Rumor: Fort Knox contains some fake Gold

Discussion in 'Economics' started by wilburbear, Jan 17, 2010.

  1. pt199


    Don't know what to say after reading this. What if this
    is true, what would it mean to the price of gold?
  2. Not sure if this is true, but it definately could be. I while back I saw a chinese website that sold tungsten and they stated that one of the uses for it could be to make counterfeit gold, so they were really out in the open about it. If there is alot of fake gold out there, prices could go up, or people just might give up on gold alltogether and decide they dont want it anymore. Either way, silver would be the better investment as nobody is counterfeiting that and if gold goes up, silver will go up with it. If people give up on gold, they will all jump to silver then (and maybe platinum too). Either way, you win with silver.
  3. lol.

    every major exchange has processes in place to check the purity of the commodity - be it oil or gold or something else. Those CoAs are 99.9999999% of the time demanded by the counterparty before settling. There are too many "reported" and "assuming" statements in that link to be considered worth reading. Any article that passes the buck like that isn't an article, it's an editorial.
  4. FredBloggs

    FredBloggs Guest


    there has NEVER been an official audit on the amount of gold in fed reserves. all the gold could be fake, or the vaults could be empty. no body in the public domain knows.

    try and find any official figures on the web that state how much gold the fed has in reserve.

    i dare you.

    no. i double dare you....
  5. clacy


    That's the problem with gold, IMO. Real gold..........fake gold.....what's the difference really????

    I am long GLD, by the way, but I really don't get all the hype that gold gets from doom & gloomers.
  6. pupu


    I heard the only thing left there is a pile of IOU notes
  7. No they don't. How about researching your claim before posting? There is no actual testing on the bullion. It is either stamped by an accredited mint/refiner or it is rejected.
  8. I've read that receivers often don't check bars certified as "good delivery". That is about to change. Gold has always been considered real money. The experiment of the last 40 years where paper has been used is possibly about to fail due to excessive deficit spending/money printing. Then gold will most likely reclaim it's proper place as real money.

  9. whatever you say boss...
    #10     Jan 18, 2010