Bank Watch, page-2455

If Western Australia was a country it would be the 5th largest gold producing"country" in the world according to the West Australian department of mines (see link and quote from website below). Although we produce one fifth of the gold in the world the Perth Mint (located in WA) is currently out of gold stock for retail investors but retail investors aren't denied the ability to buy any amount of equity in overvalued gold producers (come and get it). That says it all, gold in short supply, gold stocks in oversupply and there prices are supported by the same printed money that is supporting the rest of the markets. The banksters have everyone over the barrel. Take Dacian Gold for example, the banksters lent the company money for a mine development based on a flawed so called "bankable feasibility stud" (that they vetted and approved). Even if you set aside the company's numerous misrepresentations and operational problems the banksters shackled the company to forward sales to guarantee payment of the syndicated bank debt. When these forward sales actually turned out to be the reason the company couldn't meet its liabilities the same banksters shut down the trading in the company and gave themselves an 80% discount to the price the company was trading at before they locked it down just to let it trade again.

How can a state that produces one fifth of the worlds gold not be delivering enough gold to its own mint to enable gold sales. I suppose a lot of the states production is forward sold so foreign banks take delivery of a lot of the gold but surely the Perth mint as the refiner of the states gold mine production should have enough gold available for retail investors. Four of my phone calls to the Perth mint today failed to contact a representative to question as to when gold stocks will be available to retail investors to buy. I'll try again tomorrow. Maybe they just can't refine and cast the bars fast enough. I hope this is the real reason.

That's all just one side show to the current situation which is playing out. I have said this for weeks but I'll repeat it again, the lack of above ground investment supply of gold is a self defeating factor for gold as an asset because gold derives it value from its tangible nature. Once that is removed by there not being enough of it to go around or by virtue of the banksters inventing a way of dividing it up into an effective virtual intangible asset, it loses almost all of its desirability as a tangible hedge against inflation. It will only be of use to the big central banks and banks that have any material reserves probably as tool to do international settlements outside of the current dominant US dollar trade settlement system. Any ETF or product that claims to hold gold on your behalf where the gold isn't immediately redeemable into physical metal that the investor can take is worthless as a real safe haven investment. These products are created by banksters and will be faulty in some way or another, just like the system of gold produced ETFs and ETFs in general. ETF products are just tools of the bankers to manipulate and control equity markets and inflate asset bubbles.Esh


"There are currently 66 operating gold mines in Australia including 14 of the world’s largest, 11 of which are in Western Australia making it the country’s major gold producer, accounting for almost 70 per cent of Australia's total gold production. This means that if it was a country, Western Australia would be the fifth largest gold producer in the world."

https://www.dmp.wa.gov.au/Investors/Gold-1480.aspx