The silver fraud continues

[Ebie]

Writeup on Unallocated silver

https://twitter.com/i/web/status/1379457958979981321

Is Kitco also not to be trusted?
I know that they declared bankruptcy a few years ago, and, allegedly the creditors wanted the non-allocated metal --that he seems to claim is not there in the first place. However the judge would not permit the creditors to take the metal.

 

[AUnut]

Is Kitco also not to be trusted?
I know that they declared bankruptcy a few years ago, and, allegedly the creditors wanted the non-allocated metal --that he seems to claim is not there in the first place. However the judge would not permit the creditors to take the metal.

OK, I hope everyone knows, but here goes anyway.
If you don't hold it, you don't own it.

Bottom line.

AUnut

 

[nowon]

Is Kitco also not to be trusted?
I know that they declared bankruptcy a few years ago, and, allegedly the creditors wanted the non-allocated metal --that he seems to claim is not there in the first place. However the judge would not permit the creditors to take the metal.

What Aunut said...

I'd guess that a Canadian company like kitco has a high risk of also having ties to the bullion banks, and that they might be coerced into shipping metals to the Comex... just like the Perth Mint

 

[nowon]

One year to deliver from kitco pool?

 

[the_shootist]

One year to deliver from kitco pool?

View attachment 206886

Uhoh! How long before all those paper metals holders hear about this and start demanding their physical metals? The triggering event which causes the first domino to fall can be a very small and seemingly insignificant one

 

[Ebie]

OK, I hope everyone knows, but here goes anyway.
If you don't hold it, you don't own it.

Bottom line.

AUnut

Yes, I understand.
But, in that case allocated vs non-allocated means nothing.

 

[AUnut]

Yes, I understand.
But, in that case allocated vs non-allocated means nothing.

Absolutely correct!

 

[nowon]

Uhoh! How long before all those paper metals holders hear about this and start demanding their physical metals? The triggering event which causes the first domino to fall can be a very small and seemingly insignificant one

The junior silver miners ETF is already moving out of the manipulated down trend.. smelling the bouquet of fresh squeezed bullion bank

 

[Ebie]

One year to deliver from kitco pool?

View attachment 206886

This makes no sense.
Kitco has more than 9999 ASEs and 9999 Silver Maples for sale right now.
(W 1-2 week delay, max.)
So just convert the pool to ASEs etc, and request delivery.

 

[nowon]

If you have a pool account and are able to convert please post results

 

[Oldmansmith]

Read the comments...

 

[the_shootist]

Is Kitco also not to be trusted?
I know that they declared bankruptcy a few years ago, and, allegedly the creditors wanted the non-allocated metal --that he seems to claim is not there in the first place. However the judge would not permit the creditors to take the metal.

The concept of fractional reserve banking applied to precious metals? Hey! Why not???

 

[the_shootist]

Read the comments...

I'm tellin ya, this could be the start of the avalanche!!!

 

[oldgaranddad]

The election wasn’t fraudulent and COMEX vaults are brimming with precious metals. Surely if you think otherwise you are a right wing nut.

 

[Ebie]

If you have a pool account and are able to convert please post results

In the past, I have sold and converted to $. I have never directly converted to physical, but, I think that the $ value just goes to your Kitco $ account, and then you can order what you want.

 

[the_shootist]

 

[AUnut]

Silver hits $1000?

Gone like the wind, my friend!
Like to here!

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[rte]

View attachment 206956

I know this one...
Shut the boo boobtube off
and get a hobby?

 

[Voodoo]

The concept of fractional reserve banking applied to precious metals? Hey! Why not???

The entire concept OF fractional reserve banking started with Gold deposits. I mean, this isn't exactly shocking.

 

[the_shootist]

 

[nowon]

Kitco admitting that they can't cover all of the pool accounts with physical

 

[Uglytruth]

Saw on a message board the same about Sprott PSLV. Can anyone confirm that? Is it noise to get people to take possession of physical and help the squeeze?

 

[nowon]

Regarding PSLV, it's an allocated physical metals trust which holds the metal in the custody with the Royal Canadian Mint. It's subject to audit twice per year iirc. That is clearly detailed in the prospectus, and infractions would open Sprott to legal problems.. which imo is good reason for them to follow the rules, given how wealthy the Sprott empire holdings are.

The clear advantage of PSLV is that it takes physical 1000 oz bars out of circulation and that is the fastest way to squeeze the basturds in Comex.
2c

 

[nowon]

Antidote for price manipulation... liking Endeavor

https://twitter.com/i/web/status/1380138798386982912

 

[engineear]

Kitco admitting that they can't cover all of the pool accounts with physical
View attachment 207001

So, they charged you for invisible silver and then charged you to store It? Scamalicious. Like, I bought a bedroom set that I can't have and am being charged for you to store it and you don't have it...sounds like a 3 letter government agency.

Torches and pitchforks on the horizon.

 

[oldgaranddad]

Antidote for price manipulation... liking Endeavor

https://twitter.com/i/web/status/1380138798386982912

That's one thing about precious metal stockpiles, no spoilage. They can hold the metal for as long as they want for the price that they want.

I wonder if they stockpile it in the mine does that make it un-mined silver? Asking for my tax accounting friend.

 

[the_shootist]

So, they charged you for invisible silver and then charged you to store It? Scamalicious. Like, I bought a bedroom set that I can't have and am being charged for you to store it and you don't have it...sounds like a 3 letter government agency.

Torches and pitchforks on the horizon.

Why would anyone plop down thousands of dollars on a promise? If I buy a car I want that car in my driveway so I can touch and and, silly as it sounds, drive it once in a while, not sitting on the new car lot. I realize one does not 'drive' silver but I do hold it in my hands once in a while. That alone is worth having it in my physical possession.

Maybe I'm just not thinking about it right

 

[Voodoo]

Maybe they should store it at the bottom of their tailings Pond.

 

[Ebie]

"Kitco admitting that they can't cover all of the pool accounts with physical"
I called Kitco 6 months ago
The agent said that the exact opposite: They had all of the physical metal in their possession for the accounts.
Also, of course, I could cash out any time, and buy physical from them, if I wanted to...

 

[Argentsum]

What is the advantage of holding silver in a pool as opposed to actual possession?

There must be an advantage as people do it.

 

[Ebie]

What is the advantage of holding silver in a pool as opposed to actual possession?

There must be an advantage as people do it.

More liquid.

 

[AUnut]

More liquid.

And less fees, because YOU DON'T OWN IT!

 

[the_shootist]

And less fees, because YOU DON'T OWN IT!

I own all mine and pay NO fees. What am I doing wrong?

 

[AUnut]

I own all mine and pay NO fees. What am I doing wrong?

Dang purty, ain't it?

 

[the_shootist]

Is anyone surprised that SDBullion is offering COMEX bars for sale and saying they're available for order? I don't recall them offering these in the past but I could easily be mistaken

 

[Voodoo]

I own all mine and pay NO fees. What am I doing wrong?

Thats easy on a small scale. But a 100k or greater dollar investment into silver is much more difficult to handle personally.

 

[the_shootist]

Thats easy on a small scale. But a 100k or greater dollar investment into silver is much more difficult to handle personally.

I respectfully disagree. What makes you think that?

 

[Voodoo]

I respectfully disagree. What makes you think that?

There comes a point where it is Not reasonable to take on that much risk by storing it yourself. That risk is greater than what most perceive the risk in something like the Perth Mint account. You can be robbed, have a fire, etc.

 

[AUnut]

There comes a point where it is Not reasonable to take on that much risk by storing it yourself. That risk is greater than what most perceive the risk in something like the Perth Mint account. You can be robbed, have a fire, etc.

Being robbed is the problem. Fire just means it needs to be refined into 100 oz bars, but it will still all be there. Same with Gold. Or Platinum, for that matter. Paper? well, paper burns.

There are many ways to mitigate the robbery problem.

 

[AUnut]

Is anyone surprised that SDBullion is offering COMEX bars for sale and saying they're available for order? I don't recall them offering these in the past but I could easily be mistaken

View attachment 207019

Chinese knock-off bars? Not quite 1,000 oz.
LOL!