In October 2009, China reportedly received a large shipment of gold, containing some 6,000 bars, weighing 400 ounces each. When it was received, the Chinese government asked that tests be performed to guarantee the purity and weight of the gold bars. In this test, four small holes were drilled into the bars, and the metal was analyzed. Officials were shocked to find the bars were bogus. They contained cores of tungsten, with only an outer coating of real gold. What’s more, these gold bars, containing serial numbers for tracking, originated in the United States and had reportedly been stored in Fort Knox for years.
At first, many gold experts speculated that the fake gold must have originated in China, which is considered the world’s best knock-off producers. However, the Chinese government investigated and issued a statement pointing a finger squarely at the United States.
The Chinese claim that in 1995—during the Clinton administration (Robert Rubin, Alan Greenspan and Lawrence Summers)—between 1.3 million and 1.5 million 400-ounce tungsten blanks were manufactured by a sophisticated refiner in the United States, amounting to more than 16,000 metric tons. Some 640,000 of these tungsten blanks were then gold plated and shipped to Fort Knox, according to the Chinese, where they are said to remain to this day. The Chinese contend that the remaining collection of these 400-ounce fakes was eventually gold-plated and then “sold” into international markets.
The global market is literally “stuffed full of 400 ounce salted bars,” said one unnamed expert. “It’s enough to destroy the world markets.”
Originally posted by JohnnyCanuck
Easy to analyze...cui bono?
Who got out of gold at an opportune time?
The revelations of fake gold bars also explains another highly unusual story that also happened in 2004:
LONDON, April 14, 2004 (Reuters) — NM Rothschild & Sons Ltd., the London-based unit of investment bank Rothschild [ROT.UL], will withdraw from trading commodities, including gold, in London as it reviews its operations, it said on Wednesday.
Interestingly, GATA’s Bill Murphy speculated about this back in 2004;
“Why is Rothschild leaving the gold business at this time my colleagues and I conjectured today? Just a guess on my part, but [I] suspect something is amiss. They know a big scandal is coming and they don’t want to be a part of it… [The] Rothschild wants out before the proverbial “S” hits the fan.” — BILL MURPHY, LEMETROPOLE, 4-18-2004
Originally posted by amatrine
That is scary but not surprising.
Surprised though that they are not filled with lead, with all the stuff they send us that is tainted, we should send a little back,lol
Originally posted by Oaktree
If this were to be true, it would be huge.