i really doubt if the buyer of vincent can pay for the 500 metric tons involved in the testbuy
(assuming there exist a 500 metric ton of gold)
imagine this computation:
given: 1 ton = 1,000 kilos
500 tons = 500,000 kilos
1 kilo = 32.15 troy ounce
500,000 kilos = 16,075,000 troy ounce
1 us dollars= 44 pesos (conversion rate)
computation for the 500 metric tons
500,000 kilos
x 32.15 troy ounce
16,075,000 troy ounce
x 1,629.75 us dollars (LMER gold price for June 15, 2012)
26,198,231,250.00 (26.198 billion us dollars)- gross proceeds in us dollars
x 44 pesos
1,152,722,175,000.00 (1.152 trillion pesos )- gross proceeds in pesos
x 70% seller's share (assuming it is 70%, net of 20% buyer's discount and 10% share of brokers/intermediaries)
806,905,522,500.00 (806.9 billion pesos)- net share of seller/owner
POINT OF OBSERVATION:
1. if the buyer will have to pay for the 806.9 billion pesos , where will the money come from? will he be able to pay the seller during the same transaction day? can he pay the seller in pesos and in the Philippines?
2. if the buyer will tell you he can pay for the 806.9 billion pesos during the same transaction day, in pesos and in the Philippines, for sure, he cannot get that big amount of money from the present money in circulation.
If he will tell you that his money will come from abroad, he cannot also infuse that money into the Philippine Financial system without being questioned by AMLA and the world governing body on money laundering. Im sure that the Central Bank will not permit the sudden infusion of 26Billion Us dollars into the Philippine financial system without a legitimate market transaction because by doing so, our Philippine economy will collapse ( you better ask the economist for more details).
3. if the buyer will tell you that the seller will get paid only in a few days time, that is a big problem for obvious reasons.
I think vincent owes all of us some explanation.
