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A polite discussion of the danger of unallocated pool accounts in silver
9:15p ET Wednesday, April 7, 2021
Dear Friend of GATA and Gold:
In an interview with Daniela Cambone of Stansberry Research today, fund manager Vince Lanci of EchoBay Partners in Stamford, Connecticut, politely discusses the vulnerability of the fractional-reserve silver banking system.
... Dispatch continues below ...
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Asante Gold C$5 Million Placement Is Oversubscribed
and Another C$2 Million Is Accepted;
Drilling Finds 7.47 g/t Gold over 30 Meters
Company Announcement
Monday, March 22, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE, Frankfurt: 1A9, U.S. OTC:ASGOF) announces that assays have been received for the first hole of a three-hole geotechnical drill program at our Kubi Gold project in Ghana.
DDHK21-001 was collared approximately 100 meters to the north of the Kubi Pit, near the middle of the 1Kubi Main Mineral Resource. On this section gold mineralization has been previously outlined to a depth of 450 meters. The gold is free milling and occurs within a near vertical 1-kilometer by 1-meter to 15-meter-thick shear-bounded "garnet" zone.
Gold is associated with up to 30% garnet and 15% sulfide mineralization and as coarse gold in late quartz veins.
The drilling has confirmed typical Kubi Main Zone gold mineralization.
-- 30 meters grading 7.47 g/t gold (true width estimated at 7.5 meters), including:
-- 14.31 g/t over 10 meters.
-- 5.69 g/t over 9.0 meters.
-- 10.75 g/t over 16 meters.
Given the presence of visible gold and the numerous high assays received, samples have been resubmitted for screened metallics assays, which give more exact results when coarse gold is present. Further results will be announced as received. ...
... For the remainder of the announcement:
https://www.asantegold.com/news/cad-5-million-placement-oversubscribed-a...
Lanci says plainly that he does not believe that all silver claims on unallocated pool accounts offered by mints and bullion dealers are fully backed by readily available metal.
Of course nearly everything in gold and silver long has been operated on a fractional-reserve basis, in confidence that huge imaginary supplies of the monetary metals forever could be contrived for price-suppression purposes underwritten by governments and central banks. This was perceived as early as 2001 by the British economist Peter Warburton in his groundbreaking essay, "The Debasement of World Currency: It Is Inflation But Not as We Know It":
Lanci's interview with Cambone is 13 minutes long and can be seen at YouTube here:
https://www.youtube.com/watch?v=3silAZRu-YU
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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