In relation to the Perth mint issue there will not be a billion dollar compensation. The facts are
1. The gold bullion was at 99.99% purity including the silver content of less than 0.01%. That is the gold standard in 4 out of 5 international gold trading countries and would be accepted in those countries. All gold has impurities, mainly silver, arsenic and copper. The stuff dug up at the super pit and other mine sites is around 93% 2. The gold is refined and not stamped FOR CHINESE CONSUMPTION ONLY. So all gold refined there is the same standard and sold on the market to a number of gold trading countries and not just China. In effect China bought a pallet of gold from the vault like you buy a packet of mince from the butchers shelf. No other country has had an issue 3. IF the gold needs to be re refined for China then it will be returned, reminted and returned to China. Perth Mint will not just give it to them. That will be a minor cost of air freight and reminting costs.
Are China playing games like they did with contaminated meat, weevils in barley, hair in crayfish. Has China complained if a shipment of iron ore content from BHP or RIO drops from 64% to 63%
The only media making a noise about this is 6PR and some Murdoch outlets. No else gives a damn.
