-y and there was a background machine hum we had to remove. FYI that is A$4 million worth of gold behind Jim.

To my knowledge there is nothing special about AML/CTF laws that police don't have to follow normal processes, the point of the law is to make sure there are records about ID and transactions that can be investigated if needed. Bullion dealers do not have to be licensed.

AUSTRAC rules just require the dealer to obtain ID and have records, none of the transactions are reported. Only if the dealer has reason to believe that the transaction is money laundering/terrorism financing do they have to file a suspicious transaction report, otherwise the dealer just keeps...

Looks like many were cornering Jim to get their books signed. Trust everyone enjoyed the night.

If you are trading gold for silver or vice versa that is a taxable event, no different if you sold BHP shares and bought some Evolution shares in exchange. As to swapping one form/size for another but of the same metal, I'm not sure of the treatment. I know some investors have had advice that...

Any responsible dealer who wants to stay in business will protect themselves against price moves so will buy and sell at any price.

Strawman, just note there are three different types of GST: GST Free - 0% rate, business can claim input tax credits for GST paid on supplies Input Taxed - 0% rate, business CANNOT claim input tax credits for GST paid on supplies Taxed - 10% rate, business can claim input tax credits for GST...

FYI you can email [email protected] to be put on a waiting list if we get any cancellations.

We have now sold out.

FYI Joshua from About.Ag website has started a page on this case http://about.ag/PerthBullion.htm He is US based and has covered in great investigative detail the various US bullion dealer bankruptcies.

In Australia it is called Part IV of the Banking Act 1959 https://goldchat.blogspot.com/2008/11/australian-gold-confiscation.html

Note that the Personal Property Securities Act 2009 specifically exempts goods held on bailment from being seized by liquidators.