Alright everybody, I do apologize for the length of time that has passed since my last updates, however the asset has mostly been laying dormant since the proposed transfer to Usagi. I will be providing tons of updates, as to the contract, operations, and just general what is going on at this point in this thread, so please bare with me, as I get more information ready.
I will be modifying the Original Post, so I will quote it in its entirety here, so that I and others will be able to look back on it, as I make changes.
The Official thread will be on the Litecointalk thread that I have listed, but I will try to keep both the BTC and LTCtalk posts up to date
http://forum.litecoin.net/index.php/topic,616.0.htmlhttps://i.imgur.com/w6Xrx.pngI also registered the domain
www.litecoinsilver.com which I will be using as the Asset site, but I am still in the process of setting that up.
Anyway, below is the official Asset Statement, if you don't want to read it right now, you can scroll down to my next bolded message where I will give a briefer version.My Goal is to increase the liquidity of Litecoins, by allowing the free and
simple trade between Litecoins and Physical Silver without all of the hassle and
added cost of continuous shipping.
OVERVIEW:
By investing in LTC-SILVER you are investing your Litecoins into Physical
Silver. Various forms of Silver Bullion will be obtained by the operator
(myself) ranging in brand, size, and form, but all silver is guaranteed to be at
least .999 Fine silver. The amount of shares in circulation at any time will
only reflect the amount of silver I have held physically in grams at any given
moment. One share is and will always be equal to one gram of physical silver.
WITHDRAW OPTION AND SHIPPING:
With the option to trade your silver shares back and forth for LTC, I will also
have a withdraw option, should you decide you want your shares of physical
silver mailed to you. To do this, please send me a message and I will give
further instruction. How this will work, is after you request your silver to be
mailed, I will ask that you transfer the share equivalent of how much you want
mailed back to the Asset Account. I will require that you pay the amount of
shares you want to receive in silver plus one additional share for handling. I
will also require that you pay the shipping expense, which we will calculate
upon request, but I should be able to give a generic rate for inside of the U.S
after a few shipments. Payment for shipping will be accepted in Silver Shares,
Litecoins, Bitcoins, BTC-E Code, and Paypal.
You will be responsible for the cost of all shipping features you desire, be it
insurance, or the use of another shipping company. (ie UPS or Fedex)
EDIT I will be cutting the no minimum withdraw from fund amount. People are hassling me to buy 1 gram pretty bars, but don't want to pay anything over spot for them, when in reality, they are going to cost me 300% of what I'm going to be selling them for. That just doesn't work well. So instead, I will be changing the minimum withdraw from fund amount to 1 Oz, and you may withdraw in any 1 Oz increments. This is still a fairly small amount, but it makes it so much more convenient for both parties. All policies regarding withdrawal and everything else will remain the same.
SHIPPING CONT.:
I will guarantee that all silver withdraws requested will ship out on my end,
and I will provide tracking via USPS at no additional cost, with paid cost of
shipping. However, although rare, the postal service can lose your packages. I
am not liable for post office mistakes, and it is your responsibility to request
appropriate insurance if you feel necessary. It is also your responsibility to
check all of your country's laws about silver importation. I will be shipping
from the U.S, so please look into local laws, and be prepared to pay any
applicable taxes or fees imposed by your country at customs should they decide fit.
THE (not so small print):
If for any reason I am unable to continue my obligations here, I reserve the
right to shut down operation. In that case, the first option available will be
to receive your Physical Silver via the mail. The above shipping terms still
apply, but the 1 share handling fee will be waived in this case. For those that
do not want to receive their Physical Silver, I will liquidate the remaining
silver on the LTC/BTC forums and pay out your share value at current Silver
market value.
All of that being said, just remember, your stock value does not have some
arbitrary value determined by LTC difficulty, how lucky you are to find blocks,
or how long you can profit from a ponzi before it collapses. Your investment is
100% backed by Silver. In theory, your stock value should never be worth less
than its weight in Silver. Of course, silver has its own price fluctuation up
and down, but it is your duty to make your own informed decision as to whether
or not this is an investment that suits your needs. I recommend you do some
research into Silver economics, look at the price trends, and decide for
yourself whether Silver is the best choice for you right now.
Condensed version it is 
Ok, so the asset that I have just submitted for approval via
https://www.litecoinglobal.com/ is LTC-SILVER
This is a silver mutual fund, operated and managed by myself, in which anyone who wishes to invest may buy shares in a Silver fund that I will be establishing, with each share being worth 1 Physical gram of silver. I will buy .999 Silver bullion, mostly coming from the BTC/LTC forums, and will first take pictures to prove the total asset amount, and will then release an equal amount of shares to how many total grams of silver are in the fund. The silver will then be placed in a very large and secure gun vault, and locked away until updates are needed. I have already talked to a few members of the Bitcoin and Litecoin communities that have been known to sell a bit of silver, and I am currently in the process of buying up a few troy ounces of silver to get this investment started! Another feature that this investment has, is the choice to physically withdraw from the Silver asset. In this case, I will send you your physical silver in the mail, of course I will require that you pay shipping, and there is a small fee, but that is listed in the shipping terms above. The best part being, since there will never be more or less shares owned and on the market than I currently have in the vault, everyone could withdraw at once if they really wanted, and no one would have to wait, and there would be no ponzi collapse. Although, I will mention, your best deal is to just own the silver shares, and not have them physically shipped. The whole idea of this asset is to give a liquid Silver:LTC asset, where you don't have to deal with your own country's taxes (VAT to be specific) and you don't have to deal with the shipping cost.
Anyway, if anyone has any questions, please feel free to ask.
IMPORTANT ANNOUNCEMENT! the LTC-SILVER Asset has just been given the most coveted award known to Crypto kind! It is Franky1 Approved!!! For any of you that don't know, franky1 is the Crypto user with the most suspicions about any any business or asset, whether it be someone selling cars for BTC, or someone selling American Candies in the UK, they are all scams in Franky's book. Well, LTC-SILVER is the first asset/business to receive the thumbs up from Franky1 himself!!! YAY
