HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! | |
Dualda
User ID: 76012685 Australia 06/29/2020 09:25 PM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! The Chinese claim that in 1995—during the Clinton administration (Robert Rubin, Alan Greenspan and Lawrence Summers)—between 1.3 million and 1.5 million 400-ounce tungsten blanks were manufactured by a sophisticated refiner in the United States, amounting to more than 16,000 metric tons. Some 640,000 of these tungsten blanks were then gold plated and shipped to Fort Knox, according to the Chinese, where they are said to remain to this day. The Chinese contend that the remaining collection of these 400-ounce fakes was eventually gold-plated and then “sold” into international markets [link to www.americanfreepress.net (secure)] |
Anonymous Coward User ID: 47276522 United States 06/29/2020 09:27 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 47276522 United States 06/29/2020 09:31 PM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! The Chinese claim that in 1995—during the Clinton administration (Robert Rubin, Alan Greenspan and Lawrence Summers)—between 1.3 million and 1.5 million 400-ounce tungsten blanks were manufactured by a sophisticated refiner in the United States, amounting to more than 16,000 metric tons. Some 640,000 of these tungsten blanks were then gold plated and shipped to Fort Knox, according to the Chinese, where they are said to remain to this day. The Chinese contend that the remaining collection of these 400-ounce fakes was eventually gold-plated and then “sold” into international markets [link to www.americanfreepress.net (secure)] A waste of good tungsten if you ask me. |
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Anonymous Coward User ID: 79016091 United States 06/29/2020 10:24 PM Report Abusive Post Report Copyright Violation | 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. Quoting: Don Draper from Nantucket 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 |
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Anonymous Coward User ID: 75470405 Australia 06/29/2020 10:30 PM Report Abusive Post Report Copyright Violation | 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! you weigh them idiot. If copper the weight isn't even close. |
Anonymous Coward User ID: 76585265 Luxembourg 06/29/2020 10:34 PM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! [link to www.zerohedge.com (secure)] Quoting: Don Draper from Nantucket 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 yea I prefer cash myself. |
Anonymous Coward User ID: 76585265 Luxembourg 06/29/2020 10:35 PM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! [link to www.zerohedge.com (secure)] Quoting: Don Draper from Nantucket 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 They shall cast their silver in the streets, and their gold shall be removed - Ezekiel 7:19 |
Anonymous Coward User ID: 29154611 United States 06/29/2020 10:40 PM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! THis is the dumbest thing ever, any time someone mentions gold everyone in the world says , it is probably fake, or check for fake (how?). Quoting: Anonymous Coward 71061251 fuck [link to alloytester.com (secure)] Easy |
*Ozone Baby*
User ID: 77676054 Canada 06/29/2020 10:43 PM Report Abusive Post Report Copyright Violation | 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! Bulk gold is not handled with the kind of kid gloves you would handle stamped and polished collectors pieces. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Resident Led Zeppelin Expert (ask me anything!) Traveler of both time and space Fuck Trudeau. mRNA-Free and Proud. "The essence of the independent mind lies not in what it thinks, but in how it thinks.' ~ Chris Hitchens |
Miss Bunny Swan
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*Ozone Baby*
User ID: 77676054 Canada 06/29/2020 10:44 PM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! It's a figure of speech. Sheesh. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Resident Led Zeppelin Expert (ask me anything!) Traveler of both time and space Fuck Trudeau. mRNA-Free and Proud. "The essence of the independent mind lies not in what it thinks, but in how it thinks.' ~ Chris Hitchens |
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Blenderizer
User ID: 76760905 United States 06/30/2020 12:49 AM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! Not really, what you want if you own gold is for the government to end the manipulations in the future's market so that gold and silver can find true price discovery. You want open and transparent markets, you don't want fraud. Fraud chases away people that you want to get involved. The more people involved demanding transparency the better the chances gold and silver will be used again as money. Personally I think the CBs do these scams and hoaxes to dissuade people from protecting their savings with gold and silver. Modeling reality |
Scribbler
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*Ozone Baby*
User ID: 77676054 Canada 06/30/2020 08:41 AM Report Abusive Post Report Copyright Violation | Re: HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal! Last Edited by Ozone Baby on 06/30/2020 08:42 AM ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Resident Led Zeppelin Expert (ask me anything!) Traveler of both time and space Fuck Trudeau. mRNA-Free and Proud. "The essence of the independent mind lies not in what it thinks, but in how it thinks.' ~ Chris Hitchens |
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Alchemike
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rewind
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