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Pure tungsten is a steel-gray to tin-white metal. Tungsten has the highest melting point and lowest vapour pressure of all metals, and at temperatures over 1650°C has the highest tensile strength. The metal oxidises in air and must be protected at elevated temperatures. It has excellent corrosion resistance and is attacked only slightly by most mineral acids.
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 tonnes]. 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 (gold) plated and then allegedly “sold” into the international market.
If there are 1.3 million salted 400 oz bars in existence, and each one is 75% tungsten, then that makes 390 million ounces of gold which in truth isn’t there. At $1,660 per ounce, that’s over $600 billion which people think they own but don’t. To put that number in context, it’s roughly half the total quantity of subprime mortgages which had been issued at the height of the housing bubble.
Among the many factions of Americans who believe the country is headed in the wrong direction, one fervent group traces its wrong turn back to Aug. 15, 1971. On that day, President Nixon eliminated the gold standard — a monetary system in which dollars were backed by and could be exchanged for a fixed amount of gold. Since then, the United States has used a fiat currency, in which dollars are valuable simply because the government says they are.
A recent upsurge in pining for the gold standard among tea partiers and libertarians has led 13 conservative states to adopt or consider laws in the past year that would allow gold and silver coins to be used as legal tender. Meanwhile, Republican presidential candidates Ron Paul and Newt Gingrich are both urging policymakers to consider a nationwide return to the gold standard
news.yahoo.com...
Originally posted by windword
If we aren't using the "Gold Standard" what is gold at, or not at, Fort Knox all about. Is it for foreign debts?
Originally posted by Aleister
Chinese who seemingly are openly faking the gold bars should be both arrested and given personality tests to see why they are so conniving and living without principles of fairness and honesty.
Originally posted by The 5th
Originally posted by Aleister
Chinese who seemingly are openly faking the gold bars should be both arrested and given personality tests to see why they are so conniving and living without principles of fairness and honesty.
Your right, all Chinese people are responsible for these forgeries and social stereotypes should be applied.