I admire you help investors see the vulnerabilities. I think your solution is very well thought out.
What else am I going to do with them, exploit them?
And it's not an original solution. I came across it first here:
Quote from: http://www.bullionvault.com/help/?FAQs/FAQs_vaulting.html#Can%20you%20prove%20my%20bullion%20is%20there
Can you prove my bullion is in the vault ?
Yes. Our vault operators send us bar lists evidencing what they hold in the vault for BullionVault. These lists detail the individual bars in our section of the vaults, and their assayed gold or silver content.
Every business day we publish these bar lists on the BullionVault website, and we also publish our custody lists daily - but with alias names which users can recognise for themselves while they remain completely useless and meaningless to everyone else.
You can see your own holding, check our totals, and cross check the custody list totals directly to the bar lists. All this is on the publicly accessible 'DAILY AUDIT' page. You can view it right now. Click here for details of the procedure.
Yes. Our vault operators send us bar lists evidencing what they hold in the vault for BullionVault. These lists detail the individual bars in our section of the vaults, and their assayed gold or silver content.
Every business day we publish these bar lists on the BullionVault website, and we also publish our custody lists daily - but with alias names which users can recognise for themselves while they remain completely useless and meaningless to everyone else.
You can see your own holding, check our totals, and cross check the custody list totals directly to the bar lists. All this is on the publicly accessible 'DAILY AUDIT' page. You can view it right now. Click here for details of the procedure.
So the cold wallet is the 'bar list' and the (soon to be published) list of 'base amounts' is the 'custody list'.