Gold Bar filled with Tungsten found

FluffyMcDeath

FluffyMcDeath

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Not the first of it's kind according to stories I read a few years back and there are rumoured to be a lot of them out there but here is one that has been cut and confirmed.
 
For sure... And gold's supposed to be the "safe" investment. lol! What a complete sham, everywhere.
 
ilwrath said:
For sure... And gold's supposed to be the "safe" investment. lol! What a complete sham, everywhere.
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10% of US bills in circulation worldwide are counterfeit. A large but largely unknown percentage of corporate stocks and shares are counterfeit in the sense that they are temporary shares created as part of a share transaction but never settled. A good portion of home values in the late 2000s was fraudulent and fictional and much of that is still in the system. A lot of that fake value is still in the system.

There are no safe investments - but gold is pretty good - if you have physical possession. If you only have certificates for gold in storage then your gold can just go away like it did at MF Global.
 
There are no safe investments - but gold is pretty good - if you have physical possession.
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But that was a documented bar, privately held, no?
 
ilwrath said:
But that was a documented bar, privately held, no?
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Yup. Sometimes you get unlucky. It's all part of the game - just like counterfeit bills. Sometimes you get one - and if you are lucky you can pass it on and if you are not you can go to jail - or at least be out the value of the bill. With a bill the value goes to zero if it's counterfeit. The guy with the bar was lucky that there is still a considerable percentage of gold still there that he can recast.

The gold market is a bit like the drug market and other large international markets - you never quite know what you are really going to get. Back before Tungsten adulterated gold was much easier to detect. It's more difficult now but people are improving their processes and sometimes you just go on gut.

Also, if you do find compromised gold the question is do you tell anyone, or do you try to pass it, or do you leave it in the vault and borrow against it or lease it out? Most large institution who hold a large amount of gold would, I suspect, rather hold fake gold than reveal that their gold is fake.

Still, if you have gold that is gold - it IS gold and will still be worth something in a hundred years if there are people around. It's not so likely that the same can be said for your stocks and bonds - or you for that matter.
 
Also, if you do find compromised gold the question is do you tell anyone, or do you try to pass it, or do you leave it in the vault and borrow against it or lease it out? Most large institution who hold a large amount of gold would, I suspect, rather hold fake gold than reveal that their gold is fake.
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Yup. Whoever is proven to be holding the fake gold has to eat the losses on it. It's definitely NOT in the banks best interests to publicly test their stash. They'll quietly pass the suspected bad off on anyone else they can, though.
 
FluffyMcDeath said:
10% of US bills in circulation worldwide are counterfeit.
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Shame on you Fluffy! You know "Helicopter" Ben Bernanke has been running the printing press 24/7 and 90% or more of the USD in circulation is counterfeit ;)
 
FluffyMcDeath said:
So where are the "real" bars, eh? :)
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like the force... it is all around us...

A total of 165,000 tonnes of gold have been mined in human history, as of 2009.[2] This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8500 m3, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.[3]
Besides its widespread monetary and symbolic functions, gold has many practical uses in dentistry, electronics, and other fields. Its high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity led to many uses of gold, including electric wiring, colored-glass production and evengold leaf eating.

:)
 
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