Posted On March 27, 2021
Tom welcomes both the Silver Guru David Morgan and the historically consistent John Adams to discuss the shenanigans in the metal markets. John outlines the ongoing shortages at the Perth Mint and how they are failing to deliver. Even "As Good As Gold Australia," a Precious Metal Dealer and accredited Perth Mint distributor, cannot place orders for silver from the mint.
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Investors need to be sure that they have legal title to bars. There are some serious concerns about allocated accounts at the Perth Mint as individuals attempting to change their positions from unallocated to allocated are being denied.
Based on the terms of their website, they are in default. Most days, even 1000 ounce bars are unavailable, and customers are now liquidating positions and going elsewhere for metal.
Concerns remain whether allocated accounts are being backed by metal. John notes that the Perth Mint may have leased gold from the Reserve Bank of Australia, which holds its gold at the Bank of England.
David takes us back in history to discuss the beginnings of banking during the time of the goldsmiths. Goldsmiths would hold customer gold but then discovered they could issue more claim checks than they had gold in the vault. This eventually resulted in runs on these vaults when customers became concerned. David says, "Just because your getting the best price does not mean you're getting the best deal."
Those with allocated bars should be asking for their metal. These bars may have been leased or rehypothecated numerous times. There is a lot of paper silver flying around, and we need to start counting what is real and what isn't.
David discusses what panic buying could look like based on currencies like Venezuela. However, if you live in Venezuela and have silver, you can still eat. Many investors and the population at large have a normalcy bias in the face of mounting global issues.
The bottom line is if you have a synthetic metal position, you should liquidate it today and acquire the actual metal. When this is done as a global movement, it will make a massive difference in where the price will go. This will also wake up the masses as to what is happening in the economic system and is how we crack the price suppression program.
It's time for people to wake up and demand what is the real money.
Time Stamp References:
0:00 - Introduction
1:00 - Perth Mint Update
7:00 - De Facto Defaults?
10:50 - Fractional Metals?
15:23 - A Goldsmith's Story
20:14 - Past Scandals
23:30 - Shell Games
25:50 - Default Semantics
29:02 - Cash Settlements?
32:56 - Take Possession
35:04 - Price, Demand, & Supply
37:00 - Stand Aside & Burnout
40:20 - Palladium Comparisons
43:24 - PSLV Sprott Thoughts
47:16 - Silver & Cost of Living
47:52 - Concluding Thoughts
Talking Points
- Perth Mint Metal and Delivery Failures.
- Get Physical and Sell Synthetic Positions.
- Goldsmith's and claims to bars.
- Hyperinflating Currencies & Purchasing Power
Guest Links:
Website: https://silver-investor.com/
Twitter: https://twitter.com/silverguru22
David is a precious metals enthusiast with degrees in finance and engineering, and he originated The Morgan Report. This monthly report covers economic news, the global economy, and substantial capital gains by investing in the Resource Sector. The Model Portfolio includes top-tier, mid-tier, speculative, and special situations.
David considers himself a big-picture macroeconomist whose main job is education — educating people about honest money and the benefits of a sound financial system.
A dynamic, much-in-demand speaker worldwide, he has appeared on CNBC, Fox Business, and BNN in Canada. He has interviewed- The Wall Street Journal, Futures Magazine, Investing Rules, and numerous other publications.
As the Morgan Report publisher, he has appeared on CNBC, Fox Business, and BNN in Canada. He has been interviewed by The Wall Street Journal, Futures Magazine, The Gold Report, and numerous other publications.
Guest Links:
Website: https://www.asgoodasgoldaus.com.au/
Blog: https://www.adamseconomics.com/
Twitter: https://twitter.com/adamseconomics
YouTube: https://www.youtube.com/channel/UCzwmB2wn8Slp3hko2Gpj2iA
LinkedIn: https://www.linkedin.com/in/jadams1796/
John Adams is an internationally recognized thought leader and has extensive public policy, political, management consulting, and media experience. John brings a wealth of diverse skills and experiences across several industries in driving organizational and public policy outcomes.
As Chief Economist at As Good As Gold Australia, he provides analysis and commentary through economic articles and online interviews. The Australian and global economies are well into unchartered waters, awash with unprecedented levels of debt.
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