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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 ...
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!
Nam Vet
-PJ
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.
LOL!
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