This is quite incredible, the Australian Perth Mint reduces the purity of the gold it produces to save a bit of money and gets caught!
Why would anyone buy gold when they could buy #bitcoin and self custody?
Try diluting the purity of my #bitcoin, that’s right, you can’t!
Perth Mint sold diluted gold to China, got caught, and tried to cover it up:
https://www.abc.net.au/news/2023-03-06/perth-mint-gold-doping-china-cover-up-four-corners/102048622
That's giga fucked up.
Ha! Gold bugs getting rugged!
They sell 20 billion a year, and did this to save 620k? Unfuckinbelievable xD
The last section of the article is even more mind blowing, Reputation & Trust:
1. The mint was forced to adopt a "corrective action plan" after PNG gold was revealed to have been cut with mercury and mined with the help of child labour.
2. The other headache for the mint is an ongoing investigation by financial crime regulator, AUSTRAC, into its compliance with Australia's anti-money-laundering laws.
Oh and in the same week as this crisis was unfolding behind closed doors at the Perth Mint, it was announced that Mr Hayes would be retiring early due to illness.
Mr Hayes should probably be behind bars and not gold ones!
Not saying this isn’t true but what’s with all the Perth Mint FUD coming out over the last couple of days? 🤔
Undermine trust in gold cause the wheels are coming off fiat or because #bitcoin is orders of magnitude better? 😂
Hey China - send us back that 100 tonnes of gold we sold you so that we can fix a problem with its purity. Don't worry - you can trust us.
We'll give you $8.7 billion in debt coupons while we resolve the issue.
I don't know what's going on here, but I know that every sat I control is 100% pure.
I won't be needing to send them back to the exchange to get fixed.
