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bob coleman

@profitsplusid

26 Mar

This is from the Perth Mint Agreement. Customers agreed to the following. Just because someone can not obtain the metal does not mean Perth Mint is in violation.

2.4 Unallocated Precious Metal shall be stored by Gold Corporation on the following terms:
perthmint.com/img/Certificat…

(a) the Client shall own, as an owner in common with other Unallocated Precious Metal (PM)Clients, an
undivided interest in Gold Corporation’s pool of PM Metal maintained in unsegregated storage on a fungible basis without specific identification of the Client’s Unallocated PM;

(b) Gold Corporation may use all or part of the Client’s Unallocated PM solely to fund the
PM needs of Gold Corporations’ operations. Gold Corporation shall not short sell Client
Unallocated Precious Metal nor lend Client Unallocated Precious Metal to third parties where
control

Read 14 tweets

bob coleman

@profitsplusid

13 Mar

1/For any fiduciary, institutional or individual investor considering precious metals and wants to understand the real structural risks between owning physical metals held directly vs ETFs in a brokerage account, this research is for you.

2/As manager of a physical gold and silver fund and the owner of a large Depository, I understand the nuances between price representation vs actual ownership of precious metals.

3/Although, investors use ETFs for price exposure, they will be shocked to understand that is all they own…the price for that moment.

Read 26 tweets

bob coleman

@profitsplusid

4 Mar

1/21 I have been asked by many people if there are any LBMA vault custodian or subcustodian concerns. Upon investigation this is what I found. Auditing responsibilities of LBMA vaults in London may surprise you.

2/21 Are audits required by the LBMA for vault custodians or are audits the responsibility of the customer storing the metal? The following information is supported by publicly available documents.

3/21 In a February 3, 2014 letter to the SEC, a law firm representing Brinks discusses custody and transportation services in both the USA and United Kingdom.
sec.gov/divisions/inve…

Read 22 tweets

bob coleman

@profitsplusid

15 Feb

1/16 Attention PSLV owners. We have seen a lot of news over the weekend with the prospectus changes in the silver ETFs. When investing in securities like ETFs, trusts, and structured products it is vital to read and understand the terms.

2/16 Please keep in mind, the following is meant to be educational and informative. I can not stress enough the importance of physical metal over any paper claim. Even when these paper claims are held in high regard.

3/16 I noticed something very strange which absolutely no one has picked up on. Many have cited the SPROTT PHYSICAL SILVER TRUST “PSLV” as an alternative to SLV or other ETFs. PSLV has been announcing additional deliveries of silver into the trust recently.

Read 17 tweets

bob coleman

@profitsplusid

5 Feb

From January 28 to February 2, 118,450,000 shares were created. This coincided with a $4 move higher. Over the next 2 days, SLV’s shares outstanding fell 19,450,000. This represented a 16% retracement, yet the price of silver fell all the way back to 26 or a near 100% retracement

There is a great deal of discussion that is questioning the drop in price and whether SLV has silver in the vaults. SLV reports everyday a Bullion Weight List report that itemizes every bar by Brand, Bar number, fineness, weight, and vault location. ishares.com/us/products/23…

SLV is certainly reporting metal in the Custodian and Sub Custodian vaults. To say there is no metal would be saying this 10,843 page report is completely fictitious. I do not believe that is the case since that could be considered outright fraud.

Read 19 tweets

bob coleman

@profitsplusid

3 Feb

This has been an extraordinary moment in history for the silver market. It requires a thread to demonstrate the shear amount of money that is coming into the SLV etf. Information about SLV can be found here ishares.com/us/products/23…

The following is from the section "Description of the Shares and Trust Agreement" in the SLV offering prospectus: Each SLV Share represents a fractional undivided beneficial interest in the net assets of the Trust.

As of 2-1-2021: total ounces in the Trust was 620,563,793 and total shares were 667,750,000. Each share represent approx. .929 ounces. Therefore, 61,350,000 new shares represents 56,994,150 new ounces .

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