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Thursday Conversation - John Adams of Adams Economics

29

There has been a lot of smoke lately regarding the unallocated precious metals accounts at Perth Mint and elsewhere. John Adams joins us today to discuss his concerns with unallocated accounts and he gives a first hand account of the issues impacting customers of the Perth Mint.

John Adams is chief economist for As Good As Gold Australia and also the proprietor of Adams Economics. As John explains, he first came to understand the sleight of hand known as "unallocated accounts" back in 2016. In the years since, he has championed the cause of exiting these unbacked positions in favor of real, physical metal.

Of late, John has been a point man in Australia for bringing to light the issues within the unallocated accounts of the Perth Mint. He's caused such a ruckus that Richard Hayes, the CEO of the Perth Mint, recently appeared on Australian radio in an attempt to dispel concerns about their programs. Did Hayes effectively pull this off? Judge for yourself here: https://www.abc.net.au/radio/perth/programs/breakfast/perth-mint-silver-...

John then proceeds to explain how and why Hayes did a good job of dodging and obfuscating while completely avoiding the primary issue. Hayes states that there are over "60 metric tonnes of silver readily available in 1000 ounce bars" but John shares a story of a client who, just last week, was denied the opportunity to purchase such bars.

So whom to believe? All I know is what I've stated repeatedly since 2010. Namely...if you don't hold it, you don't own it. Period. End of story. My most recent public article on this subject was just posted earlier this week at Sprott Money: https://www.sprottmoney.com/blog/When-Unallocated-Becomes-Unavailable-Cr...

This call unfolds in three parts:

  1. John explains his background for the first five minutes.
  2. I ask John to discuss the Australian attempt at Yield Curve Control for the next ten minutes.
  3. The final twenty minutes are dedicated to the Perth Mint and ABC Bullion unallocated metal programs with John relaying first-hand accounts of the issues his clients have had in converting and obtaining physical metal.

Many thanks to John for taking the time to visit with me today. I know you will enjoy listening to this podcast.

TF

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  29 Comments

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silverseekerConnie
Mar 26, 2021 - 1:19pm

When zero is the denominator

Connie, that's great!

Whether it is a vault, Mint, or central bank; as the fractional reserve gets closer to zero; the scheme destabilizes, as the leverage ratio exponentially goes to infinity.

I believe the Feb 3rd SLV prospectus change and Jeff Curry CNBC disclosure was a huge tip off that the CME/LMBA/Comex shell game is a lot closer to Zero Unallocated Silver left in the system; and they are now running an 'end game' reset scenario.
It is playing out as speculated; outflows from the discredited SLV to the authorized participants redeeming the baskets while knee capping the paper price.
If global mine supply is a little under 3 million ounces; and demand remains north of that figure I think we are going to witness some hard reality hand-to-mouth panic buying.

There is NO metal left in hiding that anyone wants to let go of as this price and the fractional 'ownership' implosions may finally be coming to fruition.

Wizdum
Mar 26, 2021 - 11:52am

Ain't there some..

...weighty fed banker goon Op-Ed supposed to come out today?

-Wiz

ORO Y PLATAAGXIIK
Mar 26, 2021 - 11:47am

Amen

They have been chewing on my ass for

decades.

We come in peace.

AGXIIKORO Y PLATA
Mar 26, 2021 - 11:37am

I like the Twilight episode 'To Serve Man'

The big alien, holding book with this title, telling the sheep to come with him to a better world and life

seems like we've been reading from this book for decades thinking our overlords mean us well.

turns out it was a cook book

If you're not at the table you are on the menu

LPRainforest
Mar 26, 2021 - 10:53am

Or not ...

They're completely out of stock! Must be a lot of people worried about the quality of their metal.

Connie
Mar 26, 2021 - 10:37am

That's funny!

I'm mad that I didn't come up with that first!

Texas SandmanRainforest
Mar 26, 2021 - 10:24am

thank you!

i have a precious metals verifier, but that one uses ultrasound, so i'm pretty sure it can't read through that plastic capsule.

i had to go through bgasc and pay up a little to get one, but i think that's a sound investment.

of course the question arises... if i do find a fugazzi in my stack at this point, what in the hell would i do about it...

Connie
Mar 26, 2021 - 9:39am

Please help me with my new

Please help me with my new business. I'm starting a silver storage vault. You send me money, and I send you an email saying you own some unallocated metal. Email me for details at and[dot]its[dot]gone[at]gmail[dot]com

/sarc off

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mavens
Mar 26, 2021 - 9:15am

Rescheduled for April 21

I'm going to find a lot of very nice people and a vault full of allocated metal.

AIJ Tahoe
Mar 26, 2021 - 9:04am

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