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Discussion Topic: $1.1 Billion gold shipment from the US to South Africa.
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sparky5 |
05-22-2013 @ 3:49 PM
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Joined: Oct 2010
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I wonder, considering that the refiner won't say what the shipment actually consisted of, if the gold is in fact 90% Gold from Coin Melt being refined into something deliverable on LBMA/COMEX contracts? Using the excuse that someone might have taken delivery of a futures contract doesn't wash for me, because those contracts are settled in LBMA deliverable bars, not something that has to be sent off and processed. Plus, Asia has there own facilities for simply breaking down the bars to smaller bar, etc. The article keept saying refining which to me leans more towards changing the physical properties from 90% to 99.999% pure bullion.
My vote goes for it being coin melt gold. Boy, have I become cynical in my old age. ;-)
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siliwisid |
05-22-2013 @ 7:27 PM
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Joined: Aug 2011
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Interesting point. My take, is that S Africa does not TRUST the USA (or even London for that matter), so they are making sure they include the cost of refining in the entire deal?? IMO, they figure they cannot inspect the bars themselves, until AFTER delivery (using ultrasound). So they are factoring in the cost of refining, in case a lot of them contain metal other than pure gold. My 2 amero's.
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siliwisid |
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05-22-2013 @ 7:35 PM
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Joined: Aug 2011
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One more thing I noticed, in the title of the article, the word "for". Does this mean they are refining the gold FOR the US, and then planning on shipping it back (or drop-shipping it), because the US is having to come up with some REAL gold for countries demanding their gold back, like Germany? Get every last ounce out of those gold-plated tungsten bars! Since the US has very little manufacturing capacity left anymore, maybe the US would rather let a country like S Africa take care of that task efficiently and properly, before there's hell to pay. Hmmmm...
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