Perth Mint and Kitco Scheme Exposed

[webmaster]

Subject:Perth Mint and Kitco Scheme Exposed
By: Jason Hommel, Silver Stock Report

Overview: I believe, but cannnot prove, that Kitco is short of bullion owed to their own customers in their pool account, and this would explain why they publish the anti-gold articles that they do. If you own precious metal in a pool account or certificate form with anyone, Kitco, Perth, Monex, Goldline, any Major Bank or Brokerage, or anyone else, I think you would be wise to cash out, and get real silver somewhere else, even if you have to pay extra fees to do so.

Link: http://news.silverseek.com/GoldIsMoney/1206572052.php

[rangerkirk]

I always wondered why Kitco posted the gold negative views of Jon Nadler.

As Casey describes him, the always bearish on gold Jon Nadler

[elixer]

Jason is making me nervous. I am waiting for delivery of some silver from the Perth MInt.. I can see I will have to ride them the whole way! I always had the feeling they were selling moonbeams and not silver!

[twoggle]

Hi! I stayed away from Perth Mint because it wasn't allocated.
But I have allocated Gold and Silver with GoldMoney.com
and allocated Gold with Bullionvault. They say they do audits
and *always* have Gold and Silver in the vaults to match
what is on the books.

Are there any experiences or problems with these two or other vendors
as far as taking delivery? I like these services because you can
supposedly keep it safe in Zurich and sell it rather quickly if
need be. However, if these vendors are screwing their customers,
I'd like to know ASAP. Thanks!

T

[silverbuggy]

Hi Jason just in case you read the postings here:

Thanks for your great and always interesting silver articles!

[silver1000]

I also have an account with GoldMoney.com and I have been very happy with it. Not too familiar with bullionvault but they seem reliable too. I've never tried to redeem my gold and I'm not sure how that would work with them as far as taking delivery on your actual metal, but I have bought and sold gold several times and deposits/redemptions through wire transfers in USD have been quick and orderly.

The key I think is to have an allocated account. Plus James Turk is a reliable guy and "gets it." I don't trust that kitco does. I believe Hommel has recommended goldmoney as one of the few reliable alternatives to having physical in your possession. Check through his last few articles, it is in one of them I am pretty sure.

[prahudka]

Originally Posted by silverbuggy

Hi Jason just in case you read the postings here:

Thanks for your great and always interesting silver articles!

Yes, thanks.

[yossarian]

"I believe, but cannnot prove, that Kitco is short of bullion owed to their own customers in their pool account, and this would explain why they publish the anti-gold articles that they do."

Oh my lord, do people realize how pathetic this sounds? I have rarely run into a group of less savvy investors than those who follow silver, and their perpetual conspiracy theory of 'the man' trying to hold down the price of their favorite investment - or should I say religion.

Kitco is a major bullion dealer, with an excellent reputation which I doubt they would put at risk with such moves.

They offer a 24 hour gold news feed, plus a balanced assortment of articles representing all major points of view. Normally this is the kind of information sophisticated INVESTORS want to know, so that they can make prudent decisions, but I forgot that those who read the articles here are obsessed koolaid drinkers, not investors. Therefore anyone who suggests anything less than an insanely bullish point of view on the future of precious metals must be a 'basher' with an agenda; a site that publishes a few articles that the silver faithful don't agree with, deserves to have their reputation tarnished with unprovable accusations.

Truly sad. Ironically, it reminds me of the real estate 'investors' who only wanted to hear that real estate would go up for the next 30 years and refused to even glance at another point of view. They would viciously attack any analyst or blog which suggested caution.

Fwiw, conspiracy theorists rarely get rich. Their entire mindset is about them being downtrodden, with some unseen group who is 'keeping them down' and manipulating their investments. That is hardly the attitude of someone with power, or of a winner.

Silver is in an upward trend, and the bullish moves should continue. If enough people become concerned with the direction of the dollar, money will flow into the precious metals market, and prices will rise. Depending on the extent of the concern, the move could be considerable. In that case, enjoy the gains and take profits.

Don't ruin a great trade by getting sucked into a cult and wallowing in this kind of embarassing and pointless message board gossip.

jmho

[acemon]

If any gold and silver dealers are on the up and up, have them list the serial numbers of the silver and gold they have. Ted Butler suggested this action to his readers and the only one that did was Barclay's silver ETF. Check there web site.