Elemetal's busto?

[Stoic Phoenix]

Surprised this has flown under the radar...I only heard about it today and took 20 minutes of google searches to even find an article.

Comex suspends their registration.
Scotia Bank has recalled its entire line of credit extended to Elemetal?

http://www.silverdoctors.com/gold/g...lemetal-gold-silver-in-wake-of-federal-probe/

 

[dragafem]

Im sorry but we only have concerns about the new swan coin and make sure they stay pretty

 

[Ipv6Ready]

Isn't this because they were buying and minting 90 tons of gold and not declaring that it was smuggled from illegal miners poisoning the rain forest.

 

[bron.suchecki]

I asked AboutAg to have a look at it, he is really good with investigating these sorts of cases http://about.ag/Elemetal/

 

[Ipv6Ready]

few months back I wouldn't have believed that a lone smuggler could move many tons of gold, but when you read how much gold can circulate right here in Australia to generate billions in gst, well why not.

Plenty of mothballed mines or gold fields around the world which is too small or risky for the majors ie Newcrest couldn't operate open pit mercury process in the amazon but doing that would be worth a mint to small timers in third world countries.

 

[goldpelican]

Continuation of the events that started with http://www.silverstackers.com/forum...-become-an-international-gold-smuggler.83529/

As I understand it, the problem is related to the refinery business and an NTR branded subsidiary. I haven't heard that Elemetal Direct or Provident are implicated in anything.

 

[Coins A-Z]

It looks like its lights out for Elemetal....at least for the short term.....

 

[Ipv6Ready]

It looks like its lights out for Elemetal....at least for the short term.....

What's your vision of gold currency?
Is it it like medieval times when every one carries phyical gold, would poeple carry gold for coffee ️ and no more electronic payment ie if I buy a something from amazon, I need to courier a gold bar to amazon before they send the goods, therefore adding days or week to get the purchase?

Or is it a gold backed economy where like US it was promise of gold exchange?

 

[bron.suchecki]

http://about.ag/Elemetal/ has just confirmed that "the metal purchased by Elemetal Vault customers is located in a Brinks vault in a different state. They also clarified that their client's metal is not (and can not be) subject to any lien"

 

[JOHNLGALT]

It looks like Goldstackers is still holding out hope of having something to advertise on the website later on.

http://www.goldstackers.com.au/store/brands/elemetal-mint.html

 

[SilverDJ]

It looks like its lights out for Elemetal....at least for the short term.....

Yep, that's death spiral corporate speak if I ever heard it.