Perth Mint, ASX flag new gold exchange
- Thread starter SilverDJ
- Start date
And to save you the trouble Ronnie, the integrity of the Perth Mint has already been questioned in comments to my post about this http://research.perthmint.com.au/20...laborate-with-australian-securities-exchange/
fiatphoney
New Member
SilverDJ said:
Nooooooooo!
What's next, pm corporate Eliza coffee mugs?
Why, because they have the same hole in my bucket effect on liquidity.
Did someone from the art department 'get promoted' to the 'special' department to bring this about.
Open your eyes Bron, open your eyes!
Sauce: prison mash
Derivatives are so convoluted at the best of times. Perth Mint are really entering a territory that most precious metals investors will thumb their nose at. With all this talk of unallocated metals and derivative products is the end game to remove real precious metals out of the hands of the people and just move into the world of gambling ? Derivatives are high risk territory and Perth mint will be the only winner and the investor takes all the risk. And from past experiences with the derivatives markets, it's desperate corporations who deal these cards out...
bron suchecki said:
Its no trouble at all Bron. I am fully aware of the issues and as stated will keep well away from a paper market that settles in cash and is governed by rules that get broken every day. I suggest people make up their own mind after looking through fog that these contracts generate. Sooner or later the words gold and silver will have little meaning in these trades. All I hope is that The Perth Mint as a world class fabricator of coins and bar will not be the first casualty of this scheme. I fear it already has become such.
randomname
Member
the astute investor will already pick up a contradiction within the first 2 paragraphs: "precious metal DERIVATIVES products" and "a TRANSPARENT and relevant forward price curve". yeah... how many derivatives are about to implode in the very near future because of their utter lack of transparency? anything which is a derivative of any product can (IMO) effectively be labelled a fraud in disguise - we have seen it so many times in the past and we will no doubt see it again on a huge scale in the near future.
handing over physical or digital cash and then receiving physical bullion in return sounds transparent to me. anything else sounds murky.
for perth mint to even consider such a scheme reinforces my view that they are well and truly under the control of the global financial crime syndicate. i'm glad to see the other comments too showing great skepticism of this scheme.
Never let the not-so-fine print get in the way of a good dead horse flogging.
Next we will be hearing claims that the public restrooms at the mint have depository certificates in the toilet paper dispensers.
goldpelican said:
Yes, thanks GP. The ASX contacted us that they wanted to do a future contract and have us as the PHYSICAL warehouse for deliveries. Why would you say no to that. It will bring increased trading and liquidity to the Australian gold market which will be good for the miners and also for local bullion dealers I think who can hedge their trades on a local exchange, hopefully reducing their costs.
fiatphoney
New Member
bron suchecki said:
The stench mainly, oh and reputation being reduced to a septic tank.
Not as if a merchant bank deliberately design contracts to destroy rape and pillage or anything. Not like they haven't inserted CFO's in companies to deliberately take them down with derivative products. Nor create the gold equivalent of covered bonds, pushing their way in front of bank deposits, and getting first claim on wealth.
Handshakes with the squid, yeah you'd want to publicise that to all your clients who all love bankers and sing together in a circle 'give derivatives a chance'.
Singapore and Dubai must be laughing.
randomname
Member
goldpelican said:
My role will be solely to supply the concrete. You organise the hit, transportation of the body and the burial under my concrete, WITH MY FULL KNOWLEDGE. So I'm not doing anything wrong because I'm only supplying the concrete.
randomname
Member
P.S.
yeah. how has the "increased trading" (price suppression using paper) on the CRIMEX gone for the miners? good? they are close to going under and (IMO) will probably be a take-over target from the banking cartel who deliberately suppressed price so that they can destroy them and buy them all up.
and how is trading paper going to be good for the bullion dealers? next time i need a set of brake pads for my car i will go to the ASX, not a parts retailer, and buy a paper set that doesn't really exist - i'll part with my dollars (good for australian market liquidity!) but in reality i will own nothing. and then it's entirely at the mercy of their price fixing - down down down. what a deal!
it's a fraudulent scheme designed to enrich the creators of that scheme. nothing more.
bron suchecki said:
yeah. how has the "increased trading" (price suppression using paper) on the CRIMEX gone for the miners? good? they are close to going under and (IMO) will probably be a take-over target from the banking cartel who deliberately suppressed price so that they can destroy them and buy them all up.
and how is trading paper going to be good for the bullion dealers? next time i need a set of brake pads for my car i will go to the ASX, not a parts retailer, and buy a paper set that doesn't really exist - i'll part with my dollars (good for australian market liquidity!) but in reality i will own nothing. and then it's entirely at the mercy of their price fixing - down down down. what a deal!
it's a fraudulent scheme designed to enrich the creators of that scheme. nothing more.