Blight on Humanity Addendum

hello ,
not what I thought would be my first ATS thread,but I just came across this on the net and searching here drew a blank so thought it important info to share with you all even though I'm about to go to bed and not be able to offer any more input until tomorrow.

newsgoldseek.com

Posted Thursday, 15 October 2009 | Source: GoldSeek.com By: Rob Kirby Earlier this week, I wrote about possible “incongruities” in the gold bar registry of GLD. Specifically, here is what has happened to the GLD bar list which is published each Friday at approximately 4:30 pm EST. An alert reader I communicate with [who shall remain anonymous] has been documenting the length of the published GLD bar list: -
on Friday, Sept. 25 – the list was 1,381 pages long -
on Friday, Oct. 2 – the list was 208 pages long -
on Friday, Oct. 9 – the list was 195 pages long -
then, on Wednesday, Oct. 14 – after questions were being raised about the strange machinations with the bar list in chat rooms on the internet – the list was back up to 855 pages long Something TRULY stinks here. No explanation has been offered for the DRAMATIC swings in this list. Where gold is concerned nothing happens by accident.

this is huge in itself .
But the author of the article goes on to say (unfortunately no link back to the statement);

I discussed these irregularities with a very informed source [the same one who informed me of specific [allocated] trades settled last week] and the reply I received was as follows: “What can I tell you that you don't already know? They are all scrambling big time since a number of large interests have demanded audits. Independent auditors are NOW descending onto the various vaults to verify, validate and certify. They can move this as many times in circles as they like to try to fool people. In an Asian depository they’ve found “Good Delivery” bricks that had been gutted and filled with tungsten. Soon, there will be xxxx hitting the fan all over place.”

What??!!! Tungsten?
Love to see the source for that statement, very scary if true.

I originally found this info in a blog I follow here;
www.marketskeptics.com...

Some very interesting comments posted below the blog.
If this is true,looks like many various predictions for October may well come true.
Time to prepare methinks if you haven't already.

wow gold bars filled with tungsten. something very shifty there is occuring.

SHTF is an understatement....

Hope those Auditors find the bottom of it..

Very interesting indeed.

I wonder what the implications are if its all true and gets out..

www.freedomsphoenix.com...

How to Make Convincing Fake-Gold Bars

www.popsci.com...

Now, for me the more interesting question is, how do you make a fake gold bar that at least passes the pick-it-up test? The problem is that there are very few metals that are as dense as gold, and with only two exceptions they all cost as much or more than gold.
The first exception is depleted uranium, which is cheap if you're a government, but hard for individuals to get. It's also radioactive, which could be a bit of an issue.

The second exception is a real winner: tungsten. Tungsten is vastly cheaper than gold (maybe $30 dollars a pound compared to $12,000 a pound for gold right now). And remarkably, it has exactly the same density as gold, to three decimal places. The main differences are that it's the wrong color, and that it's much, much harder than gold. (Very pure gold is quite soft, you can dent it with a fingernail.)

A top-of-the-line fake gold bar should match the color, surface hardness, density, chemical, and nuclear properties of gold perfectly. To do this, you could could start with a tungsten slug about 1/8-inch smaller in each dimension than the gold bar you want, then cast a 1/16-inch layer of real pure gold all around it. This bar would feel right in the hand, it would have a dead ring when knocked as gold should, it would test right chemically, it would weigh *exactly* the right amount, and though I don't know this for sure, I think it would also pass an x-ray fluorescence scan, the 1/16" layer of pure gold being enough to stop the x-rays from reaching any tungsten. You'd pretty much have to drill it to find out it's fake. (Unless, of course, central bank gold inspectors are wise to this trick and have developed a test for it: Something involving speed of sound say, or more powerful x-rays, or perhaps neutron activation analysis. If bars like this are actually a common problem, you certainly could devise a quick, non-destructive test for them, and for all I know, they have. Except, apparently, in Ethiopia.)

Such a top-quality fake London good delivery bar would cost about $50,000 to produce because it's got a lot of real gold in it, but you'd still make a nice profit considering that a real one is worth closer to $400,000. A lower budget version could be made by using the same under-sized tungsten slug but casting lead-antimony alloy around it (to match the hardness, sound, and feel of gold), then electroplating on a heavy coating of gold. Such a bar would still feel and sound right and be only very slightly underweight, while costing less than $500 to produce in quantity. It would not pass x-ray fluorescence, and whether it passes a chemical test would depend on how thick the electroplating is.

This is the solution I recommended for Cobra Gold, because they only needed their fake gold to pass a field inspection, which is to say, someone picking it up and knowing what gold should feel like when you lift it. You may quibble for other aspects of the plot if you like, but I think the fake gold would have worked.

news.goldseek.com...

“What can I tell you that you don't already know?

They are all scrambling big time since a number of large interests have demanded audits. Independent auditors are NOW descending onto the various vaults to verify, validate and certify.

They can move this as many times in circles as they like to try to fool people.

In an Asian depository they’ve found “Good Delivery” bricks that had been gutted and filled with tungsten.

Soon, there will be xxxx hitting the fan all over place.”


Are they moving fake gold around to fool the auditors? If so, how do you deal with serial numbers?

I cannot find the source yet but I think George Ure talked about this possible gold "hoax" months back. Still trying to find his comments and referenced article.

urbansurvival.com...

other than that if you as a joe doe try to purchase gold you can only get it in shops at a much higher rate, privately but then how do you know what it is worth? and you can buy stocks in gold eg you go online and purchase gold that never left the vaults and never will and therefore is claimed to be secure and pure, not losing its true value. These vaults are in a secret place. Now what if someone were to steal that gold from the vault? no one would know if there was any gold in there in the first place and how much gold was there. These online companies sell you gold at the current price. They do not state where they get the gold from and how come they can still sell if it has been in the vault for so long, all should have been sold with the goldrush that is going on.

Has anyone charted Tungsten mining and sales over, say, the last 20 years?

Why do you think every other commercial on TV is "TURN YOUR GOLD INTO CASH!" ???

They are scrambling to restock the reserves that they looted years ago!

reply to post by liveandletlive


And the technology already exists to create such tungsten bars ;

www.tungsten-alloy.com...

www.chinatungsten.com...

"Are they moving fake gold around to fool the auditors? If so, how do you deal with serial numbers? "

I'm not sure what the deal is .
But I imagine the implication if true of finding tungsten gold bars in asian vaults is that some bars are melted down to coat these tungsten bars so no doubt they would get around serial numbers by just stamping them accordingly ?
And since it seems it's several concerned parties using several independant auditors, and at different vaults, they would have to all share notes for it to be exposed , duplicate numbers that is ?
The mind boggles....and what about all that missing gold from canada's vault ...they still can't find that (if it ever existed),how does that fit into the equation,is that been passed around to hide discrepancies or given to China to use to coat these tungsten bars ?

I mean go back to the original ETF trade lists in the op,
I can't believe this hasn't been blown out already... months ago really!
Simple mathematics says every ounce of gold held in these vaults has four owners .....it's shown beautifully in the following article at Gata,...
I ended up there trying to discover who this Rob Kirby is and what his credibility levels are,turns out he's one of Gata'a own consultants, and for them to repeat what he says on their website in this article , well, now that makes the tungsten thing closer to truth than fiction to me.

How much imaginary gold has been sold?

On October 10 I published an article that postulated that the gold market is a Ponzi scheme because it sells gold that doesn't exist by implementation of the principles of fractional reserve banking. (See www.gata.org...) Since writing that article further information has come to light that supports this claim and allows an estimate of how much gold has been sold that doesn't exist if the owners of the gold ask for it. In other words, there are several owners for each ounce of physical gold.

That people are buying and selling gold without ever taking delivery means that there is the opportunity for bullion houses to sell gold that doesn't exist.


Now the bullion houses probably don't view this as illegal or dishonest because they will operate a fractional reserve type of system, just as the banks do with fiat currency, and will make sure they have enough gold on hand for what would be the maximum estimated volume of gold that could be called for delivery. After all, trading is done with unallocated gold, so how much more unallocated can it get if it doesn't exist at all?

This basic scam is at the center of modern gold market manipulation. Instead of real gold, paper substitutes for gold are sold through derivatives, futures, pooled accounts, exchange-traded funds, gold certificates, etc. I estimate that each actual physical ounce of gold has multiple ownership claims to it.

For the scam to be sustained there must always be plentiful physical gold for those who want it. The market is, in effect, a giant inverted pyramid with a huge paper gold market being supported by a small amount of physical gold at the tip of the inverted pyramid. The scam can continue until there are indications of a shortage of physical gold. If all the claimants of each ounce of real gold demand their gold, then there is the potential for a squeeze such as has never been seen before. To lend support to the idea that all the gold in the world has been sold several times over I cite the case of Morgan Stanley, which was sued in 2005 for selling non-existent precious metals. Morgan Stanley even had the audacity to charge storage fees. The firm settled the class-action lawsuit out of court but no criminal charges were ever filed. If Morgan Stanley was doing this, you can bet that it is the tip of the iceberg.

So we have allegedly tungsten good delivery bars in vaults,
over leveraging on the etf/gold certificates etc .
confliction and contradictions all round between what should be there and what they say is there.

But as discussed above, the daily volume traded does not in and of itself prove that a fraudulent fractional reserve operation is being conducted. Mylchreest did some more work using statistics from the GFMS metals consultancy to determine the maximum quantity of gold stock the OTC market could be holding with which it can back the huge daily trade volume. The gold that is traded has to be in the form of London Good Delivery (LGD) bars, which are 400-ounce bars. Mylchreest estimates that there can be only about 15,000 tonnes of such bars in the world. Let us assume that the London OTC market holds them all. We will show that by comparison with the trading of other unallocated gold products that 15,000 tonnes is nowhere near enough gold stock for the gold not to have more than one ownership claim to each ounce.

Gata article continued

Probably the GLD comparison is the most relevant, as that exchange-traded fund claims to hold 1,100 tonnes gold, which is comparable to the maximum 15,000 tonnes that could be held by the OTC participants. However, the OTC is restricted to wholesale traders and has a minimum trade limit of 1,000 ounces. In GLD the minimum trade is a tenth of an ounce and trading is open to everyone. Considering these limitations it is likely that OTC participants would turn over a lot less than 1/30th of the inventory in a day. But even taking the GLD estimate, the OTC participants should be holding 64,000 tonnes when according to what can be deduced from GFMS statistics they can be holding only 15,000 tonnes.

Read this whole article ,paints a very clear picture.
The cat's out of the bag,it's not any week now for TSHTF, it's any day this week in my opinion.
The Tungsten aspect is the icing on the cake to what will be the biggest financial scandal of all time.
I really don't think TPTB will achieve their NWO.They've lost control.

reply to post by Iamonlyhuman


Well that's an excellent train of thought Iamonlyhuman.
So I looked and here's a 5 year chart







sorry not sure how to embed it.
Kinda tells it's own story, that yes backs up the op.
....steadyish around 32 usd/kg from late 2006 right up until Jan. 31st 2008 and a massive spike up to 42usd/kg, which declined on a gradient to hit a record low of 24usd/kg ,then jumped up 5 for a month or so, then back below 25,with a recent slight rise in the last month that keeps the price still well below the average prior to 2008.
Definately some strange movements there too.
You're on to something there, good one.


Further more while looking for tungsten charts I came across this article;

High gold prices force jewellers to innovate

MUMBAI: You might have to do a bit of a rethink if you thought all that glittered was gold. In fact, it could be a fusion with steel, tungsten or titanium. With gold prices now scaling new highs and affecting the demand for jewellery, manufacturers are devising new ways to propel demand and attract customers. Today, light weight jewellery seems to be in vogue and new designs that fuse gold and diamond with other metals like steel, tungsten, titanium form the new offering. Jewellers are also making use of coloured stones to make affordable pieces of jewellery pieces in an attempt to revive demand. The price of gold is up by over 20% at Rs 15,000 per 10 gm levels compared to last years’ average price of Rs 12,147. Demand for gold has taken a hit in India, a market that is considered price-sensitive. According to estimates from the World Gold Council, demand for the first quarter of the current year fell 83% to 17.7 tonnes compared to the corresponding period last year. Vinod Hayagriv, chairman, All India Gems & Jewellery Trade Federation says there is fluctuation in gold purchases apart from a drop in the quantum of gold being purchased. “I have seen few companies who are moving towards offering the option of diamond jewellery studded in metals like steel, titanium, tungsten,” he said. He is quick to add that these metals cannot be used as a replacement for gold but are instead added in the jewellery portfolio of companies.

So although msm says India is buying less due to recession and the price of gold,maybe it's more to do with a wily shift at the jeweler level to introduce a new fashion in gold jewelry.....very clever way to stay in business and profit wouldn't you say,regardless of a rising price of gold.
I believe the people will accept the new also,since they want their gold jewellery but are also suffering the effects of global financial crisis.

mmmmmmmmm.

edit to say ,yes will be very interesting what the auditors come up with,
I still think this rumour alone will be enough to pull down the whole house of cards as early as this week though

[edit on 18/10/09 by asIam]

Originally posted by 1011001
other than that if you as a joe doe try to purchase gold you can only get it in shops at a much higher rate, privately but then how do you know what it is worth? and you can buy stocks in gold eg you go online and purchase gold that never left the vaults and never will and therefore is claimed to be secure and pure, not losing its true value. These vaults are in a secret place. Now what if someone were to steal that gold from the vault? no one would know if there was any gold in there in the first place and how much gold was there. These online companies sell you gold at the current price. They do not state where they get the gold from and how come they can still sell if it has been in the vault for so long, all should have been sold with the goldrush that is going on.

Buy coins and you're safe ...from tungsten anyway.
It isn't possible for them to fake coins with it as Tungsten is a harder metal and it wouldn't stamp properly.