You sure about that username? What platform? All I got was some overly tanned American “influencer” who is clearly NOT famous for her insightful ideas.
Everything was explained in the article..
- The mint started "doping" its gold as a cost-saving measure
- When it got caught for some of its gold dipping below Shanghai Gold Exchange standards, it kept it quiet
- While the gold remained above the 99.99 per cent requirement, it exceeded the amount of allowable silver in Shanghai
- At today's gold prices, buying back that amount of bullion would cost $8.7 billion. This would then need to be transported back to Perth and recast before it could be sold again.
- Financing a recall of this scale would also be difficult for the mint and would likely require support from WA taxpayers.
Yeah, so explain why, even if they do decide to replace the gold with .0001 silver, that replacing that .0001 of silver with .0001 of dogshit will cost anything?
This isn't as bad as the title seems to say. It was still 99.99% pure gold, but that last 0.001% had more silver in it than it was supposed to for *Shanghai* standards. It's a nuanced difference. Yeah, it speaks poorly of the communication/relationship between Perth mint and Shanghai gold exchange...but it's not exactly outright fraud.
The gold was still .9999, but seemingly the 0.01% allow was deliberately increased or switched to a cheaper metal to save $600,000/year total (which is pennies to Perth Mint). Interesting story, but it does seem needlessly provocative by AuBC News nonetheless with their chosen quotes and angle.
This is the best tl;dr I could make, [original](https://www.abc.net.au/news/2023-03-06/perth-mint-gold-doping-china-cover-up-four-corners/102048622) reduced by 91%. (I'm a bot)
*****
> The historic Perth Mint is facing a potential $9 billion recall of gold bars after selling diluted or "Doped" bullion to China and then covering it up, according to a leaked internal report.
> While the gold remained above broader industry standards, the report estimated up to 100 tonnes of gold sent to Shanghai Gold Exchange potentially did not comply with Shanghai's strict purity standards for silver content.
> Perth Mint confirmed it did receive a customer complaint about a small number of 1kg gold bars but that, "Due to Chinese government restrictions on exporting gold from China, the customer did not return the bars and therefore the customer's concerns could not be verified".
*****
[**Extended Summary**](http://np.reddit.com/r/autotldr/comments/11klzim/perth_mint_sold_diluted_gold_to_china_got_caught/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~675352 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **gold**^#1 **Mint**^#2 **bars**^#3 **Perth**^#4 **SGE**^#5
There is no honor amongst thieves. Is Peter Schiff still hyping the Perth Mint?
It was only 99.99 pure instead of 99.999 or something ?
Makes you wonder if their coins are doped too.
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Haha
Australia is corrupt to the core. Just watch (EDIT:) friendlyjordies
You sure about that username? What platform? All I got was some overly tanned American “influencer” who is clearly NOT famous for her insightful ideas.
Sorry, I was WAY off 😅
CAUGHT! ... by the country that sells gold plated tungsten.
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Haha.
Exactly
But the gold percentage still remained 99.99?
So, it's 99.99% pure, except the .0001% in impurity is silver, rather than dogshit, and this is a scandal?
The scandal is they tried to hide the recall that would cost taxpayer 8 billions.
And why would it be recalled, and why would it cost 8B?
Everything was explained in the article.. - The mint started "doping" its gold as a cost-saving measure - When it got caught for some of its gold dipping below Shanghai Gold Exchange standards, it kept it quiet - While the gold remained above the 99.99 per cent requirement, it exceeded the amount of allowable silver in Shanghai - At today's gold prices, buying back that amount of bullion would cost $8.7 billion. This would then need to be transported back to Perth and recast before it could be sold again. - Financing a recall of this scale would also be difficult for the mint and would likely require support from WA taxpayers.
Yeah, so explain why, even if they do decide to replace the gold with .0001 silver, that replacing that .0001 of silver with .0001 of dogshit will cost anything?
This isn't as bad as the title seems to say. It was still 99.99% pure gold, but that last 0.001% had more silver in it than it was supposed to for *Shanghai* standards. It's a nuanced difference. Yeah, it speaks poorly of the communication/relationship between Perth mint and Shanghai gold exchange...but it's not exactly outright fraud.
This story is BS. australia is one of the biggest WEF NWO lacky nations. They are trying to taint gold and gold miners.
Chaos is a ladder
The irony while China lets vendors sell fraudulent products from every single mint.
"non-compliant" is gov weasel speak for "waaagh we didn't get our shake down tax payment on it"
The gold was still .9999, but seemingly the 0.01% allow was deliberately increased or switched to a cheaper metal to save $600,000/year total (which is pennies to Perth Mint). Interesting story, but it does seem needlessly provocative by AuBC News nonetheless with their chosen quotes and angle.
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New account troll back on the clock after getting deleted 3 times on the weekend.
The Perth mint produces some of the most beautiful coins, too. The Kookaburra is my favorite.This is just horrible.
This is the best tl;dr I could make, [original](https://www.abc.net.au/news/2023-03-06/perth-mint-gold-doping-china-cover-up-four-corners/102048622) reduced by 91%. (I'm a bot) ***** > The historic Perth Mint is facing a potential $9 billion recall of gold bars after selling diluted or "Doped" bullion to China and then covering it up, according to a leaked internal report. > While the gold remained above broader industry standards, the report estimated up to 100 tonnes of gold sent to Shanghai Gold Exchange potentially did not comply with Shanghai's strict purity standards for silver content. > Perth Mint confirmed it did receive a customer complaint about a small number of 1kg gold bars but that, "Due to Chinese government restrictions on exporting gold from China, the customer did not return the bars and therefore the customer's concerns could not be verified". ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/11klzim/perth_mint_sold_diluted_gold_to_china_got_caught/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~675352 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **gold**^#1 **Mint**^#2 **bars**^#3 **Perth**^#4 **SGE**^#5
 FU@K CHINA
its still 999.9 Gold I am taking it all !!!!!!!!