March 26, 2012
from
SilverDoctors Website
In the biggest news we've broke since the JP
Morgan whistle-blower stepped forward, Australian Bullion Dealer ABC Bullion
has contacted SD-Silver Doctors to advise that one of its suppliers has provided them
photographic evidence of a tungsten filled 1 kilo gold bar discovered this
week.
The bar passed a hand-held
Xrf scan which showed
99.98% pure AU.
The tungsten was only discovered when the bar was physically
cut in half.
After numerous reports of 400 oz tungsten filled bars being discovered in
Hong Kong, this is the first documented and verified report with
photographic evidence that has been made public.
Submitted by
Australian Bullion Dealer ABC Bullion (or
from
here):
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.
The two halves of the cut
bar
Now that we have confirmed documentation
that 1 kilo gold bars have been drilled out and filled with tungsten,
look for a rapid scramble to verify the AU contents of 400oz bars which
reportedly have also been tainted with tungsten (the market is 'stuffed
full' of gold plated tungsten 400oz bars according to
Rob Kirby).
For those unfamiliar with the original reports that 60 metric tons of
400oz 'good delivery' bars were gutted and filled with tungsten, and
swapped with US Treasury gold at Fort Knox in a highly sophisticated
plan, an excerpt of his 2009 piece is included below:
The amount of “salted tungsten” gold bars in question was allegedly
between 5,600 and 5,700 - 400 oz - good delivery bars [roughly 60 metric
tons].
This was apparently all highly orchestrated by an extremely well
financed criminal operation.
Within mere hours of this scam being identified - Chinese officials had
many of the perpetrators in custody.
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 tons].
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.
The balance of this 1.3 million-1.5 million 400 oz tungsten cache
was also plated and then allegedly “sold” into the international
market.
Apparently, the global market is literally “stuffed full of 400 oz
salted bars”.
Makes one wonder if the Indians were smart
enough to assay
their 200 tons haul from the IMF?
-
Gold Warning -
Tungsten Filled Fake Gold Bars
by Rob Kirby
November 12, 2009
from
MarketOracle Website
I’ve already reported on irregular physical gold settlements which occurred
in London, England back in the first week of October, 2009.
Specifically, these settlements involved the
intermediation of at least one Central Bank [The Bank of England] to resolve
allocated settlements on behalf of J.P. Morgan and Deutsche Bank - who DID
NOT have the gold bullion that they had sold short and were contracted to
deliver.
At the same time I reported on two other unusual
occurrences:
-
irregularities in the publication of the
gold ETF-GLD’s bar list from Sept.25-Oct.14 where the length of
the bar list went from 1,381 pages to under 200 pages and then back
up to 800 or so pages.
-
reports of 400 oz. “good delivery”
bricks of gold found gutted and filled with tungsten within the
confines of LBMA approved vaults in Hong Kong.
Why Tungsten?
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.
Unfortunately, there are now more sordid details
to report.
When the news of tungsten “salted” gold bars in Hong Kong first surfaced,
many people who I am acquainted with automatically assumed that these bars
were manufactured in China - because China is generally viewed as “the
knock-off capital of the world”.
Here’s what I now understand really happened:
The amount of “salted tungsten” gold bars in
question was allegedly between 5,600 and 5,700 - 400 oz - good delivery
bars [roughly 60 metric tons].
This was apparently all highly orchestrated by an extremely well
financed criminal operation.
Within mere hours of this scam being identified - Chinese officials had
many of the perpetrators in custody.
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 tons].
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.
The balance of this 1.3 million - 1.5 million
400 oz tungsten cache was also plated and then allegedly “sold” into the
international market.
Apparently, the global market is literally “stuffed full of 400 oz salted
bars”.
Makes one wonder if the Indians were smart enough to assay their 200 tons
haul from the IMF?
A Slow Motion Train
Wreck, Years in the Making
An obscure news item originally published in the N.Y. Post [written by
Jennifer Anderson] in late Jan. 04 has always ‘stuck in my craw’:
DA investigating NYMEX executive
Manhattan, New York, district attorney's
office, Stuart Smith
Melting Pot - Brief Article - Feb. 2,
2004
A top executive at the New York Mercantile Exchange is being
investigated by the Manhattan district attorney. Sources close to the
exchange said that Stuart Smith, senior vice president of operations at
the exchange, was served with a search warrant by the district
attorney's office last week.
Details of the investigation have not been
disclosed, but a NYMEX spokeswoman said it was unrelated to any of the
exchange's markets. She declined to comment further other than to say
that charges had not been brought.
A spokeswoman for the Manhattan district
attorney's office also declined comment.
The offices of the Senior Vice President of
Operations -
NYMEX - is exactly where you would go to find the records
[serial number and smelter of origin] for EVERY GOLD BAR ever PHYSICALLY
settled on the exchange.
They are required to keep these records.
These precise records would show the lineage of
all the physical gold settled on the exchange and hence "prove" that the
amount of gold in question could not have possibly come from the U.S. mining
operations - because the amounts in question coming from U.S. smelters would
undoubtedly be vastly bigger than domestic mine production.
We never have found out what happened to poor ole Stuart Smith - after his
offices were "raided" - he took administrative leave from the NYMEX and he
has never been heard from since. Amazingly [or perhaps not], there never was
any follow up on in the media on the original story as well as ZERO
developments ever stemming from D.A. Morgenthau’s office who executed the
search warrant.
Are we to believe that NYMEX offices were raided, the Sr. V.P. of operations
then takes leave - all for nothing?
These revelations should provide a “new filter” through which
Rothschild
exiting the gold market back in 2004 begins to make a little more sense:
“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
Coincidentally [or
perhaps, not?], GLD Began Trading 11/12/2004
In light of what has occurred - regarding the Gold ETF, GLD - after
reviewing their prospectus yet again, it becomes pretty clear that GLD was
established to purposefully deflect investment dollars away from
legitimate gold pursuits and to create a stealth, cesspool/catch-all,
slush-fund and a likely destination for many of these “salted tungsten bars”
where they would never see the light of day - hidden behind the following
legalese “shield” from the law:
Excerpt from
The GLD Prospectus on page 11:
Gold bars allocated to the Trust in connection with the creation of a
Basket may not meet the London Good Delivery Standards and, if a Basket
is issued against such gold, the Trust may suffer a loss.
Neither the Trustee nor the Custodian
independently confirms the fineness of the gold bars allocated to the
Trust in connection with the creation of a Basket. The gold bars
allocated to the Trust by the Custodian may be different from the
reported fineness or weight required by the LBMA’s standards for gold
bars delivered in settlement of a gold trade, or the London Good
Delivery Standards, the standards required by the Trust.
If the Trustee nevertheless issues a Basket
against such gold, and if the Custodian fails to satisfy its obligation
to credit the Trust the amount of any deficiency, the Trust may suffer a
loss.
The Fed Has Already
Been Caught Lying
Liberty Coin’s Patrick Heller recently
wrote,
Earlier this year, the Gold Anti-Trust
Action Committee (GATA), filed a second Freedom of Information Act (FOIA)
request with the Federal Reserve System for documents from 1990 to date
having to do with gold swaps, gold swapped, or proposed gold swaps.
On Aug. 5, The Federal Reserve responded to this FOIA request by adding
two more documents to those disclosed to GATA in April 2008 from the
earlier FOIA request. These documents totaled 173 pages, many parts of
which were redacted (covered up to omit sections of text). The Fed's
response also noted that there were 137 pages of documents not disclosed
that were alleged to be exempt from disclosure.
GATA appealed this determination on Aug. 20.
The appeal asked for more information to
substantiate the legitimacy of the claimed exemptions from disclosure
and an explanation on why some documents, such as one posted on the
Federal Reserve Web site that discusses gold swaps, were not included in
the Aug. 5 document release.
In a Sept. 17, 2009, letter on Federal Reserve System letterhead,
Federal Reserve governor Kevin M. Warsh completely denied GATA's
appeal. The entire text of this letter can be examined at
http://www.gata.org/files/GATAFedResponse-09-17-2009.pdf.
The first paragraph on the third page is the most revealing.
Warsh wrote,
"In connection with your appeal, I have
confirmed that the information withheld under exemption 4 consists
of confidential commercial or financial information relating to the
operations of the Federal Reserve Banks that was obtained within the
meaning of exemption 4.
This includes information relating to
swap arrangements with foreign banks on behalf of the Federal
Reserve System and is not the type of information that is
customarily disclosed to the public. This information was properly
withheld from you."
This paragraph will likely be one of the
most important news stories of the year.
Though not stated in plain English, this paragraph is an admission that
the Fed has in the past and may now be engaged in trading gold swaps.
Warsh's letter contradicts previous Fed statements to GATA denying that
it ever engaged in gold swaps during the time period between Jan. 1,
1990 and the present.
[Perhaps most importantly],
this was GATA's second FOIA request to the Federal Reserve on the issue
of gold swaps. The 173 pages of documents received for the 2009 FOIA
request all pre-dated the 2007 FOIA request, which means they should
have been released in the response to the earlier FOIA request.
This establishes a likelihood that
the Federal Reserve has failed to adequately search or disclose relevant
documents. Further, the Fed response admitted that it had copies of
relevant records that originally appeared on the Treasury Department Web
site, but failed to include them in its response.
Now that Federal Reserve governor Warsh has
admitted that the Fed has lied in the past about the Fed’s involvement with
gold.
It should now be very clear to everyone why the
Fed is lying and the true nature of what they are hiding/withholding.
On Doing God’s Work
An important footnote to consider is the inter-twined-ness of the U.S.
Federal Reserve and the U.S. Treasury [can anyone really tell them apart?]
as well as this duopoly’s two principal agents,
-
J.P. Morgan-Chase
-
Goldman Sachs
When one truly grasps the nature of these highly
conflicted relationships it gives a fuller meaning to words recently uttered
by Goldman head, Lloyd Blankfein, who claimed,
“I’m doing god’s work”
Does this really mean that Mr. Blankfein
believes that the Federal Reserve is god? You can judge for yourself.
While the Fed prints money like no one else
could - except god almighty himself [or
Gideon Gono, perhaps?] - I really doubt
that was the intent back in 1864, when the U.S. adopted “In
God We Trust” as their official motto.
And that’s my two cents worth for today.
Got [real] physical gold yet?
