Kitco was started in the late 1970's by a young college student Bart Kitner who expanded his gold merchant business in Eastern Canada in the 1990's into other industrial areas and precious metals. In 1995 the internet provided Kitner with the opportunity to expand sales and provide precious metals information to a global client base. The website now attracts over a million visitors a day and the company occupies more than two floors of a Montreal office building and three other offices in New York, Hong Kong and Shanghai.
A curious relation of Kitco has indeed been John Nadler. Most would assume Kitco's bread and butter is built on selling gold and silver and one would have thus thought HIGHER gold and silver prices. Not nessecarily. Their Chief analyst John Nadler has for the last 10 years been calling the gold market a bubble and predicting lower prices just around the corner. All the while over that same period the price of gold has risen four fold but YET Nadler has retained the top job at Kitco as reward for his persistent failed analysis.
We are now informed the gold and silver buying public arent the only ones parties such as John Nadler at Kitco may been leading astray. The Canadian tax office is alleging Kitco have evaded paying $150 million in sales tax owed in an elaborate fraud involving more than 100 companies between 2006 to 2010. http://www.theglobeandmail.com/report-on-business/gold-dealer-in-crosshairs-of-quebec-tax-agency/article2055402/
If one wonders who those 100 companies may include, Kitco's brochure lists relationships and associations with some very well known parties indeed;
https://corp.kitco.com/en/public_relations.html
"we have built strong relationships with other world-class companies. Like our customers, these companies trust us. And we trust them because, like us, they have solid reputations built on impeccable service"
Brinks, Royal Canadian Mint, GAS, The Perth Mint, Johnson Matthey & Goldmoney.
In addition to those with close links to Kitco the brochure lists HSBC, made famous for being one of the 2 bullion banks on COMEX sued no less than 25 times in the last 9 months on allegations of manipulating the silver market LOWER.
The opaque bullion market just got a little clearer.
