Posted 12/17/2010 10:45 am
From the law
There is only one producer of palladium in the United States and they only produce 450K oz of palladium per year. So this law mandates the government to buy up one companies entire production. Talk about a law designed to benefit a single entity. Then lets add one more twist. That single producer of US palladium is owned by a Russian company.
Quote:
The legislation states that the Secretary of the Treasury shall acquire the palladium used for the coins through the purchase of palladium mined from natural deposits in the United States within one year after the month in which it was mined. However, the palladium may be sourced from other available sources if this is not feasible or if no such palladium exists.
The legislation states that the Secretary of the Treasury shall acquire the palladium used for the coins through the purchase of palladium mined from natural deposits in the United States within one year after the month in which it was mined. However, the palladium may be sourced from other available sources if this is not feasible or if no such palladium exists.
There is only one producer of palladium in the United States and they only produce 450K oz of palladium per year. So this law mandates the government to buy up one companies entire production. Talk about a law designed to benefit a single entity. Then lets add one more twist. That single producer of US palladium is owned by a Russian company.
