Perth Mint Unallocated Account Scam? - Andy Schectman #5160
Perth Mint\u2019s unallocated, pooled account program appears to be in trouble. People seeking delivery or allocated metals have been complaining about major delays or even a failure to delivery. In their recent annual report, they indirectly admit that they don\u2019t have the metal. It\u2019s been re-hypothocated to the moon. Advice, especially now, never, ever buy unallocated anything. Andy says that Perth has been a great supplier of physical silver to his company. Beware of counter-party risk. It\u2019s evidenced by the recent run on Comex. Beware of SLV and GLD. Inflation and interest rates have been heading higher and have no where to go but up. Money printing is completely out of control. Inflation is running 3-4 times higher than the nominal interest rate being paid on treasuries. It\u2019s a very precarious position. They can\u2019t raise rates to attack inflation. Until you see rates rise above the rate of inflation, there\u2019s plenty of room to go higher in the gold and silver market. Basel 3 June 28 of this year the new net stabilization rules go into effect. The mandate will increase 85 percent collateral in metlas markets, up from nearly zero now. More on that later.