Tungsten-Filled Fake Gold Bars Update

[J.A.F.O.]

Here is an interesting link found on George Ure's site...

http://www.prisonplanet.com/the-rumor-about-london-good-delivery-gold-bars-that-are-allegedly-filled-with-tungsten.html

The gist of the article is that there is no sure fire way (other than drilling or melting) to determine the core of the gold bar.
So, the author states that it is impossible for a Good Delivery gold bar to be counterfit because of the history of the bar coming from "trusted" foundries.. Plus the Good delivery bars must be kept in trusted institutions. If the gold bar is held by a private owner,, it is no longer "guaranteed". In other words, shut up and believe what you are told...

Read the comments that follow the article..... 

The article is something of a gold herring..   the Before It's News story that we've been discussing does not lay blame on BullionVault, Good Delivery or the London Bullion Market Association (LBMA). The LBMA is only mentioned as a standard in the Before It's News story...  The alleged US source of the counterfeit bars is not mentioned once..   this is a straw man argument..  invent a story that was never actually claimed, disprove it, then claim that disproves the original allegation.

[wiccawench]

http://beforeitsnews.com/story/0000000000000499

Capella is correct.

No, actually, that linked article is dated 11/16/09 and basically quotes the Rob Kirby piece that started this thread.  So it's not new news or independent confirmation.  

I was referring to the point she made about preps Shamanesse...

if you notice i am still on the fence about this allegation.

well if it is so simple to test as a sound test or ultrasound........

makes you wonder why it is ONLY coming to light NOW!

I must admit this is definitely an interesting unexpected development......

not sure where it is going to lead..... would like to see some more evidence.

so yes waiting to find/hear more about it.

[Shamaness]

Gotcha, Redreamer.  Sorry for the misunderstanding...I'm with you.   

[Broil]

Is anyone else getting hungry from reading the title of this thread?  I have such a strong craving for candy bars this time of year.  I know metallic bars aren't quite the same thing, but they sound delicious.

[rbrgs]

Up next, DU.....

[cabacaba]

Here is an interesting read.... 

http://www.stevequayle.com/News.alert/09_Money/091119.gold.market.breakdown.html

[PseudoPhil]

Here is an interesting read.... 

http://www.stevequayle.com/News.alert/09_Money/091119.gold.market.breakdown.html

Here's the original article, with links intact:

http://www.financialsense.com/fsu/editorials/willie/2009/1118.html

[J.A.F.O.]

Finally.. a few details emerging.

The initial discovery was something like four gold bars, which the Hong Kong bankers drilled invasively to test the contents. Reminds me of drilling the earth and measuring how many grams of gold per tonne. The HK bankers hoped to have 99% gold yield in their drill program for the resident bars. They found something like 1% instead and 99% tungsten. By the way, tungsten sells for less than $70 per ton, which makes its swaps for gold to be 60x more profitable than silver bar swaps. Another handy usage for the Gold/Silver ratio in calculations. The hunt was on. Now not a single assayer on the planet is available, as all are tied up. They have been commissioned to test the gold bars shipped from the United States of Fraudulent Banker America in their own bullion vaults. They use basic methods of four drill holes with direct assay of shavings, but also less invasive methods like electro-magnetic waves to examine the metal lattice structure. When highest level methods are needed, they turn to mass spectrometry. NOW ALMOST NO GOLD BARS WILL LEAVE THE LONDON OR NEW YORK METALS EXCHANGES WITHOUT SOME AUTHENTICATION, AS DISTRUST IS WIDESPREAD.

Ok.. now this is making more sense.. 


An article linked to in the above article..
http://www.financialsense.com/fsu/editorials/kirby/2009/1112.html
So this is why the LBMA, Good Delivery and BullionVault folks have got their diapers in a twist..

When this all blows up, America will be a pariah in the international economy..  and well on the way to becoming a 3rd world country..

[PseudoPhil]

When the dust settles, I wonder how much one of these will be worth:

[Broil]

Not much AS the dust is settling, but quite a lot AFTER the dust has settled.

[alan2102]

From Jim Willie's latest:

http://news.goldseek.com/GoldenJackass/1259100000.php

Gold & Mount St. Helens

By: Jim Willie CB, GoldenJackass.com

-- Posted Tuesday, 24 November 2009

snip

BREAKDOWNS LEAD TO GOLD PRICE ADVANCE

The most recent development is clearly the exposure of the tungsten gold bars. Some extremely naive analysts and editors alike will be the last to know what is happening, as they deny the story. One editor has a military intelligence background, which accounts for myopia. He also shows only disrespect for the Gold Anti-Trust Action committee (GATA). Their charges of USGovt conspiracy to fix and suppress the gold price have been admitted by Greenspan himself. Cannot the naysayers see the pattern of fraudulent money, fraudulent coins (ok, so pre-1964 silver was copper core -- my bad), fraudulent Fannie Mae bonds, fraudulent mortgage backed bonds, fraudulent municipal bonds, counterfeited USTreasury Bonds, naked shorting of bank stocks, flash trading (the Goldman Sachs front running of NYSE), and constant Plunge Protection Team interventions? The natural climax is tungsten bars given a gold plating. Leave following the trails to others, but one could guess they match the narco pathways.

Anyone who steps forward with actual data, evidence, documents, and hard facts worthy of investigation and high level prosecution is subject to being murdered. So the way this plays out is more likely to be a cratering, a dismantling, a breakdown in the gold metals exchange. The weak link, as claimed by both GATA and hard charging analysts like Jim Sinclair with Dan Norcini, is the lack of physical gold. The metals exchanges have been running a criminal shell game for years. They do not require collateral properly placed, like 80% on short sales. In London they are digging from the 50 and 60 year old barrels to produce gold bars for delivery. In London they are hastily seeking gold bars from the Bank of England and European Union central banks in order to avert delivery defaults. The strain was evident last spring when Deutsche Bank was caught without sufficient gold, rescued by the Euro Central Bank in the nick of time. The strain was repeated in early October when London borrowed central bank gold bullion in the nick of time. Word has it that all delivery demands were met, and all were from Asia, predominantly from China. The strain will repeat by the end of this November month. The strain will again reach critical levels in March, and if the system holds together after the upcoming demands for gold delivery are handled, or not managed, whatever, we will see events reaching climax next March and the spring months heading into June.

Review some indirect evidence serving as confirmation of the tungsten gold bar story. This is inductive reasoning, at the basic level. The London and New York metals exchanges cannot complete delivery of any order over one metric tonne without fresh assay reports. Trust has been shattered. This was never required before, but is now. Why is that? Could it be that Hong Kong's revelation of four tungsten bars (fake gold) was true, verified, and spread via a global alert? Yes, clearly! Assayers the world over are unavailable. They are all tied up as bullion bankers, sovereign wealth fund managers, lesser central banks, and individual billionaires are scrambling to verify their gold holdings. The assayers were entirely available two months ago, but not now. Why is that? Could it be that Hong Kong's revelation of four tungsten bars (fake gold) were true, verified, and spread via a global alert? Yes, clearly!

The Canadian Mint has released information that admits to 17.5 thousand troy ounces of gold and other precious metals missing, whose estimated value is $15.3 million. No credible explanation has been offered for the missing inventory. These are not lamps, boxes of paper, crates of machine tools, floor tile, stereo sets, or power tools sitting in inventory. These are gold bars. Or were they tungsten bars? Permit the Jackass to surmise that the Canadian Mint were interrupted in their coin production process. They poured what they thought were gold bars into a cauldron, but since tungsten melts at 8000 degrees, and gold melts at 2200 degrees, the cauldron soup was lumpy with tungsten cheese. Instead of admitting they held and discovered 17.5 thousand ounces of tungsten, sure to rile the Wall Street boys, sure to turn the gold market upside down more than already, sure to invite severe scrutiny to many bankers who already face criticism (but not prosecution) over mortgage bond fraud, THEY JUST SAY IT IS MISSING !!!  Just where did it go, Ottawa?  Did some high level bankers (surely not Goldman Sachs) borrow it or steal it? Maybe it went to an industrial supplier that specializes in zinc, tin, copper, lead, and tungsten!!! See the National Post article (CLICK HERE). It seems the B.S. story of lost gold invites the least criticism, scrutiny, and follow through, amazingly. Theft and fraud is rampant, and the name of the game. Of course, incompetence, and clumsiness are more acceptable than corruption and collusion.

The end result of all the extra authentication processes, the absence of available assayers. the missing gold at mints, and the scattered reports of tungsten gold that have this week extended to at least on European bank location in addition to Hong Kong, is less actual verifiable gold bullion in the hands of people that trade it. In other words, THE GOLD SHORTAGE IS MORE REVEALED AND EXPOSED. Notice lastly, the no Hong Kong banker denied the story of discovering tungsten bars with gold plating. Instead, the story proliferated to a global examining of gold inventory. Notice also that no Depositor bullion bank invited investigators inside for a closer look at inventory, after doubt and lost confidence within the system occurred. These are all tell-tale coincident signs, indirect evidence in support of the tungsten salted bars and the entire story. One has to be with a military intelligence background not to see it.

GOLD EXPLOSION COMING

Gold continues to log new highs. The market forces are powerful. The corrupt cords are being severed. The bottom of the barrels are being scoured for physical gold. Investors and investment firms want some real assets instead of mountains of paper assets. Paper piles are burning. A gold price explosion is coming. They cannot stop the gold locomotive.

snip

........... rest of article is fun, too.

[alan2102]

One more snippet, same article:

The financial news networks have begun to openly wonder about the Dollar-Stock relationship and its endurance, but not yet what it means. They overlook how the S&P500 has fallen by 80% in the last several years in terms of its gold value. This is a stock bear market fully disguised, made hard to notice since the value of US money is falling fast. The stock market is rising from very easy money.

[mtlouie]

I'm telling ya, folks:  I pay very little attention to the financial stuff.  YAWN.  But this?  If they get this thing cookin' and nobody trusts anyone else's gold.....OH, BOY!!!

Like, do WE have the ability to prove our gold is REAL?  Nope. 

Food is the new gold.  Take that to the bank.

[wiccawench]

yes indeed.... its amazing how much we DONT see in the msm of the real stories.

if i didn't know better i would think they were both looking the other way and getting paid to as well.

[mtlouie]

I do have a question for those in the know:

Does tungsten and gold weigh the same?  How would a 400 oz. gold bar and a 400oz tungsten/gold bar be the same size?

Excuse my ignorance on this, I don't pay that much attention to this stuff.