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Mint's $15.3 M Golden Dilemma: Was There A Heist?

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posted on Jul, 1 2009 @ 02:17 PM
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Mint's $15.3 M Golden Dilemma: Was There A Heist?


www.ottawacitizen.com

The distinct possibility that precious metals may have been stolen from the Royal Canadian Mint is "inexcusable," the federal minister responsible for the Crown corporation said Monday.

The findings of a long-awaited external audit, released earlier in the day, concluded that $15.3 mill in missing gold is not the result of accounting or bookkeeping errors, raising even more questions about the whereabouts of the metals from what has been touted as one of the most secure facilities in Canada
(visit the link for the full news article)




posted on Jul, 1 2009 @ 02:17 PM
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"The mint will be held accountable."


About 17,500 troy ounces of gold, which represents 0.32 per cent of the mint's stock, were unaccounted for, the report said. "A higher amount of gold should be on hand than the physical amount of gold counted," it said. (Gold is measured in troy ounces, which is heavier than the much more common avoirdupois ounce used for measuring weights in food.)

The $15.3-million figure is based on gold prices on Dec. 31, 2008, the mint's fiscal year-end date. At Monday's prices, the precious metals would be worth about $16.3 million.


The Royal Canadian Mint says the precious metals seem to have vanished from its inventory in the 2008 fiscal year.

This is not the first time I have read about this type of thing happening. The Comex is also having trouble, although there has not been an audit.

I would say it is time to call your gold, and buy a safe. No one can be trusted anymore.


www.ottawacitizen.com
(visit the link for the full news article)



posted on Jul, 1 2009 @ 02:21 PM
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Seeing the Mercer Report a couple of months back, he did joke about taking some with him...maybe it wasn't a joke.



posted on Jul, 1 2009 @ 02:33 PM
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mabey its on a skull and cross-boned island under a water fall?


yar....



posted on Jul, 1 2009 @ 02:53 PM
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That's quite a bit of gold to go "missing"!

17,500 troy ounces is 1,200 pounds or just over a half a (US) ton.

OnlineConversion

That's an awful lot of pockets full of gold for petty thieves to have stolen.


[edit on 7/1/2009 by Keyhole]



posted on Jul, 1 2009 @ 03:01 PM
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reply to post by Keyhole
 


Over half a ton of gold is mind-boggling. Surely some of those in charge will wind up with the fuzzy end of the lolly pop over this. As many here see conspiracy and clues in pop culture, perhaps Johnny Cash planned this heist years ago, or warned us about it. His song 'One Piece at a Time' tells you how to do it. That the song is about stealing a Cadillac is a further hint, since gold is the Cadillac of metals.



posted on Jul, 1 2009 @ 03:07 PM
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Originally posted by Viking04
reply to post by Keyhole
 


Over half a ton of gold is mind-boggling. Surely some of those in charge will wind up with the fuzzy end of the lolly pop over this. As many here see conspiracy and clues in pop culture, perhaps Johnny Cash planned this heist years ago, or warned us about it. His song 'One Piece at a Time' tells you how to do it. That the song is about stealing a Cadillac is a further hint, since gold is the Cadillac of metals.


Yes very good analysis! I was thinking along similar vein...
One thing for sure, whoever took it will be sweating now! I doubt that amount of gold is easy to unload...

I am sure they are investigating everyones bank accounts about now.
Whoever it was, if they had any desire to get away with it, would still
be sitting on it, or would have had a fool proof way to liquidate it, or invest it. Of course there is always the black market...but still, then you would be sitting on a pile of cash, or a secret Swiss bank account...or...
a Treasure Chest on an island as someone mentioned.

16.3 Million...wow!



posted on Jul, 1 2009 @ 03:18 PM
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IT WAS MEEEEEE!!!!

i freakin wish. i could do a lot with half a ton of gold.

like plate my house, truck, dog, xbox, clothes, teeth, fingernails, and toenails. build a desk from solid gold, and still have enough to bury in 30 diffferent locations.

mainly i would just make little figurines of myself and sell them on ebay.

Who wants a limited edition with serial # and proof of authenticity?? any takers?? no? oh well, i can keep them together and play "land of me". my favorite game....



posted on Jul, 1 2009 @ 03:19 PM
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All kidding aside, if this indeed is a theft by one gang, their own greed will likely do them in. If they are smart, they will continue to live normal lives, perhaps open a small business and launder the take through that. Heck, they could open a pawnshop, buy scrap gold, and drip a little through every now and again. If they treated it like any other income, paying taxes and all of that, they would likely never be caught, and the business itself would cover the new income.

However, they will probably be like the bunch that robbed an armored car company around here a decade or so back, blowing tons of money, living the high life, generally calling attention to themselves.



posted on Jul, 6 2009 @ 08:31 AM
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reply to post by Viking04
 


yeah but to go with your plan takes intelligence, and most people just dont have it.

is giving criminal advice legal? just wondering...



posted on Jul, 6 2009 @ 08:58 AM
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That is a lot of gold to just vanish. I'm sure the Canadian authorities are knocking some heads together to find the culprit. How would you find a fence to get rid of all that and do it under the radar? That is a lot of weight and it would be hard to go unnoticed over time. Whoever is responsible should be shaking in their boots. The only thing I could think of is burying it somewhere for years in hoping the dust settles. However, I am sure the government is watching heavy equipment rentals like hawks.

Let me put my tin hat on for a moment, maybe it is illicit elements in the Canadian government that ran off with the gold? If that is the case, that would be truly frightening because who knows what they are using the gold for. I can only see people with a highly sophisticated scheme to pull this off and with highly trained man-power and personally I think it would have to be a foreign government or the Canadian government to pull this off. This heist is not like a thief robbing a jewelry store.

[edit on 6-7-2009 by Jakes51]



posted on Jul, 6 2009 @ 09:27 AM
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Originally posted by Jakes51

Let me put my tin hat on for a moment, maybe it is illicit elements in the Canadian government that ran off with the gold? If that is the case, that would be truly frightening because who knows what they are using the gold for.


Let's count the ways

1) The war effort
2) Attack ads and impending threats of a new election
3) The shortfall for Employment Insurance payments (remember the 50+ billion recently removed from the fund?)

Would you put it past the Harper guvmint?



posted on Jul, 6 2009 @ 09:34 AM
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The thieves will sell it in small chunks at a time. I believe it's fairly easy to melt and better than cash in most cases. I estimate 15 million dollars worth of gold, while heavy, could be moved in a van or sturdy truck. I remember seeing on TV, a brick of gold bullion (the size of a red brick) weighs around 50lbs ! So 17,500 troy ounces, would only be around 25 bricks. It has to be an inside job. How embarrassing for the Canadian Mint.



posted on Jul, 6 2009 @ 10:07 AM
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I worked with Bullion both bars and coins for the Bank I work for , I was there in the vaults for about 8 years. SO I can speak from authority when I say that if I ( not admitting anything) wanted to 'abscond' with either bars or coins I could have.
Personnel are security cleared to work with these assets, but there is still going to be the temptation , even I had the temptation to a point, I thought of the ways that I could have got the items out, then I told the management of the ways it could be done. The staff I worked with back then are some of the most honest I have ever met whilst working with bullion. ( and we held cash as well ( enough to restock the UK completly).

To get bars or coins out wouldn't be all that difficult if there aren't any proper security measurements in place, such as lockers outside the secure area for bags, uniform outfits with pockets. body scanning wands, and sufficient security personnel to check the staff that worked there including random searches.

Back in the day, I could have got out with a gold bar and no one would have been any the wiser until an audit and even then they wouldn't know who took it. There were blind spots on the cameras, and even the control room never took notcie and watched the staff move the bars. Something they do now though.

Coins where even easier as they are supposed to be in bags of 1000, an easy task to slit a bag and carry off a couple of coins. Taking a couple at a time will soon add up depending on how much time from the first coin going missing to when they were noticed.

If this Canadian vault isn't as tight in security measures as we are here then more fool them , to simply trust their staff. Like the banknote robbery at the Bank of England printing works, where notes that were supposed to be destroyed were being taken out the bins by the dishonest staff simply because their management trusted them to do the job and after all they were security cleared.

Once you work with these assets then to be honest every single person WILL think of ways to get them out, its up to the morals of the person whether or not they actually do though. It wasn't worth doing because of the rish to my career , future OR pension to even bother trying, besides it would only have been worth about a 10th of what it really would have been on the black market. So for example a sovereign coin worth £70 would only have netted me about 10-20 quid even though its gold, you wouldn't want to fence it legally would you?




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