Tungsten-Filled Fake Gold Bars Update

[alan2102]

Fort Knox gold bars: tungsten-filled?

Warning: still UNCONFIRMED.  But interesting as hell, with to me
the "ring of probable truth" (even though I cannot prove it).

Isn't the hollowing-out of gold bars, filling with base metal, a great
metaphor for the hollowing-out of moral character in the U.S.?

We've been working on reverse alchemy: the transmutation of gold
(or golden qualities of character) into lead (or leaden qualities of
character).  Or a reversal of the ancient dictum: esse quam videri --
to BE rather than to SEEM.

The significance of gold goes beyond anything to do with mundane
material wealth.  It is mythically or archetypally resonant with noble
qualities of character.  Whether or not those qualities "rub off" on a
given possessor of physical metal is up to him or her. Possession of
a symbol does not guarantee the internalization and realization of
the thing symbolized.

http://www.marketoracle.co.uk/Article14996.html   

Gld ETF Warning, Tungsten Filled Fake Gold Bars

Commodities / Gold & Silver 2009 Nov 12, 2009 - 12:22 PM

By: Rob_Kirby

“Gold Finger - A New Take On Operation Grand Slam With A Tungsten Twist”

snip

there are now more sordid details to report.
When the news of tungsten “salted” gold bars in Hong Kong first surfaced, many people
who I am acquainted with automatically assumed that these bars were manufactured in
China – because China is generally viewed as “the knock-off capital of the world”.

Here’s what I now understand really happened:
The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].
This was apparently all highly orchestrated by an extremely well financed criminal operation.
Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.

And here’s what the Chinese allegedly uncovered:

Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes].  Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day.  I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.

snip

In light of what has occurred – regarding the Gold ETF, GLD – after reviewing their prospectus yet again, it becomes pretty clear that GLD was established to purposefully deflect investment dollars away from legitimate gold pursuits and to create a stealth, cesspool / catch-all, slush-fund and a likely destination for many of these “salted tungsten bars” where they would never see the light of day – hidden behind the following legalese “shield” from the law

[rbrgs]

Wow.  Just, wow.

[JeffreyET]

Believe it or not, there was a time - not too long ago - when I wouldn't have believed it.
Better start scratching B4 buying.

[jmhpolar]

Well they've got to do something with all the leftover tungsten replaced by depleted uranium in AP rounds.

[john940]

how funny, so in fort knox, america's main gold vault which backs our currency (theoretically) there sits a large amount of fake gold. man, if there was another  reason to devalue the US dollar this would be another nail in the coffin.

this is news the world would love to get a hold of and use against us.

thats a good story for a friday!

[cygnus]

Yeah, I agree - just, wow.   

[Hogie2010]

Amazing story and I believe the source. I listen to Rob Kirby at the Contrary Investor, him as well as Jim Willie.

http://www.contraryinvestorscafe.com/guest_editorials.php?id=62233

[Pidgey]

Dissenting opinion as to the veracity, but might be denial, of course:

http://news.goldseek.com/GoldIsMoney/1256104980.php

I'm REALLY interested in seeing how this turns out.  If true, China'd probably be mad enough to do some REALl damage...

[Pidgey]

Google searching:

http://www.abovetopsecret.com/forum/thread441891/pg1

[Jonathan_Byron]

The rumor doesn't even agree with itself - on one hand, it says that the Chinese took the culprits into custody within a few hours, and then it blames it on the actions of a US company 15 years ago. 

While fake gold is a real possibility (the potential profits create a huge motive), at this point, it is a rumor.

[Pidgey]

Another discussion forum talking about it today:

http://www.itulip.com/forums/showthread.php?t=12953

[Zappalives]

Fake gold..............why not?

Most everything is FAKE in my country now anyway!

If this is true.........it is high treason!

[Pidgey]

Fake "male enhancement drugs"... fake boobs...

...what's real anymore?

[vision-master]

Remember fools gold?

[Hendrek]

As a completely unrelated sidenote, I recently chose to get a tungsten carbide wedding band, instead of a gold wedding band...