There have been wild rumors about the world's gold reserves for years - being faked with tungsten. This latest discovery, involving some reputable dealers, could start a panic.
metatron
Potential Panic About Gold
by metatron 34 Replies latest jw friends
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hoser
It doesn't really matter, as long as you don't get stuck with a fake bar. There may be a blip in the gold market because of this, but in the big scheme of things it is no different than counterfeit money.
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MrFreeze
Uh oh, don't tell Ron Paul. There's gold up in them there hills!
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hoser
Is Ron Paul the guy who figures we should go back on a gold standard for money?
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MrFreeze
Ron Paul is all about the gold standard.
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hoser
Well good luck with that one. That train left the station a looooong time ago.
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metatron
Counterfeit cash is a lot easier to detect and finding recourse for those that bought fake bars is not always clear. If they find 1000oz bars that are faked, look out below.
metatron
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hoser
maybe everyone will panic and "sell" and we can buy some cheap gold
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Glander
Heard a very interesting discourse that said with all the paper money being printed worldwide, gold will continue to rise in value. (This was not a gold sales infomercial.)
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Nambo
Its not just Ron Paul, there is a general idea to go back on the Gold standard in order to aliveate the loss of confidnce in the fiat monetary system , the main obstacle is so little gold is mined these days that it wouldnt be able to keep up with growth.
Here in the UK, I was speaking to a Member of Parliament only last week who told me he was giving a talk on going back to the Gold standard as was George Osbourne, I said surely there isnt enough Gold in the world to cover the huge monetary debt, he said they would just have to put the price up! and I would be a millionaire!
Regarding the above article, were it says the bars were "hollowed out", looking at the pictures, I cannot see that this is the case, the Gold covering is so thin it wouldnt hold it shape if it was hollowed out this much, I thing these have been cast over tungstun ingots. The previous Tungstun scare claimed it was somebody at the very highest levels of this industry who were behind this, with the implication being most of the Gold at Fort Knox doesnt actually exist, its just tungsten that was never meant to be sold, just shown in order to create confidence in the dollar.