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REPORT ABUSIVE REPLY
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Message Subject
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Bullion Direct Files for Bankruptcy No Metal
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Poster Handle
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Anonymous Coward |
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Post Content
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Quoting: Anonymous Coward 69904181 They don't have enough metal, or they were practicing fractional reserve selling (if that is the correct term). As I said in the OP I calculate as having a value of roughly $633,000, compared to the estimated $20M+ of metal that Bullion Direct stored for customersThat is about 3% of their declared metal in warehousing for customers. That could be the same for big warehouses like COMEX. .
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