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Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up

 
Anonymous Coward
User ID: 3864736
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03/08/2023 12:24 AM
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Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
"Over the years, we have periodically reported (here, here, here, and here) of the occasional gold bar discovered as counterfeit, including gold-plated tungsten bars, but most (if not all) have been via third-party fraudsters.

'This time is different' however, as overnight reports via Australia's ABC News claims that 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."

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Anonymous Coward (OP)
User ID: 3864736
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03/08/2023 12:25 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
"The mint began doping its gold as a cost-saving measure in 2018, expecting to save up to $620,000 a year - a tiny fraction of its annual sales.

“At all times the gold bars the Perth Mint produced and sold contained at least 99.99 per cent gold, as per their specifications. This has never been in dispute,” the mint claimed in a statement after the news broke.

“These purity specifications are aligned with industry standards and akin with those set by the international market authority, the London Bullion Market Association.

“In September 2021, the Perth Mint was made aware that some of its one-kilogram bars may not have met the non-gold specifications of the Shanghai Gold Exchange (SGE). The SGE specifications demand that the non-gold component – that is, 0.01 per cent of the bar or 100 parts per million (ppm) – contains no more than 50 ppm silver.”

However, as ABC reports, just months after the doping began, the leaked internal report says refinery staff identified concerns that silver and copper levels may have exceeded those allowed by the SGE.

Despite this, refinery staff continued doping the gold.

The extent of the mint’s potential exposure if the SGE went public with its concerns and demanded a recall was outlined in the findings of the internal investigation leaked to ABC and made public on Monday night."

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HarMegiddo

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03/08/2023 12:27 AM

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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
They deserve a metal.
HarMegiddo
Anonymous Coward
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03/08/2023 12:56 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
Perth Mint has been dodgy for years if you dig deep enough

Buying gold from dodgy suppliers in PNG, child labour and dodgy fake gold nuggets, forced confessions and wrongful convictions .... Tip of the iceberg.

The Mickelberg brothersis a conspiracy in itself
Anonymous Coward
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03/08/2023 01:17 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
China just had someone do to them what they do to everyone else, then they cried about it.
Anonymous Coward
User ID: 84203109
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03/08/2023 01:20 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
Australia is a shit hole.
The Don Of Nantucket

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03/08/2023 01:33 AM

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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
OMG the gold was only 99.99% pure...the horror.

Read the fine print...not anything to lose sleep over.



dragnet-facts45
PLATA BITCHEZZZZZZ

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The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
User ID: 84203109
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03/08/2023 01:35 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
OMG the gold was only 99.99% pure...the horror.

Read the fine print...not anything to lose sleep over.



dragnet-facts45
 Quoting: The Don Of Nantucket


Still wouldn’t trust the Perth mint.
UseLessRepEATER
Those who know the least obey the best: G.F.

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03/08/2023 01:37 AM

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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
Andy Schectman said today this is a nothingburger. Just a gold hit piece to make the sheeple to become leery of gold.
Real Eyes, Realize, Real Lies.....


Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats.
~H. L. Mencken~

We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light.
~Plato~

When a well-packaged web of lies has been sold gradually to the masses over generations,
the truth will seem utterly preposterous and its speaker a raving lunatic.
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The Don Of Nantucket

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03/08/2023 01:37 AM

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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
OMG the gold was only 99.99% pure...the horror.

Read the fine print...not anything to lose sleep over.



dragnet-facts45
 Quoting: The Don Of Nantucket


Still wouldn’t trust the Perth mint.
 Quoting: Anonymous Coward 84203109


Fair enough. I'm just saying don't shit your pants over one article when read in it's entirety is really not as bad as it first sounds!
PLATA BITCHEZZZZZZ

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The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
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Australia
03/08/2023 01:38 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
Typical thiefn white people...This is how the white man operates ...No honesty in cracka lacka


yodarockonyoda
The Don Of Nantucket

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03/08/2023 01:38 AM

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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
Andy Schectman said today this is a nothingburger. Just a gold hit piece to make the sheeple to become leery of gold.
 Quoting: UseLessRepEATER


I agree.
PLATA BITCHEZZZZZZ

UPGRADE UNAVAILABLE

The Rolling Stones said it best...

"What's confusing you is the nature of my game"
The Don Of Nantucket

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03/08/2023 01:39 AM

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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
Typical thiefn white people...This is how the white man operates ...No honesty in cracka lacka


yodarockonyoda
 Quoting: Anonymous Coward 79733236


TBL-otl2
PLATA BITCHEZZZZZZ

UPGRADE UNAVAILABLE

The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
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Australia
03/08/2023 01:41 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
The black might rob the liquor store, the white man robs the country

yodarockonyoda
Anonymous Coward
User ID: 79733236
Australia
03/08/2023 01:42 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
Black man robs for survival, White man robs for greed

I love spittn fackz on this forum


yodarockonyoda
The Don Of Nantucket

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03/08/2023 01:49 AM

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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
The black might rob the liquor store, the white man robs the country

yodarockonyoda
 Quoting: Anonymous Coward 79733236


black man lacks impulse control...White man plans for the future!
Fact!
PLATA BITCHEZZZZZZ

UPGRADE UNAVAILABLE

The Rolling Stones said it best...

"What's confusing you is the nature of my game"
Anonymous Coward
User ID: 85400026
United States
03/08/2023 02:06 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
The black might rob the liquor store, the white man robs the country

yodarockonyoda
 Quoting: Anonymous Coward 79733236


black man lacks impulse control...White man plans for the future!
Fact!
 Quoting: The Don Of Nantucket

Stupidest and most worthless steal to "survive" which is a lie anyway, they are completely supported.
But its good to point out what a drag on all life they are, with no redeeming qualities
Anonymous Coward
User ID: 85385605
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03/08/2023 02:08 AM
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Re: Report -- Perth Mint Sold Billions In Diluted Gold To China, Tried To Cover It Up
The black might rob the liquor store, the white man robs the country

yodarockonyoda
 Quoting: Anonymous Coward 79733236

Doesn't change their utter worthlessness or make one thing different? They should just go to Liberia where they really belong and are people instead of beasts





GLP