Bullion Direct Files for Bankruptcy No Metal

We always ride. The market manipulation will only get worse though. The real benefit of the investment will hit probably about the time our kids take over things. So longevity wise it is still awesome.

But unfortunately all my gold and silver was taken by a real leprechaun. ..so theres that....

Most of us,but many just have not awoke yet.

I wanna invest some cash without worrying about having to sell it but in the back of my mind I wonder if these ETFs or kitco pools actually have the metal they say they do and what would happen if they went belly-up... how much of the market is paper and what would happen if people demanded physical... DOOM! Would be fun.

Bad News: Stored Metal Nonexistent

Two documents were filed today (Declaration of Dan Bensimon and Joint Stipulation Regarding Contents of Vault). There is a lot of information in these documents.

Most importantly, they show an inventory of the IDS vault that I calculate as having a value of roughly $633,000, compared to the estimated $20M+ of metal that Bullion Direct stored for customers

[link to about.ag]

.

So true. They were taking people's money and making accounting entries for the metal without purchasing any of it.

Regulators are asleep at the wheel. They will probably jump on this one though and spin it like all dealers are fraudsters. It looks like some of them are, but not all of them. The ones that need to be investigated are the big bullion banks like COMEX

.

Bernie Madoff went into the gold business?

"Regulators are asleep at the wheel". Oh paleeze, yeah they're totally unaware and just plain old ignorant, I'm sure

Check out CEF for a fully audited fund that holds 100% of its silver & gold.No I don't own any...yet.

Thread: Running out of physical coin/bullion?

Can I get a little credit please. Three responses from you cunts. Douchebots. All of you.

:dubya:

I made a very large (very large) silver bullion order from jmbullion on the 14th. The shipping label was created but the product still hasn't shipped. I am getting complete damage control from their claims department. She actually said to me she "has no idea what is going on". Today I get an email saying she has finally heard back from the branch that ships the metal and that they will call me tomorrow. So instead of a simple email saying that my order has shipped, I have to have a phone conversation with these people tomorrow. Not expecting good news

Paper silver

Serious conversation I had with a silver seller:

Seller: "We will only charge you 1% annual fee to safely store your silver with us. That's far lower than any of our competitors...and you have the peace of mind knowing it's safe."

Me: "But I want to take delivery of the actual silver"

Seller: "Great news. You qualify for for the 1% fee waiver. We will store for you for free. How's that?"

Me: {Click}

Bad News: Stored Metal Nonexistent

Two documents were filed today (Declaration of Dan Bensimon and Joint Stipulation Regarding Contents of Vault). There is a lot of information in these documents.

Most importantly, they show an inventory of the IDS vault that I calculate as having a value of roughly $633,000, compared to the estimated $20M+ of metal that Bullion Direct stored for customers

[link to about.ag]

.

So they told customers their gold was in the vualts but it was a lie. People need to go to jail.

Bad News: Stored Metal Nonexistent

Two documents were filed today (Declaration of Dan Bensimon and Joint Stipulation Regarding Contents of Vault). There is a lot of information in these documents.

Most importantly, they show an inventory of the IDS vault that I calculate as having a value of roughly $633,000, compared to the estimated $20M+ of metal that Bullion Direct stored for customers

[link to about.ag]

.