re: the silver deficit, nickoo
W Knee, I once posted the following which I had found somewhere.
""Apparently buyers of gold bars left with Perth Mint for safe keeping have the right to audit at any time. Supposedly a recent audit showed the vaults to be empty. Perth Mint claims that the contract fine print gives them the option to issue a certificate in lieu of the bullion, which can then be converted back to gold at their timing and discretion."" I would look further into this on gold bug sites before going further with those gold certs. Bill
I also mailed the mint and received the following reply;
This is a reply to a direct query of the mint Mr T.......
The statement you mention is both false and mischievious.
It was removed from an Australian website message board yesterday, when The Perth Mint informed the owner of the site it may take legal action and also contact the Australian Securities Investment Commission. The Mint is reviewing the matter and may take further action against other sites carrying it.
Let me reassure you that all precious metal held by The Perth Mint under the Perth Mint Certificate Program (PMCP) is safe and secure. All metal is covered by an S&P AAA rated Government Guarantee of the Treasurer of the State of Western Australia, the owner of the Mint, under the Gold Corporation Act 1987. The Perth Mint is able to meet its delivery obligations at any time.
If you have any further questions on this matter, please call me.
Regards
Michael Kile Business Development Manager GOLD CORPORATION
