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HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!

 
Don Draper from Nantucket

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06/29/2020 02:01 PM

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HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
[link to www.zerohedge.com (secure)]


Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Don Draper from Nantucket  (OP)

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06/29/2020 02:03 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
Yet one market which seemed stubbornly immune to any counterfeiting was that of physical gold in China, which was odd considering that over the past decade China had emerged as the world's biggest counterfeiter of various, mostly industrial metals used to secure bank loans, better known as "ghost collateral", and which adding insult to injury, would frequently be rehypothecated meaning often several banks would have claims to the same (fake) asset.

All that is about to change with the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. And yes, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan itself
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Who_Fucking_Cares

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06/29/2020 02:05 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
All that glitters is not gold.
Q33

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06/29/2020 02:07 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
[link to www.zerohedge.com (secure)]


Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action
 Quoting: Don Draper from Nantucket


Thread: So who Remembers the fake gold being put in to the market by China?
Anyone who challenges their control is deemed a sexist, a racist, a xenophobe and morally deformed , they will attack you they will slander you, they will seek to destroy your career and your family, they will seek to destroy everything about you , including your reputation they will lie lie lie, they will do whatever is necessary!

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Don Draper from Nantucket  (OP)

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06/29/2020 02:08 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
[link to www.zerohedge.com (secure)]


Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action
 Quoting: Don Draper from Nantucket


Thread: So who Remembers the fake gold being put in to the market by China?
 Quoting: Q33


"All that is about to change with the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. And yes, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan itself."
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Blenderizer

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06/29/2020 02:12 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
It's surprising they'd use copper instead of tungsten. Tungsten has a specific weight (density) very close to gold, difficult to tell them apart.
Modeling reality
Anonymous Coward
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06/29/2020 02:14 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
[link to www.zerohedge.com (secure)]


Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action
 Quoting: Don Draper from Nantucket


1dunno1 The retards love them.
Anonymous Coward
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06/29/2020 02:17 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
Rome falling did the same. Now get the lead out.
Don Draper from Nantucket  (OP)

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06/29/2020 02:18 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
It's surprising they'd use copper instead of tungsten. Tungsten has a specific weight (density) very close to gold, difficult to tell them apart.
 Quoting: Blenderizer


I wondered the same! Maybe they were sealed containers, plastic sleeves etc. I don't know anyone who would take a 1oz gold bar out of a sealed plastic sleeve to attempt to test it. Let alone if they did they wouldn't scrape it for an acid test or cut into it for the same reason. Most people relish the quality of such a piece and handle them with kid gloves so to speak!
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Don Draper from Nantucket  (OP)

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06/29/2020 02:19 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
Rome falling did the same. Now get the lead out.
 Quoting: Anonymous Coward 49557904


Signs of dying empires!
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Q33

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06/29/2020 02:21 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
[link to www.zerohedge.com (secure)]


Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action
 Quoting: Don Draper from Nantucket


Thread: So who Remembers the fake gold being put in to the market by China?
 Quoting: Q33


"All that is about to change with the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. And yes, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan itself."
 Quoting: Don Draper from Nantucket


Dude we must cut china's oil supply and let them collapse!
Anyone who challenges their control is deemed a sexist, a racist, a xenophobe and morally deformed , they will attack you they will slander you, they will seek to destroy your career and your family, they will seek to destroy everything about you , including your reputation they will lie lie lie, they will do whatever is necessary!

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Anonymous Coward
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06/29/2020 02:30 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
It's surprising they'd use copper instead of tungsten. Tungsten has a specific weight (density) very close to gold, difficult to tell them apart.
 Quoting: Blenderizer


I wondered the same! Maybe they were sealed containers, plastic sleeves etc. I don't know anyone who would take a 1oz gold bar out of a sealed plastic sleeve to attempt to test it. Let alone if they did they wouldn't scrape it for an acid test or cut into it for the same reason. Most people relish the quality of such a piece and handle them with kid gloves so to speak!
 Quoting: Don Draper from Nantucket


Please, I have drilled gold and silver bars. They sell just the same only diff is you know its real. Now come on and crawl out of your Mama's basement!
Jake

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06/29/2020 02:32 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
funny thing is these wall street hacks love china
The remnant of Jacob will be among the nations, in the midst of many peoples, like a lion among the beasts of the forest, like a young lion among flocks of sheep, which mauls and mangles as it goes, and no one can rescue.
Don Draper from Nantucket  (OP)

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06/29/2020 02:40 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
It's surprising they'd use copper instead of tungsten. Tungsten has a specific weight (density) very close to gold, difficult to tell them apart.
 Quoting: Blenderizer


I wondered the same! Maybe they were sealed containers, plastic sleeves etc. I don't know anyone who would take a 1oz gold bar out of a sealed plastic sleeve to attempt to test it. Let alone if they did they wouldn't scrape it for an acid test or cut into it for the same reason. Most people relish the quality of such a piece and handle them with kid gloves so to speak!
 Quoting: Don Draper from Nantucket


Please, I have drilled gold and silver bars. They sell just the same only diff is you know its real. Now come on and crawl out of your Mama's basement!
 Quoting: Anonymous Coward 78498671


stfu

Nobody is talking about the little bag of chocolate gold coins you find at the dollar store! Dbag extraordinaire!

Last Edited by Don Draper from Nantucket on 06/29/2020 02:42 PM
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Anonymous Coward
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06/29/2020 02:40 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
Tungsten about $50 KG..
Gold $58,972.35 KG
Anonymous Coward
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06/29/2020 02:42 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
all of the Prescription drugs they're making are phake phony,
and don't do anything too.
Xeven

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06/29/2020 02:42 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
trump30
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking.
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06/29/2020 02:42 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
It's surprising they'd use copper instead of tungsten. Tungsten has a specific weight (density) very close to gold, difficult to tell them apart.
 Quoting: Blenderizer


I wondered the same! Maybe they were sealed containers, plastic sleeves etc. I don't know anyone who would take a 1oz gold bar out of a sealed plastic sleeve to attempt to test it. Let alone if they did they wouldn't scrape it for an acid test or cut into it for the same reason. Most people relish the quality of such a piece and handle them with kid gloves so to speak!
 Quoting: Don Draper from Nantucket


Please, I have drilled gold and silver bars. They sell just the same only diff is you know its real. Now come on and crawl out of your Mama's basement!
 Quoting: Anonymous Coward 78498671


That’s the old tried and true method. The”GOLD standard, lol

These days any ultrasound probe will reveal a counterfeit gold bar. Or silver, for that matter

Density
diverdan01

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06/29/2020 02:43 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
Yet one market which seemed stubbornly immune to any counterfeiting was that of physical gold in China, which was odd considering that over the past decade China had emerged as the world's biggest counterfeiter of various, mostly industrial metals used to secure bank loans, better known as "ghost collateral", and which adding insult to injury, would frequently be rehypothecated meaning often several banks would have claims to the same (fake) asset.

All that is about to change with the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. And yes, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan itself
 Quoting: Don Draper from Nantucket


I'm guessing biden and clinton were in on it too
Don Draper from Nantucket  (OP)

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06/29/2020 02:43 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
[link to www.zerohedge.com (secure)]


Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action
 Quoting: Don Draper from Nantucket


Thread: So who Remembers the fake gold being put in to the market by China?
 Quoting: Q33


"All that is about to change with the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. And yes, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan itself."
 Quoting: Don Draper from Nantucket


Dude we must cut china's oil supply and let them collapse!
 Quoting: Q33


dicaprio-agree
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Anonymous Coward
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06/29/2020 02:44 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
Tungsten about $50 KG..
Gold $58,972.35 KG
 Quoting: Anonymous Coward 78155957


Tungsten is almost exactly the same weight and density as Gold, too.
Q33

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06/29/2020 02:45 PM

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"All that is about to change with the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. And yes, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan itself."
 Quoting: Don Draper from Nantucket


Dude we must cut china's oil supply and let them collapse!
 Quoting: Q33


dicaprio-agree
 Quoting: Don Draper from Nantucket


v5t
Anyone who challenges their control is deemed a sexist, a racist, a xenophobe and morally deformed , they will attack you they will slander you, they will seek to destroy your career and your family, they will seek to destroy everything about you , including your reputation they will lie lie lie, they will do whatever is necessary!

[link to www.youtube.com (secure)]
Don Draper from Nantucket  (OP)

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06/29/2020 02:52 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
It's surprising they'd use copper instead of tungsten. Tungsten has a specific weight (density) very close to gold, difficult to tell them apart.
 Quoting: Blenderizer


I wondered the same! Maybe they were sealed containers, plastic sleeves etc. I don't know anyone who would take a 1oz gold bar out of a sealed plastic sleeve to attempt to test it. Let alone if they did they wouldn't scrape it for an acid test or cut into it for the same reason. Most people relish the quality of such a piece and handle them with kid gloves so to speak!
 Quoting: Don Draper from Nantucket


Please, I have drilled gold and silver bars. They sell just the same only diff is you know its real. Now come on and crawl out of your Mama's basement!
 Quoting: Anonymous Coward 78498671


That’s the old tried and true method. The”GOLD standard, lol

These days any ultrasound probe will reveal a counterfeit gold bar. Or silver, for that matter

Density
 Quoting: Bodiless


That would be my first choice to find a reputable dealer and have them analyze it in their machine, way before I drilled into it! Not to say that that doesn't work, quite obviously it does. Of course just being a poor old country boy I cant afford to buy an oz of gold anyway....lol. I may have some old mercury dimes in a drawer put away tho!
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
RosehipCaper

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06/29/2020 02:52 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
I Bought $45 Grand Worth of V.GBR, Mid March $4.20 Canadian, I ONLY BUY AND SUPPORT OUR CANADIAN MINING JUNIORS!.

Is This Hit $20.00 Today , My $190 000 Investment Should Be About $700 000 Grand give or Take ,This Will Allow Us to Pretty Much Pay OFF ALL OUR DEBT, Including Our Cottage Mortgage...5a

AND I KNOW IT'S REAL GOLD!,, Fucking Chinese..
RosehipCaper
Anonymous Coward
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06/29/2020 02:53 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
:trump30:
 Quoting: Xeven


Vladimir, do you want to buy some good for tire weights and fishing sinkers?

I will give you the ponzi family discount..
Anonymous Coward
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06/29/2020 02:55 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
All that glitters is not gold.
 Quoting: Who_Fucking_Cares


Well the OUTSIDE might 'glitter'.

The inside could contain oodles of Tungsten Carbide industrial waste power bought up from places that make and sharpen saw blades or concrete drill bits.
Anonymous Coward
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06/29/2020 02:56 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
All that glitters is not gold.
 Quoting: Who_Fucking_Cares


Well the OUTSIDE might 'glitter'.

The inside could contain oodles of Tungsten Carbide industrial waste power bought up from places that make and sharpen saw blades or concrete drill bits.
 Quoting: Anonymous Coward 30638469


No, that stuff is better for fragmenting hand grenades.
2012Portal
2012Portal - Mayan Beyond 2012

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06/29/2020 02:58 PM

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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
I read, about 5 years ago, how China had basically hacked a philosophers stone and could create fake gold, so good, that it was almost undetectable.
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Anonymous Coward
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06/29/2020 02:59 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
All that glitters is not gold.
 Quoting: Who_Fucking_Cares


Gold doesn't glitter lol. But most people simply repeat what they hear.
Anonymous Coward
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06/29/2020 03:00 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
I read, about 5 years ago, how China had basically hacked a philosophers stone and could create fake gold, so good, that it was almost undetectable.
 Quoting: 2012Portal


Do you want to see the menu of shit they use?

They don't know I stole a copy, so don't tell anyone.
Anonymous Coward
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06/29/2020 03:01 PM
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Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
That's why you don't buy gold from the chjinx





GLP