For all you who think there's a "real" marketplace in the U.S.
piecesofme
Posts: 6,669 ✭✭✭
there's more trouble in paradise.
If you buy from the big houses, you're taking just as much of a chance buying on the BST. I don't know what some of you don't get on this subject.
There IS manipulation everywhere in the U.S. based "houses", and the new China market is going to shake things up bigtime imo.
The new China market would not allow this to happen based on what has been said about it because you have to have what you're selling before you can offer to sell it.
If you buy from the big houses, you're taking just as much of a chance buying on the BST. I don't know what some of you don't get on this subject.
There IS manipulation everywhere in the U.S. based "houses", and the new China market is going to shake things up bigtime imo.
The new China market would not allow this to happen based on what has been said about it because you have to have what you're selling before you can offer to sell it.
To forgive is to free a prisoner, and to discover that prisoner was you.
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Comments
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Bd is not a normal bullion dealer as they deal( gamble) also in a nucleo exchange and I'm sure that's where they will find their unique derivative problem originated...
Much like a small casino goin belly up, I believe only when some major leaguers go under, if ever, then maybe there would be a legitimate shortage, that's maybe...
The news can make it seem shortage related on a big scale but is it nowhere near it...
The price is going up. I know. I just sold the monster box I bought and need another…. and have to replace at a higher cost, even though the prices are leveled out, or clearly lower (current spot price).
Picked up the pace (as the market is concerned) , and if the price drops further, even as prices go up for delivery…, well and good. Whatever happens, there is a real marketplace in the U.S.
Got silver ? Got gold ? Let's make a deal.
As of midnight this is the 6th Anniversary date of me being in a brick and mortar. (est. July 4, 2009)
There'd better be a "real" marketplace in the U.S. or I'm living a nightmare. Or in a fantasy
HE>I
every other store in America and the world could care less, they selling their own stuff ...
Man that sucks , I always liked bullion direct
Edited to add turns out there is a 12 page thread about this on bullion directs own forum that started in March so regular buyers there knew there was an issue months ago
bullion direct has had my money for a month
Paper metals and derivatives are one thing. Physical metal in your own possession is quite another. First Tulving........
This ^
Even if customers get their cash or PMs finally from BD, you still could have some clawback concern. Hope it works out for those that are out money, doesn't look that good.
<< <i>there's more trouble in paradise.
If you buy from the big houses, you're taking just as much of a chance buying on the BST. I don't know what some of you don't get on this subject.
There IS manipulation everywhere in the U.S. based "houses", and the new China market is going to shake things up bigtime imo.
The new China market would not allow this to happen based on what has been said about it because you have to have what you're selling before you can offer to sell it. >>
I don't know about the business model of this Bullion Direct and Tulving, sounds like it is a "just in time" or even "juuuuust a liiiiitle late" schedule.
Anyway, GREAT Article OP, actually the comments are even better, especially the ones by "dogismycopilot"
Liberty: Parent of Science & Industry
I always liked BD but actually when they revamped the site to put nucleo and catalog prices on the same page it had me scratching my head . With the 1% commission on nucleo for both parties it still used to be cheaper than catalog. Lately it seemed that it was cheaper to just buy out of the catalog , it sort of marginalized the nucleo market . I hadn't used nucleo since around 2012 so I don't know when things changed.
I guess if they undercut the nucleo sellers prices then the buyers dried up for individuals trying to market their own metal.
Are the APs or other distributors that low on stock or is BD that far behind in paying their bills?
<< <i>Even if customers get their cash or PMs finally from BD, you still could have some clawback concern. >>
How would a clawback work if I bought, let's say, a 100 oz silver bar from them?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Even if customers get their cash or PMs finally from BD, you still could have some clawback concern. >>
How would a clawback work if I bought, let's say, a 100 oz silver bar from them?
Tell them you sold it to another silver bullion dealer.....or lost it in a boating accident on the Great Lakes.
<< <i>
<< <i>
<< <i>Even if customers get their cash or PMs finally from BD, you still could have some clawback concern. >>
How would a clawback work if I bought, let's say, a 100 oz silver bar from them?
Tell them you sold it to another silver bullion dealer. >>
Tulving , and then they can blame A-mark
<< <i>
<< <i>Even if customers get their cash or PMs finally from BD, you still could have some clawback concern. >>
How would a clawback work if I bought, let's say, a 100 oz silver bar from them?
Generally IIRC clawback/s would be more of a concern, if they bought from you instead of the other way around. If they owed $$ to a creditor, but bought metal/s from you instead, the creditor could go to court and try to get the $$$ back saying they should have paid their debt instead of buying from you. If they are successful, you may or may not get your metal/s back.
OTOH, if you bought 60,000 ounces that should have gone to another customer, that other customer may try to go after your metal. I doubt anyone would bother for 100 ounces of silver.
"BBB has recently received numerous pending disputes regarding this business. Please review this Business Review for a summary of those disputes. BBB encourages consumers to also reach out to the Texas Attorney General's office and/or their local AG's office regarding any disputes."
BBB complaints on delivery issues
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
I knew it would happen.
<< <i>Currently from the Better Business Bureau:
"BBB has recently received numerous pending disputes regarding this business. Please review this Business Review for a summary of those disputes. BBB encourages consumers to also reach out to the Texas Attorney General's office and/or their local AG's office regarding any disputes."
BBB complaints on delivery issues >>
Robbing Peter to pay Paul or not paying Paul at all. Seems like a bad decision snowballed out of control. Not unlike a former forum member now deceased.
I agree, and what gets me is how some blindly follow these bullion houses even when they HAVE had an issue or aware of growing complaints. It amazes me.
<< <i>If you're doing business with someone and there's even just a hint of something screwy, don't do it. It's not worth it
I agree, and what gets me is how some blindly follow these bullion houses even when they HAVE had an issue or aware of growing complaints. It amazes me. >>
They have been touting delays in shipping on their website for months now. I use their site, but only for PM pricing.