a government precious metals purchasing agency

[Indigo Suelo]

The title says it all. That's what I'm in the process of doing right now. I posted in this forum to find potential agents from what could be the best of the best in refiners.
Aside from that let's talk pros and cons of the possibility.
My views are, a state or federal agency that purchases the precious metals in the state or nation would give the sellers, prospector, refiners and assayers a dependable location to sell their metals and ores while stimulating the economy by making the dollar stronger by basing it's value in part on the precious metals and ores that it has purchased. Essentially filling Fort Knox with precious metals instead of the opiods that are currently stored in it.
The amounts that are paid out to the sellers could fund new developments including and not limited to schools, residential locations, museums, manufacturing plants, the list goes on and on but tell me what your views are and if you would like to be a part of this new department.

 

[g_axelsson]

The title says it all. That's what I'm in the process of doing right now. I posted in this forum to find potential agents from what could be the best of the best in refiners.
Aside from that let's talk pros and cons of the possibility.
My views are, a state or federal agency that purchases the precious metals in the state or nation would give the sellers, prospector, refiners and assayers a dependable location to sell their metals and ores while stimulating the economy by making the dollar stronger by basing it's value in part on the precious metals and ores that it has purchased. Essentially filling Fort Knox with precious metals instead of the opiods that are currently stored in it.
The amounts that are paid out to the sellers could fund new developments including and not limited to schools, residential locations, museums, manufacturing plants, the list goes on and on but tell me what your views are and if you would like to be a part of this new department.

Which governmental agency are you affiliated with?

I have a hard time following your reasoning. If the government buys my gold then I get some dollars, should I pay for the schools and museums with my payout?

And going back to a gold backed currency, what would the price of gold need to be to back the dollar alone? In 2011 the worth of all gold ever mined was about 9 trillion dollars.
In 2018 the federal reserve was worth 11 billion while the volume of dollar banknotes in circulation alone were 1460 billion.

https://xkcd.com/980/

Göran

 

[justinhcase]

The title says it all. That's what I'm in the process of doing right now. I posted in this forum to find potential agents from what could be the best of the best in refiners.
Aside from that let's talk pros and cons of the possibility.
My views are, a state or federal agency that purchases the precious metals in the state or nation would give the sellers, prospector, refiners and assayers a dependable location to sell their metals and ores while stimulating the economy by making the dollar stronger by basing it's value in part on the precious metals and ores that it has purchased. Essentially filling Fort Knox with precious metals instead of the opiods that are currently stored in it.
The amounts that are paid out to the sellers could fund new developments including and not limited to schools, residential locations, museums, manufacturing plants, the list goes on and on but tell me what your views are and if you would like to be a part of this new department.

Which governmental agency are you affiliated with?

I have a hard time following your reasoning. If the government buys my gold then I get some dollars, should I pay for the schools and museums with my payout?

And going back to a gold backed currency, what would the price of gold need to be to back the dollar alone? In 2011 the worth of all gold ever mined was about 9 trillion dollars.
In 2018 the federal reserve was worth 11 billion while the volume of dollar banknotes in circulation alone were 1460 billion.

https://xkcd.com/980/

Göran

Word Salad?

 

[Palladium]

Government.........Yep, that's all i needed to hear! :shock: :shock: :shock:

 

[Indigo Suelo]

The title says it all. That's what I'm in the process of doing right now. I posted in this forum to find potential agents from what could be the best of the best in refiners.
Aside from that let's talk pros and cons of the possibility.
My views are, a state or federal agency that purchases the precious metals in the state or nation would give the sellers, prospector, refiners and assayers a dependable location to sell their metals and ores while stimulating the economy by making the dollar stronger by basing it's value in part on the precious metals and ores that it has purchased. Essentially filling Fort Knox with precious metals instead of the opiods that are currently stored in it.
The amounts that are paid out to the sellers could fund new developments including and not limited to schools, residential locations, museums, manufacturing plants, the list goes on and on but tell me what your views are and if you would like to be a part of this new department.

Which governmental agency are you affiliated with?

I have a hard time following your reasoning. If the government buys my gold then I get some dollars, should I pay for the schools and museums with my payout?

And going back to a gold backed currency, what would the price of gold need to be to back the dollar alone? In 2011 the worth of all gold ever mined was about 9 trillion dollars.
In 2018 the federal reserve was worth 11 billion while the volume of dollar banknotes in circulation alone were 1460 billion.

https://xkcd.com/980/

Göran

Goran, hi. I am currently working on the establishment of this agency. My goal is to start at state level and progress to federal.
The development of schools museums and other developments would be done through the private sector or through public donations. The purpose of the agency is to put the funding in the hands of the people who are doing the prospecting and processing etc. In doing this there would be more resources to do these sort of developments and more.
As for the backing of the dollar, it is not to change the current system entirely but to diversify the state and or nations financial portfolio. Thusly strengthening its buying power and currency.

 

[justinhcase]

Dam!
I was really hoping he would come back with a congressional order for the formation of the first governmental body in history allowed to peruse a profit orientated operational code.

 

[Indigo Suelo]

Government.........Yep, that's all i needed to hear! :shock: :shock: :shock:

I know your feelings, but if we don't establish a government agency to do this we leave ourselves at the mercy of the thieves and frauds that currently do these services.
Again I get what you are saying about government influence in private business but when the industry is filled with the liars thieves and frauds such as it is, it then becomes necessary for the government to step in to insure fair trade and practice without discrimination.
That in turn will open more opportunities to those that do these services with a guarantee that a buyer will be there to purchase without defrauding the seller. Essentially eliminating the personal greed and conducting fair trade.

 

[Indigo Suelo]

Dam!
I was really hoping he would come back with a congressional order for the formation of the first governmental body in history allowed to peruse a profit orientated operational code.

Soon. The very purpose of government is to pursue profits, be it through tax or other. That is how the government is funded. Yes it is a fact that government would start wars to generate revenue, this agency would allow the government to generate the needed resources by purchasing the precious metals and ores, giving it the collateral to make other government transactions. think of it as this, even if the government pays you a million dollars for a million dollars of precious metals it didn't actually spend a million dollars because it still has the value of the purchase. This makes the agency a self sustaining organization that would benefit the states or nation that it was associated with.
Further more, the term currency means that there is something of value backing a monetary unit. Being that the US dollar is backed in credit, note credit is not a universal means of value as it is based on personal opinion and varies., it is not as strong as it would be if it had a diversified financial portfolio that included precious metals and ores as well as other natural resources like agriculture and natural gasses etc.
Again not saying to base the entire dollar on these physical valuable items but to base in part.
On a global level this would establish better business practices between nations, as each nation has its own natural resources found within its borders that they would then diversify their respective monetary units or financial portfolio to include these natural resources and thusly improving the global economy.

 

[FrugalRefiner]

Let's not let this thread become political.

That's a broad term; "political".

I'm not against the exchange of ideas on political subjects. I am against them on this forum. It is explicitly against against our rules. The reason is simple. It can be a divisive subject, and we do not want to divide the forum on issues that are not our purpose, which is refining.

Let's keep our discussions on the subjects of recovering and refining precious metals.

Dave

 

[justinhcase]

Dam!
I was really hoping he would come back with a congressional order for the formation of the first governmental body in history allowed to peruse a profit orientated operational code.

Soon. The very purpose of government is to pursue profits, be it through tax or other. That is how the government is funded. Yes it is a fact that government would start wars to generate revenue, this agency would allow the government to generate the needed resources by purchasing the precious metals and ores, giving it the collateral to make other government transactions. think of it as this, even if the government pays you a million dollars for a million dollars of precious metals it didn't actually spend a million dollars because it still has the value of the purchase. This makes the agency a self sustaining organization that would benefit the states or nation that it was associated with.
Further more, the term currency means that there is something of value backing a monetary unit. Being that the US dollar is backed in credit, note credit is not a universal means of value as it is based on personal opinion and varies., it is not as strong as it would be if it had a diversified financial portfolio that included precious metals and ores as well as other natural resources like agriculture and natural gasses etc.
Again not saying to base the entire dollar on these physical valuable items but to base in part.
On a global level this would establish better business practices between nations, as each nation has its own natural resources found within its borders that they would then diversify their respective monetary units or financial portfolio to include these natural resources and thusly improving the global economy.

Well, please get your governmental provision officer to drop me a line.
I have over thirty years experience of translating governmental guidelines into front line action.

 

[Indigo Suelo]

I will most certainly contact you as I progress with this endeavor. I'm sure your years of experience would be a valued asset. Thank you for your response.

 

[markscomp]

Soon. The very purpose of government is to pursue profits, be it through tax or other.

soon.... being the start of the comment ... they will be in your living room, in your garage, in your lab and where ever a free society does not want them to be. To pursue PROFITS.. not sure that is in our constitution ----- maybe I have misread history.

 

[justinhcase]

Soon. The very purpose of government is to pursue profits, be it through tax or other.

soon.... being the start of the comment ... they will be in your living room, in your garage, in your lab and where ever a free society does not want them to be. To pursue PROFITS.. not sure that is in our constitution ----- maybe I have misread history.

Have you any idea what it takes to contract for a governmental body?
It is by no means an easy thing to do.
The more trust that is involved, the higher the bar you have to clear.
I can not recall the last time a new governmental department was formed in the UK, But I think it was during WW2.
Again, an expediently harder thing to achieve than simple employment.
There is also the moral question of a governing body taking part in a commercial venture, controlling law and oversight one might think they would have an unfair economical advantage.
Over here they are privatising even the most essential services, so the likelihood of them trying to enter the refining game would be quite strange.
The governmental assay offices are now offering a testing service where for £10 each item they will certify it is the stated alloy and pay out normal scrap prices. That is an extra £10 for every last ring and chain!LOL.
SO if that is the best they can do, we are not too concerned about them over here.
Maybe he is a congressional senator with a new approach to governmental planning.
Anything is possible but much like an electron we can grade the likelihood of any outcome but never be quite sure where it is until tested, thus affecting the outcome..

 

[Palladium]

Government IS NOT your friend....... PERIOD !

 

[kurtak]

The title says it all. That's what I'm in the process of doing right now. I posted in this forum to find potential agents from what could be the best of the best in refiners.

(#1) Aside from that let's talk pros and cons of the possibility.

There are NO pros to this idea --- it's ALL a CON

(#2) My views are, a state or federal agency that purchases the precious metals in the state or nation would give the sellers, prospector, refiners and assayers a dependable location to sell their metals and ores

So you want GOVERNMENT to CONTROL the price of PMs --- instead of "free market" supply/demand

You have an awful lot of trust in the the government :roll: :roll: :roll:

(#3) while stimulating the economy by making the dollar stronger by basing it's value in part on the precious metals and ores that it has purchased. Essentially filling Fort Knox with precious metals instead of the opiods that are currently stored in it.

That will NOT stimulate the economy - they will CONTROL the price & then they will put it in "their own " pocket for their own greedy purpose's --- when I sell my PMs (on the free market) I then take the money & buy things with it - THAT stimulates the economy

(#4) The amounts that are paid out to the sellers could fund new developments including and not limited to schools, residential locations, museums, manufacturing plants, the list goes on and on

So - not only do you want government to "control" the price of PMs --- but you also want government to CONTROL where & how the money I get is going to have to be spent --- it's MY money - I will spend it where & how I want - including but not limited to throwing a BIG party for my friends & family (if that's what I WANT to do with it)

(#5)but tell me what your views are

Sounds like PURE socialism to me --- "control" of the price I get - & "control" of how/where MY money gets spent :shock:

(#6) and if you would like to be a part of this new department.

Just what we need - another "department" that "controls" our lives --- NOT :roll: :roll: :roll:

Kurt

 

[Auful]

The title says it all. That's what I'm in the process of doing right now. I posted in this forum to find potential agents from what could be the best of the best in refiners.

(#1) Aside from that let's talk pros and cons of the possibility.

There are NO pros to this idea --- it's ALL a CON

(#2) My views are, a state or federal agency that purchases the precious metals in the state or nation would give the sellers, prospector, refiners and assayers a dependable location to sell their metals and ores

So you want GOVERNMENT to CONTROL the price of PMs --- instead of "free market" supply/demand

You have an awful lot of trust in the the government :roll: :roll: :roll:

(#3) while stimulating the economy by making the dollar stronger by basing it's value in part on the precious metals and ores that it has purchased. Essentially filling Fort Knox with precious metals instead of the opiods that are currently stored in it.

That will NOT stimulate the economy - they will CONTROL the price & then they will put it in "their own " pocket for their own greedy purpose's --- when I sell my PMs (on the free market) I then take the money & buy things with it - THAT stimulates the economy

(#4) The amounts that are paid out to the sellers could fund new developments including and not limited to schools, residential locations, museums, manufacturing plants, the list goes on and on

So - not only do you want government to "control" the price of PMs --- but you also want government to CONTROL where & how the money I get is going to have to be spent --- it's MY money - I will spend it where & how I want - including but not limited to throwing a BIG party for my friends & family (if that's what I WANT to do with it)

(#5)but tell me what your views are

Sounds like PURE socialism to me --- "control" of the price I get - & "control" of how/where MY money gets spent :shock:

(#6) and if you would like to be a part of this new department.

Just what we need - another "department" that "controls" our lives --- NOT :roll: :roll: :roll:

Kurt

Kurt, you NAILED IT! My sentiment as well!

 

[justinhcase]

Government IS NOT your friend....... PERIOD !

https://youtu.be/djZkTnJnLR0

 

[Gsracer]

The title says it all. That's what I'm in the process of doing right now. I posted in this forum to find potential agents from what could be the best of the best in refiners.

(#1) Aside from that let's talk pros and cons of the possibility.

There are NO pros to this idea --- it's ALL a CON

(#2) My views are, a state or federal agency that purchases the precious metals in the state or nation would give the sellers, prospector, refiners and assayers a dependable location to sell their metals and ores

So you want GOVERNMENT to CONTROL the price of PMs --- instead of "free market" supply/demand

You have an awful lot of trust in the the government :roll: :roll: :roll:

(#3) while stimulating the economy by making the dollar stronger by basing it's value in part on the precious metals and ores that it has purchased. Essentially filling Fort Knox with precious metals instead of the opiods that are currently stored in it.

That will NOT stimulate the economy - they will CONTROL the price & then they will put it in "their own " pocket for their own greedy purpose's --- when I sell my PMs (on the free market) I then take the money & buy things with it - THAT stimulates the economy

(#4) The amounts that are paid out to the sellers could fund new developments including and not limited to schools, residential locations, museums, manufacturing plants, the list goes on and on

So - not only do you want government to "control" the price of PMs --- but you also want government to CONTROL where & how the money I get is going to have to be spent --- it's MY money - I will spend it where & how I want - including but not limited to throwing a BIG party for my friends & family (if that's what I WANT to do with it)

(#5)but tell me what your views are

Sounds like PURE socialism to me --- "control" of the price I get - & "control" of how/where MY money gets spent :shock:

(#6) and if you would like to be a part of this new department.

Just what we need - another "department" that "controls" our lives --- NOT :roll: :roll: :roll:

Kurt

Kurt, you NAILED IT! My sentiment as well!

My sentiment as well.

 

[Elemental]

I was under the impression that for the United States, the US Mint which is part of the Treasury Department was already responsible for maintaining the bullion supply for the Federal Government. Between Fort Knox, Denver, and West Point they appear to manage, store, and refine gold and precious metals already.

"The West Point Mint is part of the U.S. Bullion Depository system and as of 2019, holds 22% of the United States' gold reserves, or approximately 54 million ounces." Fort Knox maintains 147 million ounces of gold reserves. There is also 43 million ounces at the Mint in Denver, CO. Knowing the government, they are probably have their own sources of precious metals, just as every refiner on this forum has their secret source of raw materials. Perhaps they buy it direct from mines? Maybe the CIA is working their magic? All I know is that I'm fairly new to this, but processing metal in the ten's of thousands of ounces annually looks to be a big endeavor for anyone except for large established refiners.

Also, the Federal and even State budgets rarely do a specific revenue generation method to put funds against something specific. Don't get me wrong, Colorado schools are doing great now that all cannabis taxes go to support just the school system, but from what I've read and discovered, precious metal refining is rarely has a large profit margin (it doesn't for me) and if the government is trying to do this not at a loss (which rarely happens in government), I would expect the funds to go into some general pool.

In regards to prices, I'm sure if the federal government wanted to drop the price of gold, they could just drop a few million ounces onto the market. Just because they have that ability, doesn't mean we want them to control the price of precious metals.

Honestly, if you want to be a part of Government Bullion Management, take a tour of the Mint or check out usajobs.com. They do hire people occasionally, in fact they are looking for a new Deputy Director of the Mint. Here's the link: https://www.usajobs.gov/GetJob/ViewDetails/602569400 Good Luck, SES positions are hard to get!

Anyways, just a few thoughts on the subject. Besides, I've been lurking this forum long enough and re-reading Hoke, so I thought I'd speak up a bit. Now that it's summer, the lab is back open for silver refining. Drop me a PM, if you want to chat.

Elemental

Sources:
https://www.usmint.gov/about/mint-tours-facilities/fort-knox
https://en.wikipedia.org/wiki/West_Point_Mint

 

[Palladium]

I got a vaccine i would like TO PAY you to take or force! Carrot or stick... your choice !
But some dam body is getting a shot !!!! :mrgreen: :mrgreen: :mrgreen: