Justin Sheck
speaker
39 appearances
1 recordings
1 series
first heard Jul 2026
last heard 19 Jul
Justin Sheck’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
So the U.S.
Mint has experts in money laundering, illicit finance.
It's foremost experts work there.
At the refiners of the Royal Canadian Mint, they have people who are experts in tracing gold and in responsible sourcing.
Their importer in Texas has people who they pay to make sure all the gold is clean.
These are experts.
I'm not an expert.
If I could find this using public records and phone calls and a site visit or two, I think the experts could find this.
Well, this is one of the things.
Everyone says you're going to investigate, that they follow the rules, and also says that this is a problem.
So it's a little bit of a contradiction, and it doesn't get at the bigger question of why is this getting into the supply chain?
People just keep passing down their responsibility.
I mean, look, the demand for gold is very high, and the reality of the market is –
That the miner, the guy who's, you know, in his underwear with the mercury in his hands, he's getting paid 90% of the world price for gold.
So between the 90% that guy gets and the 100% that, you know, a big refiner like the Royal Canadian Mint get, there's a small middleman in Colombia and there's the exporter in Colombia and there's the importer in Texas.
So it's such a low margin business.
Even the big refiners have very slim profit margins.
The only way to make more money is to buy and sell more gold.
So while I think a lot of people in the industry want it to get better, the economic reality of how the whole thing is set up incentivizes churning as much gold as possible and spending as little as you can on investigating it.
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