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Keith Weiner
Keith Weiner is CEO of Monetary Metals, a precious metals fund company in Scottsdale, Arizona. He is a leading authority in the areas of gold, money, and credit and has made important contributions to the development of trading techniques founded upon the analysis of bid-ask spreads. He is founder of DiamondWare, a software company sold to Nortel in 2008, and he currently serves as president of the Gold Standard Institute USA. Weiner attended university at Rensselaer Polytechnic Institute, and earned his PhD at the New Austrian School of Economics. He blogs about gold and the dollar, and his articles appear on Zero Hedge, Kitco, and other leading sites. As a leading authority and advocate for rational monetary policy, he has appeared on financial television, The Peter Schiff Show and as a speaker at FreedomFest. He lives with his wife near Phoenix, Arizona.
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Monetary Metals Leases Gold to Quantum Metal
11 Feb 2019

Malaysia’s leading gold distributor saves money with a Monetary Metals lease

Scottsdale, Ariz, February 8, 2019—Monetary Metals® announces that it has leased gold to Quantum Metal, to support the growth of its business of selling gold through retail banks. Investors earn 4.5% on their gold, which is held as Perth Mint minted gold bars in inventory.
Monetary Metals has a disruptive model, leasing gold from investors who own it and subleasing it to businesses who need it, typically for inventory or work-in-progress. Gold owners benefit, because they earn a return rather than pay storage costs. Gold-using businesses benefit, as the lease is the lowest-cost money in their capital structure. And the lease is more user-friendly, being off balance sheet with no need to be hedged.
Monetary Metals provides a fair rate of return to both investors and businesses by conducting a competitive auction. Each investor decides how much gold to offer, and the minimum interest rate. The rate-setting auction phase finds the rate that will raise enough metal for the total business need, 4.5% in this lease. This graph shows the offers, and 250% oversubscription. The second phase, the call for gold, was over 400% oversubscribed.
 
“Quantum Metal is the biggest gold bullion distributor in Malaysia. It has a need for a considerable amount of gold,” said Keith Weiner, CEO of Monetary Metals. He added, “This deal is the first tranche.”
“Pending an imminent listing, we sought the help of Monetary Metals, as finance partners, to procure our gold lease requirements. Monetary Metals were very quick to assist and understood our business,” said De Wet Combrink, CEO of Quantum Metal.

Disclaimer: The above views are the opinions of the author or his/her company and do not represent the views of Quamnet.
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