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Real potential problems at Provident Metals
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Thread: Real potential problems at Provident Metals

  1. #1
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    Default Real potential problems at Provident Metals

    Provident Metals is part of the group that makes up Elemetal Metals, along with Elemental Mint, NTR and Ohio Precious Metals. Apparently there is a major problem taking place within Elemetal Metals that may very well bring down the entire group. For that reason and for the foreseeable future, I will not be listing any future sales posted by Provident Metals and would strongly advise anyone that might have decided to store their precious metals with them to withdraw any and everything you can as fast as you can before it's too late. Tens of Million have been lost in stored metal with Bullion Direct and Northwest Territorial Mint just to name a few of the largest online dealers in the past few years. You do not want to be next, better safe than sorry. This is not to say Provident Metals is going to be the next large dealer going out of business, but it doesn't look good at this point and it's better to beat the crowd to anything that can be removed while there is still metal to be removed if there is a problem. It's also far better to have someone try and take it back from you than to try and get something that turned to dust in a bankruptcy.

    So far, I'm not aware of any problems at Provident Metals, however the group is very large and the problems seem to be much greater than the Provident Metals operation, so it could very well get swallowed up in a financial nightmare along with everyone's money and potential stored metal if it isn't properly segregated as was the case with Northwest Territorial Mint. A lot of the metal stored at NWTM was not specifically identified to an owner on a carton, so it became part of the company assets and not even tried to figure out who it might belong to or split it with those it should belong to. The Bankruptcy trustee just did a precious metals grab for his own purpose to keep the company in funds to do as he saw fit. If you have followed the Bullion Direct and NWTM bankruptcies you know what I mean when it comes to the stored metal. It didn't matter what the records showed, it only seemed to matter if someone's name was on a box of metal or not.

    Doing business with Provident Metals at this time might very well be a gamble, you decide for yourself.

    I've been a fan of Provident Metals for several years and have done a lot of business with them, more selling than buying.

    That being said, the vast majority of all my Silver is in one ounce Northwest territorial Mint rounds, bought one to two decades before they went belly up.

    You just never know what's going to bring down a bullion dealer as they will never tell you in advance.

    NWTM was suppose to be running a Ponzi scheme back in the 1990's and if that was true they would never have lasted another 20 years.
    Last edited by valerb; 8th April 2017 at 02:26.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  2. #2
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    Default

    Quote Originally Posted by valerb View Post
    Provident Metals is part of the group that makes up Elemetal Metals, along with Elemental Mint, NTR and Ohio Precious Metals. Apparently there is a major problem taking place within Elemetal Metals that may very well bring down the entire group. For that reason and for the foreseeable future, I will not be listing any future sales posted by Provident Metals and would strongly advise anyone that might have decided to store their precious metals with them to withdraw any and everything you can as fast as you can before it's too late. Tens of Million have been lost in stored metal with Bullion Direct and Northwest Territorial Mint just to name a few of the largest online dealers in the past few years. You do not want to be next, better safe than sorry. This is not to say Provident Metals is going to be the next large dealer going out of business, but it doesn't look good at this point and it's better to beat the crowd to anything that can be removed while there is still metal to be removed if there is a problem. It's also far better to have someone try and take it back from you than to try and get something that turned to dust in a bankruptcy.

    So far, I'm not aware of any problems at Provident Metals, however the group is very large and the problems seem to be much greater than the Provident Metals operation, so it could very well get swallowed up in a financial nightmare along with everyone's money and potential stored metal if it isn't properly segregated as was the case with Northwest Territorial Mint. A lot of the metal stored at NWTM was not specifically identified to an owner on a carton, so it became part of the company assets and not even tried to figure out who it might belong to or split it with those it should belong to. The Bankruptcy trustee just did a precious metals grab for his own purpose to keep the company in funds to do as he saw fit. If you have followed the Bullion Direct and NWTM bankruptcies you know what I mean when it comes to the stored metal. It didn't matter what the records showed, it only seemed to matter if someone's name was on a box of metal or not.

    Doing business with Provident Metals at this time might very well be a gamble, you decide for yourself.

    I've been a fan of Provident Metals for several years and have done a lot of business with them, more selling than buying.

    That being said, the vast majority of all my Silver is in one ounce Northwest territorial Mint rounds, bought one to two decades before they went belly up.

    You just never know what's going to bring down a bullion dealer as they will never tell you in advance.

    NWTM was suppose to be running a Ponzi scheme back in the 1990's and if that was true they would never have lasted another 20 years.
    So you do actually listen to some of the videos that I link to.
    Until your post, that video was the only place on the entire internet that I have found referencing this MAJOR and obviously suppressed news event.
    Damn Scotia banksters.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  3. #3
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    Default

    Quote Originally Posted by silverheartbone View Post
    So you do actually listen to some of the videos that I link to.
    Until your post, that video was the only place on the entire internet that I have found referencing this MAJOR and obviously suppressed news event.
    Damn Scotia banksters.

    Of course I do, just because most of them are as crazy as you, doesn't mean they are all insane!!!

    I actually tried to send you a message this morning thanking you for that link, but your inbox is full.

    Not only is this link you provided https://www.youtube.com/watch?v=JbDEPAFZECE

    but then you can see a couple others out there with additional information

    https://www.youtube.com/watch?v=BFpJ5w3_JPk

    https://www.youtube.com/watch?v=j6pQrmkUbFU

    Article: Billions in drug dealers’ illegal Amazon gold ‘laundered’ through Miami refinery, feds say - http://www.miamiherald.com/news/loca...139228368.html

    Article: Salesman Who Bought Gold in Jungle to Fight Laundering Case - https://www.bloomberg.com/news/artic...dering-charges
    Last edited by valerb; 8th April 2017 at 16:52.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  4. #4
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    Default

    Those were some informative videos.
    Thanks for posting those links.

    I just saw the email about the full emailbox, but with only a ridiculously tiny 50 message limit, why bother clearing it?

    Now I see that you are all over this story. Now I know where to go for the news.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  5. #5
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    Quote Originally Posted by silverheartbone View Post
    Those were some informative videos.
    Thanks for posting those links.

    I just saw the email about the full emailbox, but with only a ridiculously tiny 50 message limit, why bother clearing it?

    Now I see that you are all over this story. Now I know where to go for the news.

    That really sucks, I guess it really is not who you know, but who you, well you know the rest of that line...

    I only have a 25 message limit
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  6. #6
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    An interesting message from the boss himself at Provident, truth, fiction, life preserver, who knows, only time will tell.

    I'm very skeptical of anything going on within the Elemetal organization right now and that includes Provident Metals.


    Message from CEO Joe Merrick

    By ProvidentMetals.com on April 10, 2017Filed Under: News


    As you may know, there have been recent negative articles written about alleged South American activities of three former employees of NTR Metals Miami, LLC, an indirect subsidiary of Elemetal, LLC. Provident is partially owned by Elemetal.

    In light of this media, I want to give you an update on Provident’s status. For over a year, Elemetal and Provident have been seeking a new business partner for Provident in its next chapter of growth.

    In late 2016, I found a new partner and we are currently moving forward to effectuate an agreement.

    As always, Provident looks forward to continuing to serve you well during this transition and the many exciting years to come. And we wish Elemetal the very best.

    Sincerely,

    Joe Merrick
    President and CEO
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

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