Watch out for "Salted Gold from IMF" China found in Hong Kong salted gold bars

Discussion in 'Chit Chat' started by SaltedGold, Nov 15, 2009.

  1. And here’s what the Chinese allegedly uncovered:

    Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.

    "If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it."
  2. Supposition.

    Defaults unlikely;most I know hold from kilo bars ---> .9999 shot. Most retail have 1oz. Eagles, Krugerrands or Maples.

    If you trust scales or assay cards you're naive.

    ETF/ETN +stops
  3. zdreg


    what can be trusted?
  4. Personally, Kilo and Maples Royal Canadian Mint.
  5. 1 ounce gold Buffalos come sealed in plastic with printing from the US mint on them. They are also 24 karat making them shinier than the 22 karat American Eagle. My coin dealer only sells them for $7 more than the Eagles. Their unique design, bright gold color and plastic seal make them my gold coin of choice.
  6. Actually, the density discrepancy between tungsten and gold is large enough to be detected by a precise scale. It's enough to get a more elaborate assay to be true.
  7. That's correct, however, I personally require more testing.
  8. I agree that testing is required, what disturbs me far more however
    is that you can't trust IMF and US gold it seems. Isn't that disturbing somewhat.
  9. Given the nature of man, I am mistrusting, to a degree, by default.

    The disadvantages are obvious but the advantages are measured predictability.
  10. Any Verified references? Not some blog site touting gold but actual documents? Or at least news articles from Reuters,AP ??

    Interesting story but I do not take anything at face value without verification.
    #10     Nov 15, 2009