Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Tungsten-Filled 1 Kilo Gold Bar Found In The UK
#1

Tungsten-Filled 1 Kilo Gold Bar Found In The UK

[Image: picture-5.jpg]
Submitted by Tyler Durden on 03/24/2012 16:50 -0400



The last time a story of Tungsten-filled gold appeared on the scene was just two years ago, and involved a 500 gram bar of gold full of tungsten, at the W.C. Heraeus foundry, the world's largest metal refiner and fabricator. It also became known that said "gold" bar originated from an unnamed bank. It is now time to rekindle the Tungsten Spirits with a report from ABC Bullion of Australia, which provides photographic evidence of a new gold bar that has been drilled out and filled with tungsten rods, this time not in Germany but in an unnamed city in the UK, where it was intercepted by a scrap metals dealer, and was supplied with its original certificate. The reason the bar attracted attention is that it was 2 grams underweight. Upon cropping it was uncovered that about 30-40% of the bar weight was tungsten. So two documented incidents in two years: isolated? Or indication of the same phenomonenon of precious metal debasement that marked the declining phase of the Roman empire. Only then it was relatively public for anyone who cared to find out on their own. Now, with the bulk of popular physical gold held in top secret, private warehouses around the world, where it allegedly backs the balance sheets of the world's central banks, yet nobody can confirm its existence, nor audit the actual gold content, it is understandable why increasingly more are wondering: just how much gold is there? And alongside that - while gold, (or is it GLD?), can be rehypothecated, can one do the same with tungsten?
From ABC Bullion:
ABC Bullion received the following email from one of our trusted suppliers this week.

Note:
  • It was not ABC Bullion that purchased this bar, the email and photos were sent to us as a general warning.
  • I xxxx'ed out the city's name to avoid any second guessing as to the name of the dealer.

19/03/2012:

Attached are photographs of a legitimate Metalor 1000gm Au bar that has been drilled out and filled with Tungsten (W).

This bar was purchased by staff of a scrap dealer in xxxxx, UK yesterday. The bar appeared to be perfect other than the fact that it was 2gms underweight. It was checked by hand-held xrf and showed 99.98% Au. Being Tungsten, it would not be ferro-magnetic. The bar was supplied with the original certificate.

The owner of the business that purchased the bar only became suspicious when he realized the weight discrepancy and had the bar cropped. He estimates between 30-40% of the weight of the bar to be Tungsten.

This is very worrying and reinforces the lengths that people are willing to go to profit from the current high metal prices. Please be careful.
Photos of the cropped bars: 1000g Gold bar cut showing inserted tungsten rods
[Image: bar3_0.jpg]
Two halves of the cropped bar:
[Image: Bar4_0.jpg]
[Image: Bar2_0.JPG]
Finally, some observations from Paul Mylchreest on debasement:
Let's consider the run-up to Rome's hyperinflation. I think this comment from jaysromanhistory.com "Good Money, Bad Money, and Runaway Inflation" resonates with what's happening in the US today:

"Severus Alexander (AD 222-235) tried to reform by going back to the denarius but, once started, this path of runaway inflation and financial irresponsibility on the part of the imperial government proved impossible to control."

It also seems that the hyperinflation was preceded by some kind of banking crisis, which is an interesting parallel. From "Demise and Fall of the Augustan Monetary System" by Koenraad Verboven:

"Papyri show it was common for private individuals to deposit money at a bank and to make and accept payments through bankers.Bankers in the west disappear from view around the middle of the 3rd c… A famous papyrus from Oxyrhynchus from 260 CE shows exchange bankers closing in order to avoid having to change the imperial money'. The strategos ordered the exchange bankers to reopen and accept all genuine coins and warned businessmen to do the same. In 266 CE we find for the first time transactions being expressed in ptolemaeic' or old silver' as opposed to new silver'."

The chart shows how inflation remained relatively subdued until a tipping point was reached in the late- 260s A.D Monetary systems can absorb substantial abuse before there is a dramatic impact on the price level. For example, the debasement of the coinage was already accelerating in the early part of the third century A.D., before plunging in the latter part. Indeed, the chart below (apologies for the quality) only shows the trend up to 253 AD. By around 290 AD, the coins were only dipped in silver to give them a coating (<0.5%):
[Image: TR%202.jpg]


[URL="http://www.zerohedge.com/news/tungsten-filled-1-kilo-gold-bar-found-uk"]

http://www.zerohedge.com/news/tungsten-f...r-found-uk[/URL]
"The philosophers have only interpreted the world, in various ways. The point, however, is to change it." Karl Marx

"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.

“I think it would be a good idea” Ghandi, when asked about Western Civilisation.
Reply
#2
Well, according to the Philosopher Priests of Free Market Capitalism:

I am greedy, therefore I am

This is the Ruling Theology, the Dominant Paradigm: it Must Not Be Challenged.

So it goes....
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."

Gravity's Rainbow, Thomas Pynchon

"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
Reply
#3
:pointlaugh:One wonders how MANY of those bank vaults are filled with gold-covered bricks of other metals.....Dance
"Let me issue and control a nation's money and I care not who writes the laws. - Mayer Rothschild
"Civil disobedience is not our problem. Our problem is civil obedience! People are obedient in the face of poverty, starvation, stupidity, war, and cruelty. Our problem is that grand thieves are running the country. That's our problem!" - Howard Zinn
"If there is no struggle there is no progress. Power concedes nothing without a demand. It never did and never will" - Frederick Douglass
Reply


Possibly Related Threads…
Thread Author Replies Views Last Post
  Where's the Gold - odd things happening down at the Comex Chris Bowen 36 16,235 17-01-2013, 08:39 PM
Last Post: Jan Klimkowski
  New U.S. strategy: Going for the gold (Wayne Madsen) Ed Jewett 0 3,708 29-09-2011, 07:34 AM
Last Post: Ed Jewett
  Venezuela Asserts Control of Gold Mining Industry Carsten Wiethoff 1 1,991 20-09-2011, 10:20 AM
Last Post: Magda Hassan
  U.S government Confiscating rare gold coins...worth millions of dollars Bernice Moore 4 4,247 01-09-2011, 05:07 AM
Last Post: Bernice Moore
  How to get $12 billion of gold to Venezuela Magda Hassan 0 1,690 25-08-2011, 03:40 PM
Last Post: Magda Hassan
  Former Goldman Commodities Research Analyst Confirms LMBA OTC Gold Market Is "Paper Gold" Ponzi Magda Hassan 0 1,719 29-03-2010, 01:22 PM
Last Post: Magda Hassan
  Did the ECB Save COMEX from Gold Default? Peter Presland 0 1,866 03-04-2009, 11:53 AM
Last Post: Peter Presland
  NYSE Runs Out of Gold Bars: What Happens Next? Peter Presland 29 11,301 02-04-2009, 08:32 AM
Last Post: Peter Presland
  Maidoff's Biggest Investor & Beneficiary Found Dead! Peter Lemkin 0 2,813 Less than 1 minute ago
Last Post:
  BIS Engaged in Gold Swaps to About 380 Tonnes Magda Hassan 0 2,684 Less than 1 minute ago
Last Post:

Forum Jump:


Users browsing this thread: 1 Guest(s)