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Robert Kientz of GoldSilverPros.com: Perth Mint runs a fractional-reserve metals scheme
11:45p ET Friday, May 21, 2021
Dear Friend of GATA and Gold:
Robert Kientz of GoldSilverPros.com reports this week that his detailed review with an accountant of the Perth Mint's latest annual report shows that the mint does not have all the metal it claims to vault for customers, nor enough cash to cover the difference, and that the mint is lending huge amounts of metal to unidentified entities.
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This doesn't mean that the mint is insolvent, Kientz says, but it could be vulnerable to a vault run.
Kientz's report is a 32-minute video headlined "The Perth Mint Is Running a Fractional-Reserve Metals Scheme" and it's posted at YouTube here:
https://www.youtube.com/watch?v=6QfoWiC66v0
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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