How The Massive Gold & Silver Theft Really Works
Gold, Gold & Precious Metals, Contrarian
Seeking Alpha Analyst Since 2009
Nick Barisheff, author of $10,000 Gold: Why Gold's Inevitable Rise Is the Investors Safe Haven, is the founder, President and CEO of BMG Group Inc. (BMG), a company dedicated to providing investors with a secure, cost-effective, transparent way to purchase and hold physical bullion. BMG is an Associate Member of the London Bullion Market Association (LBMA) and the Responsible Investment Assosciation (RIA). Widely recognized as an international bullion expert, Nick has written numerous articles on bullion and current market trends that are published on various news and business websites. He has appeared on BNN, CBC, CNBC and Sun Media, and has been interviewed for countless articles published in leading business publications across North America, Europe and Asia.
Summary
- Rigging of the precious metals markets.
- Why an audit of physical gold holdings at GLD does nothing to prove the bars are not leased into the fund by someone else.
- How China can hold the gold they own and the central bank does not report it, using the sovereign wealth fund.
Stuart Englert, author of Rigged: Exposing the Largest Financial Fraud in History, and I sat down with Robert Kientz of Gold Silver Pros to discuss: why an audit of physical gold holdings at GLD does nothing to prove the bars are not leased into the fund by someone else. The audit only focuses on validating the bars claimed are stored, but does not check chain of title to them prior to entry to GLD.We discuss what happens when a large bank, who is an authorized participant in GLD, goes bust and potentially takes the GLD with it. We talk about why the gold market has not developed a robust title process like we have in real estate. We also discuss why it’s easy to move gold around the world, melt it, and recast it in new bars or sell it to jewelers without most people every really knowing it.We discuss how China can hold the gold they own and the central bank does not report it, using the sovereign wealth fund. We also discuss what happens when that gold, which had been leased from central banks around the world, never comes back to the West. The many chain of title problems in the gold industry which allows these shadowy gold thefts to occur over and over again. Why 2021 might result in a currency war due to China’s gold hoard and the revaluation of the global SDR.And lastly, we talk about why a 100% gold portfolio is the best idea under turbulent market conditions.
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