Exposing Unallocated and Pool Allocated Problems at the Perth Mint
In February 2021, John Adams was tipped off by various Perth Mint customers that the Mint was struggling to deliver physical silver products – especially for its unallocated and pool-allocated clients.
On 20 March 2021, Adams went public and called out the Perth Mint for defaulting on its contractual obligations.
Within 2 weeks, this single tweet attracted 365,000 impressions world-wide and caused a firestorm in the global precious metals community.
Numerous Perth Mint customer horror stories were exposed which were completely inconsistent with the public assurances of the Perth Mint.
This firestorm led to a global social media discussion about the true nature of unallocated and pool allocated products and the risks they carry.
Adams was able to assist many investors dump their synthetic silver positions and get their hands on actual physical silver!
Defeating the $AUD 10,000 Cash Transaction Ban
One Sunday morning in July 2019, John Adams received a tip-off that the Commonwealth Treasury had dropped late on the previous afternoon a consultation paper and process into criminalising cash transactions above $AUD 10,000 via the Currency (Restrictions on the Use of Cash) Bill 2019.
Within hours, Adams had teamed up with Martin North and Robbie Barwick to unleash a grassroots led social media campaign against the proposed ban. This included rallying thousands of Australians to make submissions during the Treasury consultation and the Federal Parliament Senate inquiry.
During the Senate inquiry, Adams was the only social media/YouTube commentator who was called (in January 2020) to provide public expert testimony.
In December 2020, at the urging of Adams and others, Senator Malcolm Roberts successfully moved a motion removing the legislation from the Senate notice paper and thus killing the legislation.
The freedom to use physical cash in Australia unrestricted had been saved.
Fighting Against Bank Deposit Bail-in
In 2018, John Adams and Martin North teamed up to broadcast a 5 part series on YouTube about bank bail-ins – what they are and the risk of them occurring in Australia, especially in light of legislation which had passed the Federal Parliament.
This 5 part series was followed-up with a number of programs to show that bank bail-ins of retail bank deposits was not foreign to Australia, rather this practice had been implemented during the banking collapse and economic depression of 1892-93.
The bank bail-in campaign (which coincided with other groups such as the Citizen Party) led Senator Malcolm Roberts to introduce the Banking Amendment (Deposits) Bill 2020 in February 2020 which proposed to make a small amendment the Banking Act 1959. This legislation sought to provide absolute clarity that bank bail-ins on retail deposits could not occur in Australia. The proposed legislation triggered a senate inquiry in mid 2020.
As part of this inquiry, Adams wrote the lead 32-page submission which included the legal analysis of experienced commercial solicitor Bob Butler.
Unfortunately, even though the proposed amendment was extremely minor, the Australian Senate voted down Senator Roberts’ proposed legislation.
Fighting for transparency over the RBA’s Gold Holdings
In 2018, John Adams began a series of videos with Martin North questioning the location and safety of the Australian Government’s gold holdings via the Reserve Bank of Australia (RBA). This included asking questions about:
the location of Australia’s physical gold that had been “leased” by the RBA; and
the quality and independence of official RBA gold audits.
At the time that Adams was asking questions, neither the RBA nor any other government institution had published any public information about Australia’s official gold holdings.
The Adams and North videos triggered a wave of public pressure on the RBA from ordinary members of the Australian public.
As result, the RBA created a new public webpage which, for the first time, detailed information about its official gold holdings, including its gold leasing activities.