KITCO Metals Just Got Busted by Quebec Government

Discussion in 'Money, Investing & Precious Metals' started by IrritatedWithUS, Jun 11, 2011.

  1. IrritatedWithUS

    IrritatedWithUS Well-Known Member

    They just got busted today for a major tax scheme involving fake accounts, illegal taxing on .999 metals, and fake paper shares. They got caught using fake serial numbers on paper for "real metal in a vault" in the shares. On further investigating the matter, it gets deeper.

    Revenue Quebec and police investigators this week conducted searches and seizures at 70 locations, mostly in the Montreal area. One of the targeted sites was the downtown Montreal location of Kitco, a major buyer and seller of gold. A note on the floor of its office on Thursday said that “operational constraints” had forced the service counter to close this week." It is unclear if this alleged tax fraud bust means Kitco could be out of business shortly

    Here is the link from Zero Hedge. Also got an email from a mint owner and friend Jason Hummel on the issue.

    Kitco Charged With Massive Tax Fraud Scheme, Business Viability In Question | zero hedge


    My tips:

    Bury your treasure in the boonies in several places. Get a GPS that display longitude, latitude, altitude [to about 1 foot ~ 1 meter precision], and record in several private places --- as a series of phone numbers or in some other non-geographical-location format form --- where your stashes are.

    Once you have your goodies stashed securely far, far away... get some fake brass-alloy gold coins (they are available), put them in a tube made for keeping gold coins, and hide them somewhere secure in your home. If determined thieves burgler your home, they'll leave satisfied when they find it (and hopefully get busted at the coin store when they try to pass it as gold). Or if you get in the "I'll shoot you in the head" scenario, just go get it and give it to them.

    PS: Only one side of these fake coins says "copy" on it (which might not mean anything to most thieves anyway, if they even bother to read that carefully). So put that side toward the center of the tube from both ends. Alternatively, get a machinest friend (or pay) to mill that marking off your coins. Make sure they don't do too good a job (leave a slight rectangular depression), because you don't want anyone selling them to anyone as real gold. To be sure, any coin store will recognize the milled rectangles for exactly what they are.
  2. audioguru76

    audioguru76 Member

    niiiiice.. the ole switcharooo!

  3. CulexPipiens

    CulexPipiens Still waiting for the zombies.

    Any chance of reading more into this? Perhaps... that the government may be using baseless charges to either scare people away from them (or PMs in general)? or to (eventually) rule against them and confiscate all the metals?

    This might warrant watching to see if any other PM places get "caught" by their local govs.

    Or maybe my tinfoil cap is acting up again. :)
  4. IrritatedWithUS

    IrritatedWithUS Well-Known Member

    That was my first thought, too. If another company goes down, that's it.

    Did you read and hear about Cedar Falls? The local government passed an ordinance that requires ALL CITIZENS who own rentals, rent-to-own, apartment, and some other properties to GIVE UP THEIR KEYS to their places and put them in a lockbox for the city to have. In case of "emergencies" and "for protection".
    [ame=]YouTube - ‪City Government demands all keys to properties belonging to Cedar Falls residents.‬‏[/ame]

    S already HTF.
  5. power

    power ExCommunicated

    According to their web site they have problems because of a Canadian postal strike.
  6. goodoleboy8205

    goodoleboy8205 Member

    Dont sweat it. I work commercial construction and it is national fire code that all commercial buildings have what is called a "Knox Box" It is so the fire dept can get in in case of fire. Most commercial buildings have heavier than you house doors. these doors you dont chop through with a ax. So the code calls for all commercial buildings. this includes any building that you make money off of.
    while Im not in favor of big brother getting too involved in my life. This is a matter of life safety. And to me life safety superceeds all else.
    A knox box is built like a mini wall safe so there isnt much danger of someone tampering with it to get your keys. Just look at it as leaving a key under the mat with a twist.
  7. TheAnt

    TheAnt Aesops Ant (not Aunt)

    Be careful with this sentiment, "They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety."