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Hey Vale, has this brutal silver market taken Tulving out? - Page 2
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Thread: Hey Vale, has this brutal silver market taken Tulving out?

  1. #11
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    Here is some new information about Tulving and co.

    There is now a sign on Tulving's door, The Tulving Company has closed - more in formation the week of March 10th

    Tulving Post-Mortem, a very interesting read on how a company so trusted in the business went down hill and how much or potentially how much he has taken with him: http://about.ag/TulvingPostMortem.htm

    One thing they do not mention in the above article is how low Tulving's inventory actually declined last year. I can tell you from following his web site on a daily basis that during the early part of last year, his stock of Silver products sank to the lowest levels I've ever seen them and stayed that way for several months. I thought it was due to the shortage of Silver that all dealers were having trouble getting their hands on. His variety did pick up later in 2013, but it never reached the level it was at before. Now it sounds like it never should have picked up at all!!

    The speculation is that Tulving did the unthinkable and hedged the Commodities market and did what most people do at a casino, lost his a$$.

    Only time will tell how bad this situation really is and I hope for everyone involved that the writer of this article is off by a few hundred million Dollars, but it's not looking good.

    Is it possible that Tulving didn't lose a couple hundred million of his investors money and only lost the value of all his remaining assets and decided to call it quits because he can't afford to eat any additional losses. Maybe, could happen and like everyone else we'll all find out sooner or later. The best of luck to everyone still waiting for their metal or cash.

    The lawsuit http://about.ag/14-1054.pdf

    This is a long read and most of it is just repeated over and over again for legal purposes, but still interesting to some degree and it does seem to put the final nail in Tulving's coffin. But who knows, maybe Tulving will come out of the ashes alive without handcuffs and everyone will get their metal.

    It will be interesting to see if Tulving has a different spin of things come next week as his sign says.

    He still has his web site up for whatever reason. I can't help but think the free advertisement he's getting from all this will kill his business if nothing else does, but stranger things have happened.
    Last edited by valerb; 8th March 2014 at 07:10.
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  2. #12
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    I still think if these people aren't refunded thier money , he should have his home and everything he owns taken away and sold. That money should of been in escrow until he received the product , if he was playing some money game , then he lost, it should be him whos out of luck, not the buyers. After reading this, I couldn't imagine sending any serious amount of cash to anyone who could just say oops bankruptcy , then walk away.

  3. #13
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    Quote Originally Posted by Robert FGoens View Post
    I still think if these people aren't refunded thier money , he should have his home and everything he owns taken away and sold. That money should of been in escrow until he received the product , if he was playing some money game , then he lost, it should be him whos out of luck, not the buyers. After reading this, I couldn't imagine sending any serious amount of cash to anyone who could just say oops bankruptcy , then walk away.

    Your in luck, Gainesville is only a $12 trip away for you.

    If the person writing all this stuff is correct and Tulving has far exceeded the asset value of his inventory, then I think fraud might come into play. If that's the case, he might get to meet Bernie as a best case scenario.

    That's what fraud laws are for, so people can't just take your money and say sorry any way they want and get away with it. Yes it's done all the time, but there are limits to what you can get a way with. With a simple bankruptcy, he would be able to walk away with his house and other personal property, as it wouldn't be a personal bankruptcy. But if he was prosecuted for fraud, then that's a different matter and with a fortune to account for, I believe his personal stuff is then up for grabs. If it's really in the millions of Dollars that will be lost, then his testicles should be removed and sold at a special auction for only those involved. I just wonder if he ripped off enough that being sentenced to a federal pen would qualify him for a country club stay? That's assuming the federal government decides to take the case.

    I'll bet your right and the LCS's are going to be making some extra cash as a result of this fiasco, because of so many nervous investors.

    According to this guys time line and theory, Tulving had already lost everything many months ago and has been playing with everyone's money for a very long time. You gotta love speculation and where it can take you with something like this.
    Last edited by valerb; 8th March 2014 at 11:20.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  4. #14
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    Silver and gold, ammo - all the same really. Walk in, slap cash on the counter and walk out with the merchandise with no paper trail created.

    I've wondered about the cash flows of online and storefront gold and silver dealers. As a marina manager, I've been in the business of trying to keep the big fuel tanks full or nearly so, for the fuel docks. It's a floating gas station, with the same needs: buy as cheaply as possible and sell for the best price without pissing off the customers. You might buy 5,000 gallons of gasoline today, but if the price goes down tomorrow, you are expected to lower your pump prices to the customers by a competitive amount. But if prices go up tomorrow, that 5,000 gallons is now more like an investment that's showing you a profit. Same dynamics would apply to these guys at precious metals shops. Only much quicker and splitting hairs down to the penny.
    "If you don't know where you're going, you might end up some place else."
    - Yogi Berra

  5. #15
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    Quote Originally Posted by Xizang View Post
    Silver and gold, ammo - all the same really. Walk in, slap cash on the counter and walk out with the merchandise with no paper trail created.

    I've wondered about the cash flows of online and storefront gold and silver dealers. As a marina manager, I've been in the business of trying to keep the big fuel tanks full or nearly so, for the fuel docks. It's a floating gas station, with the same needs: buy as cheaply as possible and sell for the best price without pissing off the customers. You might buy 5,000 gallons of gasoline today, but if the price goes down tomorrow, you are expected to lower your pump prices to the customers by a competitive amount. But if prices go up tomorrow, that 5,000 gallons is now more like an investment that's showing you a profit. Same dynamics would apply to these guys at precious metals shops. Only much quicker and splitting hairs down to the penny.
    I agree with the cash purchase at the LCS as long as it's under $10,000. I don't know who would report what if I was to walk into a sporting goods store and buy $9,500 worth of ammo. It might draw some attention as to what I wanted with so much or at least that seems to be a lot to me.

    Your in a much different business even if it involves a commodity. The online dealer especially has the advantage of replacing his sales the same time or same day, where the small time dealers with small sales doesn't have that same luxury. Which must be very similar with your operation. No matter how much business you do, unless you are filling up that tank on a daily basis, your prices are changing from top off to top off. Of course you are not held to selling your gas at a listed spot price which is changing 24 hours a day either. Dealers like Tulving have the ability to sell thousands of ounces per hour and still not lose any money with rising and declining spot prices as he can put in replacement orders at the same buy price he just sold at. So it doesn't really matter to the big boy's if the price rises or falls as long as they keep replacing their inventory at the going rate they sold it at. The end game is to keep the same amount of inventory no matter what it's net value, as they sell Silver by the ounce at a given premium per ounce, not it's spot value. So a dealers net value may go up and down just like ours does, but as long as he keeps his same inventory level, it doesn't matter. He's in business to sell quantities of Silver not Dollar values of Silver. If you could set a fixed premium per gallon and replace your gas at the same sell price, you would never have to worry about losing any money either. It's gambling on when to buy that gets these guys into trouble, but most won't do that or they wouldn't stay in business. Whatever Tulving did in the past couple years is different than he did the twenty years before. One thing for sure, you can't out smart the market, it will kill you sooner or later, especially with a single commodity.
    Last edited by valerb; 8th March 2014 at 18:55.
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  6. #16
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    Valerb! Tell me it isn't true! Tell me Tulving hasn't went tits up! Just got back from the Chicken Ranch, and all I hear is folks saying Tulving's shelves are empty, punters have been fleeced to the tune of millions, and there's an even gruffer voice than usual answering the phone these days; when there's anyone around to pick the phone up! But hey, it's not like it's the first time Tulving has been caught with his trousers round his ankles, sodomising the punter, is it?

  7. #17
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    Quote Originally Posted by gollumthegreat View Post
    Valerb! Tell me it isn't true! Tell me Tulving hasn't went tits up! Just got back from the Chicken Ranch, and all I hear is folks saying Tulving's shelves are empty, punters have been fleeced to the tune of millions, and there's an even gruffer voice than usual answering the phone these days; when there's anyone around to pick the phone up! But hey, it's not like it's the first time Tulving has been caught with his trousers round his ankles, sodomising the punter, is it?


    I wouldn't know, have you been sodomized by Tulving in the past and do you have some deep dark (pun intended) secret you'd like to share with everyone?

    If Tulving is found to be guilty of all the things in the speculation column, then we have found a dealer who has fleeced his customers worse then the best dealer selling Silver in Great Britain. Which I didn't think was possible, but then I never considered an online dealer here in the US actually sodomizing his customers.

    The only thing we can be 100% certain of at this point in time, Tulving didn't run out of inventory because the London vaults are empty or any other supply line. It's still free flowing here in the USA at $20.60 per ounce plus a small premium as I write.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  8. #18
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    Better read the writing on the wall vale, silver has sky rocketed to 21.00, London vaults are empty. It's a fools game to believe you can ever buy under 30 , better stock up ah storms ah coming, don't want to be late , don't want to miss out , don't want to get snowed in. You Jew loving, payed shill you !

  9. #19
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    Quote Originally Posted by Robert FGoens View Post
    Better read the writing on the wall vale, silver has sky rocketed to 21.00, London vaults are empty. It's a fools game to believe you can ever buy under 30 , better stock up ah storms ah coming, don't want to be late , don't want to miss out , don't want to get snowed in. You Jew loving, payed shill you !
    I know what you mean, it was only what two or three weeks ago when it lifted off from $21.50 and some of us thought it was a bit too early to call a lift off. When the spot price is at $29 and you can still buy Silver for 79 cents an ounce in premiums, then it's going to be close, but still under $30 in the US and maybe getting close to $40 in the pillaging UK.

    I'm only a member of the Super Jew Defense League, which doesn't mean I have any "Lovin" one way or the other. As far a being a paid shill, that won't be true until Northwest Territorial Mint, Golden State Mint, APMEX, Provident Metals or SiverTowne decides to send me some free Silver for free advertisement. Hell I don't even get free shipping. But I can't say they don't read my messages, Westminster Mint sent me a lump of coal for Christmas.
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  10. #20
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    Here is the latest post. It will be interesting to see if this is handled and resolved in the Bankruptcy court or the legal system with fraud involved as some are believing.

    "The Tulving Company Files for Chapter 11 Bankruptcy
    March 11, 2014 8:00PM EST
    We have just heard that The Tulving Company has filed for bankruptcy.
    The case is 8:14-bk-11492-ES.

    There are a few surprises here. First is that it is a Chapter 11 bankruptcy, which would allow for reorganization (staying in business). The second is that he lists only 9 creditors, which obviously cannot be including all customers owed metal. He lists assets as less between $0 and $50,000, much less than I would have expected. And liabilities are listed as between $1M and $10M. The date listed with the signatures is "10/7/2014". A corporate resolution is included, that allows for Chapter 7 bankruptcy proceedings (not Chapter 11 as would be expected for a Chapter 11 bankruptcy). At least 4 of the 9 creditors are people who sued The Tulving Company"
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