Skip to comments.Germany Latest Victim of Phony Gold Bar Scam
Posted on 03/31/2010 8:10:05 AM PDT by george76
Amid international accusations that U.S. officials in the Clinton administration replaced gold in Fort Knox with phony, mostly tungsten bars that were later shipped to China and other places yet unknown, a German refinery has now discovered that it has received a bogus "gold" bar as well.
The video proof was shown on the German television station ProSieben that ran the news story covering W.C. Heraeus in Hanau, Germany, the world's largest privately owned refinery.
In the story, Wilfried Horner, head of the gold foundry, shows a 500-gram bar (16.0755 troy ounces) received from an unidentified bank. The bar had the right physical dimensions to be an authentic gold bar, but one of the Heraeus employees suspected something.
After the bar was cut in half, the TV audience could plainly see that the dark insides were tungsten, with only a coating of gold on the outside.
While the story never aired on American TV, it is available on the Internet.
Last fall, Rob Kirby of Kirby Analytics in Toronto reported that China's central bank had discovered nearly 6,000 400-ounce gold-plated tungsten bars among those it had recently received from bonded warehouses.
(Excerpt) Read more at silverbearcafe.com ...
Auric Goldfinger was involved.
old news; now their gonna use gold-plated depleted uranium bars,a tungsten-in-cheek move, not Kelly`s Heroes at all.
Gold, the new Fiat Currency....
Maybe we should be putting our money in Tungsten futures....
I have to wonder how many of these bars came from China... They Buy 500 bars of gold and with a little work turn it into 5000 bars fo 5 million bars then they launder it through various world gold markets...
Either that or this is a move by the NWO types to dillute the Gold Market...
I don't feel bad for the CHICOM. They can always trade the tungsten to North Korea for some of that delicious kimchee.
Yes, definitely tungsten.
i DON WANT NO NEGATIVE WAVES
I wonder where these gold companies that are trying to sell the stuff are using. Doubt anyone would cut in half a gold coin to see if real.
ChinaTungsten Online! “We are well accustomed to exploit more innovative applications of tungsten products. Gold-plated tungsten is one of our main products. “
I woder if this had anything to do with the (unreported)electronic attack on the US financial system in September 2008. China calling in about $500 Billion worth of chips (and on the way to several trillion) before Paulsen shut it down
Okay a few questions...
1. Are they saying that the US government produced these bars?
2.If so this could not have been done without many many people physically doing the work.
3. Tungsten would have to be produced at a special forge ( High temps) which forges had this capability and who produced gold bar blanks of specific size?
Call M and tell him to put 007 on the case.
From what I can tell the present price of tungsten in around $225/metric ton.
That’s a whole lot less than gold.
I thought the article was fascinating in its assumption that anybody could know who had produced a specific fake gold bar. Unless the counterfeiters kept careful chain of custody documentation.
If it’s true or not, I think it is a way to make the consumer think twice about gold purchases. Keep the rubes out of the market while the central banks and the wealthy stock up at never to be seen again prices. hhhhhhhmmmm?
Maybe it was that gold paint huffer guy?
If I recall correctly, the rumor was that the tungsten bars were produced in China and gold plated in the US.
Couldn’t you easily detect tungsten by trying to stamp it? Gold takes a stamping easily, tungsten would not yeild. I gotta believe they have some sort of incoming QA to tell the two apart.
As an aside, my wife grew up in Attleboro where there are a lot of jewelry companies. The guy who transported gold for one of the big ones was an elderly man dressed like a janitor who drove it in the trunk of his old jalopy. People (in those days) knew enough not to gossip about things like that and he was never robbed.
Somebody made off with a lot of money and POWER.
Here is some articles for you about this subject...
try doing some research.....
Try being a bit more polite.
Oh yes, sir! I’ll get right on that.
Thank you. That’s my back you got there!
Years ago, some folks made counterfeit Krugerrands by alloying platinum with copper to make a gold appearance. Eventually the price of platinum went so high, the counterfeit Krugers are now worth more than the real gold ones!
I was in a hurry while at work, I didnt mean any disrespect to anyone
“No, Mr. Bond. I expect you to die!”
Best film line ever!
Our public masters will not reveal whom the culprit was
Our free press is silent on the matter.
I like your “idea”.
Who ever it was scared the crap out of the D of C
As George said “I am sorry I triggered the socialist landslide” or something close to that
Very very close.
And from another site...
A Chinese company called Chinatungsten is advertising imitation gold merchandise on its website. The following quote is taken directly from their Tungsten Alloy for Gold Substitution page:
"a coin with a tungsten center and gold all around it could not be detected as counterfeit by density measurement alone ... We are well accustomed to exploit more innovative applications of tungsten products. Gold-plated tungsten is one of our main products."
Envision a gloomy old office, as if from a Gahan Wilson cartoon, which it happened to be.
Imagine an exceedingly decrepit old man, leaning on his cane, sitting in front of the desk. Behind it sits a much younger man, with a magnifying loupe examining a small object.
The younger man speaks.
“I’m afraid what you have here, Colonel Phlegm-Dottle, is a bit of chocolate covered in yellowish tinfoil.”
Your comment was unwarranted and abusive.
Looks like gold is near a short term peak again. This is the third tungsten scare noted on FR since November; previously, threads on March 2 and March 4 (keyword “tungsten” brings them up) absolutely perfectly bookended the March 3 top of about $1137.
Does anybody have a goldbug ping list? I can start one if we don’t have one and there’s interest.
If stamping were the only easy test, you could have gold around a core of tungsten and let’s say double your money with a 50/50 bar instead of going for a 10x increase with a 90/10 bar.
Oops, this is the same ten-year old story from the last scare here. We had at least two threads, on March 2 and March 4.
Here are some more recent doings of the gold and silver market this past week at ZeroHedge:
Pretty interesting stuff. The physical market is not physical gold at all. How about that? Just piles and piles of paper saying it is gold. In fact, the paper racket is leveraged 100 to ... 1! And, just by coincidence, the whistleblower and his wife have an attempt made on their lives, the very next day.
Move along now, nothing to see here. LOL
The wealth of the republic and her citizens has been looted and the people left paupers. It won't take all that much longer for all of us to see just how broke we really are!
Announcing the brand new Free Republic Goldbug Ping List!
Ping me to get on or off the list.
Please add me to your FR Goldbug ping list. Thanks.
Do you have a reference for that? I think that you may be off by a few orders of magnitude.
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