Perth Mint story on 4 Corners Monday night GOLD DOPING

Davros10 said:
At the risk of hijacking the post, I haven't heard too many recent complaints. Have the recent releases been milkspot free?

I only caught the last 15 mins or so on Monday night. Was any mention made of their purchase of 'blood' Gold from PNG?
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i had some 2020 roos developing milky white spots and a US dealer on youtube also mentioned in his video that a large portion of his PM silver stocks have spots. he then went on commenting that Canadian Mint used to be as bad as PM but upgraded their process/technology recently and since then, milkspot is a rare thing for his maple silvers

i do recall that the news did mention PM's other troubles with PNG blood gold and AUSTRAC
 
Very sluspect story & now SGE do not agree with the ABC

https://www.globaltimes.cn/page/202303/1286897.shtml

The Shanghai Gold Exchange (SGE) said on Wednesday that media reports claiming that "Perth Mint sold diluted gold bullion to SGE" deviates from the truth, said a statement from its official WeChat account.

The Perth Mint responded on Wednesday that there is no question about the gold purity and value of the gold bars it has sold to customers in China. At all times the one-kilogram bars it produced and sold contained at least 99.99 percent gold, a fact that has never been in dispute, read the statement.
 
I'm just a simple panel beater & I'm confused easily .
So what's the crime that has been committed ?
By who ?
The question should be ,
WHO at auntie is responsible for the '"propaganda " piece .
Plenty of evidence of auntie being the political scape goat over the past 40+ years.
I think the men in black are knocking on my door :oops:
 
Looks like the LBMA is investigating now....

https://www.watoday.com.au/national...perth-mint-doping-claims-20230310-p5cr0b.html

World’s biggest gold exchange to investigate Perth Mint money laundering, ‘doping’ claims

The London Bullion Marketing Association has launched an official investigation into the Perth Mint.

Just a day after it confirmed it was seeking more information about the Perth Mint’s gold doping program that ran from 2018 to September 2021, as well as claims it wasn’t complying with anti-money laundering regulations, the world’s biggest gold exchange confirmed it had launched an “incident review process”.
 
Haven't 99% of the masses already been indoctrinated that gold is not money?

You would think the powers that be would not be wasting their time trying to hoodwink the small 1% that are awake.

Unless this is all smoke and mirrors and they are trying to divert the public's attention from some of the real pressing issues facing us such as the 15% excess deaths.

Or maybe they are anticipating a mad rush for the gold exit now that the financial system is collapsing and they wish to discourage some of the sheeple?
 
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The Perth Mint was warned last year it was potentially breaching commodities laws in nearly two dozen US states by holding gold for customers in its depositary, but failed to publicly reveal the potential multimillion-dollar scale of the issue over a quarter of a century.

But what it failed to mention was that those potential breaches dated back nearly 25 years and covered around 1,500 accounts holding USD $254 million worth of precious metals on behalf of clients.


https://www.abc.net.au/news/2023-03-14/perth-mint-model-state-commodity-code-1985-breaches/102076178
 
Well the US laws have a lot to do with us here in Oz, as we are technically only a banana plantation corporation registered in DC and no longer a sovereign country,
So Uncle Sam and IRS want to know who's got what in the down-under state;)
 
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Steveno said:
What do US state laws have to do with anything the Perth Mint does.
That would seem to be an issue between the State and the resident.

I'm sure there are numerous countries and states that are having their laws 'breached' here.
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This is the issue but not sure how US laws directly impact the mint in terms of punishments, it may be that those customers may be held accountable which indirectly would affect PM business as customers would leave.

To prevent this, the Model State Commodity Code (MSCC) was implemented in 1985 and has been adopted by 23 states in the US.

At a basic level, the states with the MSCC in place require anyone who purchases gold to receive physical delivery of that gold within 28 days, unless the seller is an "exempt person".

The Perth Mint's Depository Service has a number of platforms that allow customers around the world to purchase gold, which the mint stores in its vault on behalf of the customer.

According to the advice it received, the Perth Mint is likely not an "exempt person" and did not comply with the 28-day rule, because it stored gold indefinitely in Perth.

Of all the 'depository metal' the Perth Mint is holding on behalf of its customers, about six per cent is for clients in MSCC states in the US.
 
That still doesn't make sense.

I was actually thinking more generally, for example if a middle eastern country does not allow women to drive why would that have anything to do with any Australian activity? Even if a citizen of that country comes here and gets a drivers licence and drives here there is no crime.

It's like saying there should there be an investigation into Australians who visit Amsterdam and smoke weed.

Could this be one of those contrived problem reaction solution set ups?
 
Perth Mint is off the hook with the London Bullion Market Association. The sovereign mint will remain on the Goods Delivery List after the LBMA ended its investigation into allegations that the mint's refining standards from 2018 to 2021 did not meet specifications set by Shanghai Gold Exchange.

After a month-long investigation, the LBMA said in a statement that it "did not find any instances of zero-tolerance non-conformance with the sovereign mint."
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https://www.kitco.com/news/2023-04-...ter-month-long-gold-doping-investigation.html

No blood, no foul.
 
So Kitco are saying that the Perth Mint bars in question were 99.99% pure but the 0.01 other had too much silver in it. :confused:

Not sure what others think, but if the 0.01% was all silver I'd be happy.....Sov buyers would love for the Royal Mint to amp up the silver levels in the modern sovs to get rid of the reddish tinge they have due to lower silver level than older sovs.
 
The chair of the Perth Mint says its dealings and trade of gold actually increased following a damning ABC report, showing investors weren’t scared off.

The Mint was hurled into the spotlight in March when a Four Corners report exposed problems with the Mint’s adherence to anti-money laundering rules enforced by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

The ABC report also uncovered several instances of gold bars the Mint was trying to sell to the Shanghai Gold Exchange being knocked back because non-gold components in the bars didn’t meet the Exchange’s high purity thresholds.

That prompted a Senate inquiry, launched in July, which held a public hearing in Perth on Friday.
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More:

https://www.news.com.au/national/we...y/news-story/fbcee832962ade7938889c1592be62e6
 
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