Bullion Direct Admitting To Not Purchasing Metal Stored

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Author	Replies: 11 / Views: 3,201
Tbone Pillar of the Community United States 1839 Posts	Posted 07/29/2015 9:56 pm Bullion Direct filed for bankruptcy in July, admitting to not purchasing metal stored for customers http://about.ag/BullionDirect.htm Report this Post to the Staff

coinwatch Pillar of the Community United States 808 Posts	Posted 07/29/2015 10:48 pm Hammers home the "if you don't physically hold it, you don't own it" philosophy. Report this Post to the Staff
Ryans Rust Valued Member United States 85 Posts	Posted 07/29/2015 11:49 pm Oh wow. Report this Post to the Staff
macmercury Pillar of the Community United States 5832 Posts	Posted 07/30/2015 03:00 am Bankruptcy law protect the wrongdoers! Now the question of if there's any gold in Fort Knox pop up? Report this Post to the Staff
Strach-Man Valued Member Canada 491 Posts	Posted 07/30/2015 08:36 am Don't think this is going to end well for many people Report this Post to the Staff
Arthur Daniel Valued Member 57 Posts	Posted 07/30/2015 09:25 am This is a putrid,treasonist,society. Best to assume everyone is a crook. Report this Post to the Staff
Cascade Pillar of the Community United States 7390 Posts	Posted 07/30/2015 10:42 am Sure does make Roth's look less attractive and a bad choice when compared to a shovel. Report this Post to the Staff
welder Pillar of the Community United States 1037 Posts	Posted 07/30/2015 10:45 am Quote: Hammers home the "if you don't physically hold it, you don't own it" philosophy. Yes it does. Not to mention that people are paying to store their non-existent precious metals. Report this Post to the Staff
coinwatch Pillar of the Community United States 808 Posts	Posted 07/30/2015 11:01 am If the allegations are true, this is the first substantial failure of a private gold secure storage service. At least the first failure of it's kind that I'm aware of. Even if it's being dismissed as simply a regional story, I'm surprised it's not getting more news coverage here in Texas. Report this Post to the Staff
rahtbarg Valued Member United States 258 Posts	Posted 07/30/2015 11:40 am I feel sorry for the people who are going to suffer because of this, but I always take physical possession of any PMs that I buy. I would never buy "paper" gold and silver. I know I'm small-time compared to most of these folks, but if I had the the kind of money to buy large quantities of gold and silver, I would set aside enough money to figure out a way to store it myself. IMHO, of course. Report this Post to the Staff
Northerncoins Pillar of the Community Canada 2019 Posts	Posted 07/30/2015 11:43 am Sadly there are many people still buying a piece of paper that says they "own" gold.... like others have said, if you don't hold it you don't own it. Report this Post to the Staff
Joe2007 Pillar of the Community United States 3843 Posts	Posted 09/09/2015 9:04 pm Downtown Austin vault of precious metals turns up mostly empty http://www.mystatesman.com/news/new...s-up-/nnYS2/ Ouch. Hopefully nobody on CCF was burned by this company. It looks like after this is over the creditors will be lucky if they get 2-3 cents on the dollar for their metal that turned out to be non-existent. The founder of this company, who collected big salaries up until the end should be heading off to prison for defrauding his customers. If anyone thinks that the Tulving scandal was bad, this is ten times worse. Report this Post to the Staff
	Replies: 11 / Views: 3,201

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