Counterfeit Gold? Fake Inventory?

[TongueThaied]

It seems that gold bars have been counterfeited with tungsten, which has a density very close to gold. These bars have been distruted by bonded warehouses and found in the gold reserves of several countries around the world. It appears to be a massive fraud.

It also seems that many gold stocks, backed by actual bullion, are not really backed, as the inventory have been faked. Should the shareholders demand delivery, there could be a major collapse. See this artilce, Nathan Lewis: "It's Ponzimonium in the Gold Market." To find it, Google "ponzimonium huffington"

[neverdie]

This news has been around for a fair while. I read one report which suggested there was a large amount of this stuff in fort knox..........the market hasnt collapsed yet.

[Naam]

it seems... it appears... it also seems... if... there could be...

[flying]

This news has been around for a fair while. I read one report which suggested there was a large amount of this stuff in fort knox..........the market hasnt collapsed yet.

That would be tough to explain since Fort Knox has not been independently audited in over 50 years.

Aside from the fact that the gold has probably been gone for many decades now...hence the reluctance to allow an independent audit/inventory

[neverdie]

it seems... it appears... it also seems... if... there could be...

Yes theres lots of dribble out there Naam. Obviously this sort of thing plays its part in the market

[Tigs]

The date of the article was 1st April

[TheItaliann]

Gold would not collapse, the prices would go up. less supply...

[sokal]

why would the price of gold collapse if there is more paper claims on gold then there is gold bullion ?

the more fake gold there is, just adds to the claims on the real gold.

[sharecropper]

it seems... it appears... it also seems... if... there could be...

Yes theres lots of dribble out there Naam. Obviously this sort of thing plays its part in the market

You mean he's tendering false coin?

[scrotiem249]

Didn't Gordon Brown in the UK sell 400 tonnes of Gold a while ago...