Massive Precious Metals Fraud - Gold and silver not in vault as claimed
- Thread starter Martin Everson
- Start date
- Status
Yes I do and also Liberty Reserve. Them days were the wild west, but we digress.
https://en.wikipedia.org/wiki/Liberty_Reserve
P.S Nobody involved in this precious metal scam went to jail it seems ns2.
https://en.wikipedia.org/wiki/Liberty_Reserve
P.S Nobody involved in this precious metal scam went to jail it seems ns2.
Nah, these are completely useless.
The oracle problem cannot be solved. At the end of the day you need to trust the issuer to be for real including every employee there since can never audit if your token is backed.
Maybe there will be redemption issues as well.
The oracle problem cannot be solved. At the end of the day you need to trust the issuer to be for real including every employee there since can never audit if your token is backed.
Maybe there will be redemption issues as well.
Arthur Budovsky! Great guy! Honest AF! Guy delivered like clockwork! Made EVERY banker, politician, and regulator look like the crooks they are, so in retaliation they indicted, convicted, sentenced, and remanded him like the crooks THEY are! 😡
PS. Those were the GOOD old days! 😎
PS. Those were the GOOD old days! 😎
If you don't want to store your own gold then use use a govt. mint like the Perth Mint or Royal Mint; all other options have more risk. I don't see any major advantage to crypto gold like PAX Gold over the Perth Mint (and note that unlike the Perth Mint for PAX you must have at least 400 t.oz in your account to redeem your crypto gold into physical gold in London). Theft from bank safe deposit boxes and private vaults absolutely does happen (do a search on Google)...and good luck trying to get compensation for what has been stolen.
These "scandals"︀ at the Perth Mint are hot air...no one has lost money or been scammed or︁ cheated or whatever. The so called "doped" gold to China was by all accounts 9999+︂ and the Chinese themselves have not complained.
These "scandals"︀ at the Perth Mint are hot air...no one has lost money or been scammed or︁ cheated or whatever. The so called "doped" gold to China was by all accounts 9999+︂ and the Chinese themselves have not complained.
Bernie made fortunes for others and thrived thanks to those who were happy to close an eye or two. He was not the evil. If you were so naive to invest in a fund with such an equity line, you deserved to be scammed.
Sadly every year there are scandals in the gold market - recently Red Rock Secured, before that Regal Assets, metals.com etc - all big names until they aren't.
It's either straightforward scamming and stealing like Regal Assets or using dark/blood gold like OPM - which was a huge surprise for many when they got caught.
Always take delivery. Always.
It's either straightforward scamming and stealing like Regal Assets or using dark/blood gold like OPM - which was a huge surprise for many when they got caught.
Always take delivery. Always.
Crypto backed with gold is just packing dubious counterparty risk on counterparty risk. The issuers of the crypto can rug pull, the peg can break, the holders of the gold can disappear. The gold can be tungsten, or paper gold︀ relying on yet another counterparty.
- Status