goldplated tungsten bars in fort knox???

Discussion in 'Financial Cents' started by Tango3, Nov 14, 2009.

  1. Tango3

    Tango3 Aimless wanderer

    nteresting story:
    Gld ETF Warning, Tungsten Filled Fake Gold Bars

    Nov 12, 2009 - 12:22 PM By:
    [​IMG]“Gold Finger - A New Take On Operation Grand Slam With A Tungsten Twist”
    I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:

    1] - irregularities in the publication of the gold ETF - GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 pages to under 200 pages and then back up to 800 or so pages.
    2] - reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong.
    Why Tungsten?
    If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it.

    Unfortunately, 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.
    The balance of this 1.3 million – 1.5 million 400 oz tungsten cache was also plated and then allegedly “sold” into the international market.
    Apparently, the global market is literally “stuffed full of 400 oz salted bars”.
    Makes one wonder if the Indians were smart enough to assay their 200 tonne haul from the IMF?
    A Slow Motion Train Wreck, Years in the Making
    An obscure news item originally published in the N.Y. Post [written by Jennifer Anderson] in late Jan. 04 has always ‘stuck in my craw’:
    DA investigating NYMEX executive - Manhattan, New York, district attorney's office, Stuart Smith - Melting Pot - Brief Article – Feb. 2, 2004
    A top executive at the New York Mercantile Exchange is being investigated by the Manhattan district attorney. Sources close to the exchange said that Stuart Smith, senior vice president of operations at the exchange, was served with a search warrant by the district attorney's office last week. Details of the investigation have not been disclosed, but a NYMEX spokeswoman said it was unrelated to any of the exchange's markets. She declined to comment further other than to say that charges had not been brought. A spokeswoman for the Manhattan district attorney's office also declined comment.

    The offices of the Senior Vice President of Operations - NYMEX – is exactly where you would go to find the records [serial number and smelter of origin] for EVERY GOLD BAR ever PHYSICALLY settled on the exchange. They are required to keep these records. These precise records would show the lineage of all the physical gold settled on the exchange and hence "prove" that the amount of gold in question could not have possibly come from the U.S. mining operations – because the amounts in question coming from U.S. smelters would undoubtedly be vastly bigger than domestic mine production.
    We never have found out what happened to poor ole Stuart Smith – after his offices were "raided" – he took administrative leave from the NYMEX and he has never been heard from since. Amazingly [or perhaps not], there never was any follow up on in the media on the original story as well as ZERO developments ever stemming from D.A. Morgenthau’s office who executed the search warrant.
    Are we to believe that NYMEX offices were raided, the Sr. V.P. of operations then takes leave - all for nothing?
    These revelations should provide a “new filter” through which Rothschild exiting the gold market back in 2004 begins to make a little more sense:
    “LONDON, April 14, 2004 (Reuters) - NM Rothschild & Sons Ltd., the London-based unit of investment bank Rothschild [ROT.UL], will withdraw from trading commodities, including gold, in London as it reviews its operations, it said on Wednesday.”
    Interestingly, GATA’s Bill Murphy speculated about this back in 2004;
    “Why is Rothschild leaving the gold business at this time my colleagues and I conjectured today? Just a guess on my part, but suspect:”
    Coincidentally [or perhaps, not?], GLD Began Trading 11/12/2004
    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:
    Excerpt from the GLD prospectus on page 11:
    Gold bars allocated to the Trust in connection with the creation of a Basket may not meet the London Good Delivery Standards and, if a Basket is issued against such gold, the Trust may suffer a loss. Neither the Trustee nor the Custodian independently confirms the fineness of the gold bars allocated to the Trust in connection with the creation of a Basket. The gold bars allocated to the Trust by the Custodian may be different from the reported fineness or weight required by the LBMA’s standards for gold bars delivered in settlement of a gold trade, or the London Good Delivery Standards, the standards required by the Trust. If the Trustee nevertheless issues a Basket against such gold, and if the Custodian fails to satisfy its obligation to credit the Trust the amount of any deficiency, the Trust may suffer a loss.
    The Fed Has Already Been Caught Lying
  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    It doesn't even matter if it is true: All the gold reserves belong to the private banks and foreign investors anyway.
  3. ghrit

    ghrit Bad company Administrator Founding Member

    Which means, if the bars they hold are fakes, gold is going to take a dive, and with it go all gold backed securities. Interesting.
  4. Tango3

    Tango3 Aimless wanderer

    Unless they think they want YOU to think the bars have been tampered with and the price takes a dump while They load up the newly available bullion. I don't trust any financial brokerage or service anymore.
  5. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    These elitists and banking tycoons are all criminals, rotten to the core. I have no doubts that they plan to get richer while doing everything they can to dismantle the American economy.
  6. miestro_jerry

    miestro_jerry Monkey++

    If these folks were really small, they would have used gold plated DU, instead of Tungsten. Du is very heavy, Tungsten is not.

  7. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Like Keebler Elves? [ROFL]
  8. Tango3

    Tango3 Aimless wanderer

    Ah but Du is radioactive and would be easy and quick to test for...
  9. Tango3

    Tango3 Aimless wanderer

    I pretty much gave up on the webbot but hey somebody on another board remembered and mentioned a webbot prediction inTopic started on 2-3-2009 @ 09:48 AM by questioningal march of finding "fake gold in an audit!

    I read this morning, a very interesting "! important]prediction" from the Webbot language. Gold will be dropping to 650 - 700 due to within one months time, a audit of ! important]important]EFT'sor private mint, finds "Fake Gold" from China.

    This finding will cause panic of people selling their Gold and buying treasuries. This will cause the U.S. dollar to look to be a "safe Topic started on 2-3-2009 @ 09:48 AM by questioningalhaven" instead of metals.

    The problem will include silver too.

    After everything settles down and panic selling stops, then gold will sky rocket to 1900 - due to the "actual" amount of "real" gold available!

    link to :

    Want in on a little something the time monks are willing to share publicly? OK, try this one on --- but remember, this is a probability only and may or may not happen as think in terms of it being a possibility only for now...

    Ask yourself what would happen if a large financial entity - and it could be a private mint, an [COLOR=#D0D060 ! important][COLOR=#D0D060 ! important]ETF[/COLOR][/COLOR], or something like that - was discovered in the next, oh, two or three weeks - to be holding a lot of counterfeit gold that was apparently made in China? Suppose further that the discovery happened during some kind of official audit process and that as word spread, it was discovered that not only were gold bars involved, but perhaps gold [COLOR=#D0D060 ! important][COLOR=#D0D060 ! important]coins[/COLOR][/COLOR] of recent vintage and maybe some involvement of silver as well. How would that work out?

    Curiously, as I've been penciling it out over the weekend, it might initially send people scurrying to US Treasuries and it would drop the price of gold perhaps as low as $650-$700 before launching to $1,900 after the shortfall of real gold comes into focus...which is what Robin Landry's charts infer. It would also keep a lid on [COLOR=#D0D060 ! important][COLOR=#D0D060 ! important]interest [COLOR=#D0D060 ! important]rates[/COLOR][/COLOR][/COLOR] since Treasuries would be seen as an ideal safe haven. With all those treasury auctions to fund the bailout/printout festival, the flight of hedge managers from recently acquired metals would certainly keep rates low and these, in turn, could be seen as the reason for some confidence in [COLOR=#D0D060 ! important][COLOR=#D0D060 ! important]financial [COLOR=#D0D060 ! important]markets[/COLOR][/COLOR][/COLOR] returning until July 18th, or thereabout.

    Of course, this is all only a possibility (although I find myself now wondering about Hillary's recent trip to China...was she there to warn them what our plans were and not to freak out?). Did I mention that a fraud discover in gold would do marvels for the US dollar's value in world markets? It would be a one-size solves all problems kind of solution - sort of like a mini War on Terror...a war on gold. Oh, and the leading edge of it seems to be showing in a Chinese counterfeiting story in Coin World, too...

    I find this very interesting and plan on having my own things "checked out" before the SHTF (if it does) regarding gold.
  10. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    I was going to become a fortune teller myself...but I just couldn't see any future in it.
  11. dragonfly

    dragonfly Monkey+++

    But, I found it interesting that a whole lot of GOLD (20 tons), was just bought by INDIA from the IMF, as they were "dumping" the dollar, and China was next in line.......same request, in amount of cashing in US Dollars to buy gold from the IMF....
    IF China is selling counterfeit gold, who is buying it from them, as they buy their gold from others?
  12. Thanks for sharing this up!

    Gold Ira
  13. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    They could be selling it to civilian buyers through foreign markets, too. There's nothing quite like making a profit on nearly worthless precious metals, especially at top dollar inflated prices. With the gold panic in high gear, survivalists to investors on small scales would ultimately be buying worthless Tungsten which shines like gold...

    but who knows?
  14. SLugomist

    SLugomist Monkey++

    As for gold in fort knox. I personally I don't think any is there. One nuke and all your gold is gone. They wouldn't advertise where their financial reserves actually were.

    I think brokor hit the nail on the head.
    This is a "gold bubble" as gold is over sold. More gold "sold" than there is actual gold. Those accounts that give you a piece of paper saying how much gold you "have", etc. etc.
  15. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    And the Gold Commission under Reagan proved that there is no gold in reserves. The FED is privately owned and our monetary system is based on 100% deception. It is completely and entirely dependent upon DEBT as assets. This is why gov't is spending so rapidly -it is the only way the banks can keep the inflated system going. More debt = more lending power, $10,000 equals $100,000 that can be lended, and we haven't even touched the interest or the derivatives, not to mention the sale of debt assets to other banks and their own values, which have become almost entirely de-regulated. The more government "borrows", the greater debt assets are created (all the money has to go somewhere), but the real kicker is that the interest will always compound and is impossible to pay off, so the only way to stave off collapse is to further increase debt. It is a remarkable usury scheme and it is one hundred percent volatile.

    The system is purposefully being destroyed and its course already set; this will usher in the "need" for a new monetary system, but also a new plan on debt management. Most people probably do not know that the Secretary of the Treasury has the same executive privilege as the President, granted to him by Congress (USCA Title 12, Section 95(b). The Sec of Treasury is the appointed man to manage the nation's bankruptcy, as per FDR's deal with the banks which stems from the 1913 Federal Reserve Act. Ultimately, this means that YOU, ME, our "Property", everything is collateral (social security is the key), and nobody is privy to this it seems. The Secretary of the Treasury is the sole arbitrator for the private banks, he delivers the deal to the President, and the President must obey. Now, with Obama in office, being a protege of Kissinger and a puppet for Wall Street, we have a clear picture of just how determined these banking cartels really are.

    There are two methods to attack this situation; (1) all people must completely pay off all of their debt and remove all currency from the banks. The system will collapse. This is highly unlikely, and borders on impossible, however. (2) By rescinding the empowering acts of Congress, which grant the authority to private banks to operate (USCA Title 12, S 95 and The Bank Holiday of March 6, 1933 -Pres. Procl. # 2038, #2039 respectively) the banks will not be able to operate or conduct business within the United States, the republic would be restored, and we can once again push for Congress to print our own debt-free currency which is backed by the labor and typical assets and holdings of the nation. Inflation can also be curbed proportionally with GDP/GNP revenues and sensible taxation. To assume that returning to the gold standard, or even silver to solve our dilemma or prevent another private takeover is absurd, because this is exactly how it all started to begin with. I also do not believe that assaulting the privately owned IRS is a viable solution, because they are merely an extension of the banking system itself, and it can be easily replicated -however, if the IRS were ever defeated in a court, it would spell certain doom for the current monetary system itself -but the private banks would still remain and would still operate. All that is required for these private banks to continue to hold the reigns of power is for government to be submissive and the people ignorant; we need a complete reformation of our government, including all three branches.

    It would also be a great idea to rescind pretty much all of the Presidential Proclamations enacted under FDR, including the amended Trading With the Enemy Act of 1917 (Pres. Procl. #2038, 2039, 2040) which is where all licensing originates and defines every citizen as an enemy to the Federal Government, and that they must be licensed and regulated. Smaller government would be a great beginning. This starts locally, and continues upward to the Federal level, eliminating all alphabet agencies and their executive/emergency privilege.
  16. dragonfly

    dragonfly Monkey+++

  17. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Yes indeed.

    Full story:

    “The Gulf monetary union pact has come into effect,” said Kuwait’s finance minister, Mustafa al-Shamali, speaking at a Gulf Co-operation Council (GCC) summit in Kuwait.
    The move will give the hyper-rich club of oil exporters a petro-currency of their own, greatly increasing their influence in the global exchange and capital markets and potentially displacing the US dollar as the pricing currency for oil contracts. Between them they amount to regional superpower with a GDP of $1.2 trillion (£739bn), some 40pc of the world’s proven oil reserves, and financial clout equal to that of China.
    <!-- BEFORE ACI -->
    Saudi Arabia, Kuwait, Bahrain, and Qatar are to launch the first phase next year, creating a Gulf Monetary Council that will evolve quickly into a full-fledged central bank.
    The Emirates are staying out for now – irked that the bank will be located in Riyadh at the insistence of Saudi King Abdullah rather than in Abu Dhabi. They are expected join later, along with Oman.

    The Gulf states remain divided over the wisdom of anchoring their economies to the US dollar. The Gulf currency – dubbed “Gulfo” – is likely to track a global exchange basket and may ultimately float as a regional reserve currency in its own right. “The US dollar has failed. We need to delink,” said Nahed Taher, chief executive of Bahrain’s Gulf One Investment Bank.

    The project is inspired by Europe’s monetary union, seen as a huge success in the Arab world. But there are concerns that the region is trying to run before it can walk.
    Europe took 40 years to reach the point where it felt ready to launch a currency. It began with the creation of the Iron & Steel Community in the 1950s, moving by steps towards a single market enforced by powerful Commission and European Court. The EMU timetable was fixed at the Masstricht in 1991 but it took another 11 for euro notes and coins to reach the streets.

    Khalid Bin Ahmad Al Kalifa, Bahrain’s foreign minister, told the FIKR Arab Thought summit in Kuwait that the project would not work unless the Gulf countries first break down basic barriers to trade and capital flows.
    At the moment, trucks sit paralysed at border posts for days awaiting entry clearance. Labour mobility between states is almost zero.

    “The single currency should come last. We need to coordinate our economic policies and build up common infrastructure as a first step,” he said.

    Mohammed El-Enein, chair of the energy and industry committee in Egypt’s parliament, said Europe’s example could help the Arab world achieve its half-century dream of a unified currency, but the task requires discipline. “We need exactly the same institutions as the EU has created. We need a commission, a court, and a bank,” he said.
    The last currency to trade in souks from Marakesh, to Baghdad and Mecca, was the Ottomon Piaster, known as the “kurush”. It suffered chronic inflation as the silver coinage was debased.

    There is a logic to an Arab currency. The region speaks one language, has the unifying creed of “Umma Wahida” or One Nation from the Koran, and has not torn itself apart in savage wars – ever – in quite the way that Europe has in living memory.
    Yet hurdles are formidable even for the tight-knit group of Gulf states. While the eurozone is a club of rough equals – with Germany, France, Italy, and Spain each holding two votes on the ECB council – the Gulf currency will be dominated by Saudi Arabia. The risk is that other countries will feel like satellites. Monetary policy will inevitably be set for Riyadh’s needs.

    Hans Redeker, currency chief at BNP Paraibas, said the Gulf states may have romanticised Europe’s achievement and need to move with great care to avoid making the same errors.

    “The Greek crisis has exposed the weak foundations on which the euro is built. The gap in competitiveness between core Europe and the periphery has grown wider and wider. The obvious mistake was to launch EMU without a central fiscal authority and political union, as the Bundesbank warned in the 1990s,” he said.

    “The euro was created for political reasons after the fall of the Berlin Wall to lock Germany irrevocably into Europe. It was not done for economic reasons,” he said.
    Ben Simpfendorfer, Asia economist for RBS and an expert on the Middle East, told the FIKR conference that the rise of China had paradoxically disrupted the case for pan-Arab economic integration.

    There was a natural fit ten years ago between rich oil state and low-wage manufacturers in Egypt and Syria, but cheap exports from China have forced poorer Arab states to retreat behind barriers to shelter their industries. “The rationale for a single currency has become weaker,” he said.

    The GCC also agreed to create a joint military strike force – akin to the EU’s rapid reaction force – to tackle threats such as the incursion of Yemeni Shiite rebels into Saudi territory earlier this year.

    This is a major breakthrough after years of deadlock on defence cooperation.
    The Sunni Gulf states are deeply concerned about the great power ambitions of Shiite Iran and its quest for nuclear weapons, to the point where the theme of a possible war between Iran and a Saudi-led constellation of states has crept into the media debate.
    They nevertheless repeated on Tuesday that “any military action against Iran” by Western powers would be unacceptable.
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