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<p>[QUOTE=&quot;Juan Blanco, post: 1589456, member: 41665&quot;]Well, you have a point - not well elaborated, but still. In this context, the US Mint only produces Gold PRODUCT - of course it&#039;s not refining ore anymore. </p><p><br /></p><p>Like Iran, the US Mint has bought bullion/planchets from foreign sources in recent years; I&#039;m not convinced the Gold is necessarily &quot;all-American Gold&quot; either. Gold Corp. of <i>Australia </i>is reported/reputed to be<i> the sole supplier </i>of .9999 gold planchets for the American Gold Buffalo bullion and the First Spouse coin programs:</p><p><a href="http://www.mineweb.co.za/mineweb/content/en/mineweb-political-economy?oid=108615&amp;sn=Detail&amp;pid=102055" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.mineweb.co.za/mineweb/content/en/mineweb-political-economy?oid=108615&amp;sn=Detail&amp;pid=102055" rel="nofollow">http://www.mineweb.co.za/mineweb/content/en/mineweb-political-economy?oid=108615&amp;sn=Detail&amp;pid=102055</a></p><p><br /></p><p>Other reports declare the Sunshine Minting of Coeur d’Alene, Idaho &quot;the one &amp; only supplier&quot; of AGE planchets. Very oddly, however, their website <i>only </i>mentions Silver (not the exclusive product): </p><p>&quot;We are the primary supplier of silver blanks to the United States Mint...&quot; ? </p><p>The US Mint reportedly spent $3.75 bln for contract PMs in FY 2011; only 1/3rd went to Sunshine Minting ($1.25 Bln) for <u>ALL</u> ASEs and AGEs. </p><p><a href="http://www.bullionstreet.com/news/us-mint-buys-more-goldsilver-from-sunshine/348" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.bullionstreet.com/news/us-mint-buys-more-goldsilver-from-sunshine/348" rel="nofollow">http://www.bullionstreet.com/news/us-mint-buys-more-goldsilver-from-sunshine/348</a></p><p><br /></p><p>In 2011, the US Mint must have been producing coin with stockpiles and/or foreign sources. In 2011 the US Mint produced (American Eagle 1oz coins) 910,000 ozt; @ 1,488 (avg Monthly Spot, FY 2011, London Spot) that&#039;s an expense of $1.354 Bln right there! </p><p><br /></p><p>Where can someone see <i>where Sunshine Minting sources it&#039;s Gold</i>? Or what percentage of ASE were from Sunshine Ag planchets? If Solyndra ($550 mln contract) was such a &quot;big deal&quot; why no transparency with the &quot;US Gold&quot; racket? (Not that I personally care where the Gold comes from - just that we shouldn&#039;t lie about it.) I suspect the US source reg has been dodged, by the numbers.</p><p><br /></p><p>It&#039;s well-known the USA exported Gold-scrap to Turkey <i>and </i>imported refined ingot. One example, little Rhode Island currently exports ~ $50-$100 million in Gold to Turkey each year: <a href="http://www.census.gov/foreign-trade/statistics/state/data/ri.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.census.gov/foreign-trade/statistics/state/data/ri.html" rel="nofollow">http://www.census.gov/foreign-trade/statistics/state/data/ri.html</a> </p><p><b><br /></b></p><p><b>How ironic: your granny&#039;s &#039;junk Gold&#039; sold @ $0.40 on the $1. &gt;&gt; Cash4Gold scammers, @ melt &gt;&gt; Turkish Gold refineries @ mkt? &gt;&gt; Islamic Republic of Iran! </b></p><p><b><br /></b></p><p><b></b>Once upon a time, &#039;60 Minutes&#039; and other investogative journalists would track this sort of circuitous trade. Now? Meh, it&#039;s too complicated and piffle compared to other grifts. </p><p><br /></p><p><br /></p><p>The US Senate obviously doesn&#039;t aggree. </p><p><br /></p><p>As for doubting it&#039;s &#039;huge numbers&#039; - well, again: it&#039;s 12x the US Mint&#039;s Gold Product! Yet you insist that amount of Gold is a trifle, &#039;8 million ounces is just &gt;8 million ounces&#039; ... no big deal! </p><p>By this &#039;logic&#039;, likewise, had US Mint NOT minted 7,953,000 ozt over the last 12 years the global bullion market wouldn&#039;t have moved/cared either. </p><p><br /></p><p>Is US retail supply/demand really superfluous, irrelevant to POG? The bald &amp; confident assertion it has NO EFFECT whatsover is, I think, highly suspect. Certainly, US bullionists would have flipped out! And - I&#039;ll predict, here - <i>when US retail is finally denied access to US Gold coin </i>then POG priced in USD$ will go parabolic.</p><p><br /></p><p>I can&#039;t say what effect US retail demand has on POG, but I doubt it&#039;s nil. And surging bullion demand from an oil-rich nation prepared to go to war with the USA/Israel over nukes? LOL That&#039;s nothing to ignore, either.[/QUOTE]</p><p><br /></p>

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