This page has been archived and commenting is disabled.

African "Gold" Turns Out To Be Dust Upon Arrival In UAE; Millions In Ethiopian Central Bank Bullion Confirmed Fake

Tyler Durden's picture


Add this one to the wtf files: a headline in Emirates 24/7 is sufficient to demonstrate what ridiculous proportions goldmania has reached in various parts of the world: "Tons of gold imports turn to dust on arrival. Gold imported into the UAE by traders and investors turned out to be fake on closer inspection." Thank god for "closer inspection." The total impact of such fake gold in the UAE alone: "over $200 million."And the scariest bit: "Recent media reports suggested that several million dollars worth of
gold with the Ethiopian Central Bank turned out to be fake. These bars
of gold turned out to be gold plated steel bars."
In other news, gold everywhere else is safe until proven to be gold-plated tungsten... pending closer inspection.

More on this hilarious development from the source:

Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

Speaking to Emirates 24|7, Mohamad Shakarchi,, Managing Director of Emirates Gold, said: "A lot of people in the UAE who tried to import gold at lower prices or through dubious overseas companies have been cheated.

We have inspected many consignments from African countries, especially Ghana, and found that there is not an ounce of gold in them.

For importing pure dust or other metals with yellow colour, these traders have paid several million dirhams.”

Dubai Customs sources confirmed the incidence of fake gold imports, but did not reply to a questionnaire sent by Emirates 24|7 ten days ago.

“The concerned official is on leave,” said a spokesman.

Apparently it has gotten so bad, that the UAE no longer even tests for African-sourced gold:

Emirates Gold has stopped examining gold imported from Africa. "We send specialists to examine a gold consignment only if it is routed through a local company.

We don’t have time to waste because most of these so called gold imports are fake. The traders got greedy. They thought they were getting gold at a discounted rate.”

Mohammed said that at least five tonnes of fake yellow metal is lying with Dubai Customs.

A tonne of gold will cost approximately $40 million. Merchants estimated that the minimum loss of fake gold imported by local traders is nothing less than $200 million.

He said many clients and Dubai Customs have requested the use of company’s expertise to verify the purity of gold. “The fake gold issue has affected many people. Some of the traders got heart attack, after our inspectors said there is no gold in the tonnes of imports brought from Africa,” Mohammed said.

And the scariest part of the report:

Recent media reports suggested that several million dollars worth of gold with the Ethiopian Central Bank turned out to be fake. These bars of gold turned out to be gold plated steel bars.

And yes, the Nigerian scam is now flatly focusing on gold:

The seller can walk away at any point with virtually no risk of being caught as all contacts are via anonymous free webmail accounts accessed from Internet cafes and via prepaid mobile phones.

After the real estate and stock market investments became dull, many local investors have turned to commodity, especially gold investment, said the Chief Executive Officer of JRG Commodities, Sajith Kumar PK.

Hopefully the flight to fraud has not reached South Africa and its Krugerrands yet or there will be hell to pay (in the form of gold dust) soon enough.

h/t phanbury


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 08/16/2010 - 12:09 | 523915 doolittlegeorge
doolittlegeorge's picture

tungsten isn't worthless.  and from what my sources have told me "ethiopia has informed the UAE that they should be glad we gave you phrikkin' towel heads anything, now take your oil and shove it up yer ash."

Mon, 08/16/2010 - 13:36 | 524174 thesapein
thesapein's picture

You didn't read it. They didn't even get tungsten. The central bank had steel bars plated with gold. Still not as worthless as paper, perhaps.

Mon, 08/16/2010 - 14:54 | 524395 Rusty Shorts
Rusty Shorts's picture

Tyler, I thought I posted this, but no worries..


by Rusty Shorts
on Sun, 08/15/2010 - 10:13


"Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims."

“The fake gold issue has affected many people. Some of the traders got heart attack, after our inspectors said there is no gold in the tonnes of imports"

Tue, 08/17/2010 - 02:11 | 524416 Rusty Shorts
Rusty Shorts's picture


Mon, 08/16/2010 - 12:11 | 523924 flacon
flacon's picture

"There's gold in them there hills!"

Mon, 08/16/2010 - 12:14 | 523927 VWbug
VWbug's picture

i hear the sounds of the survivalists frantically digging up their hoard and googling 'gold field test'

Mon, 08/16/2010 - 12:27 | 523961's picture

I hear the sound of someone who, for some reason, desperately wants to convince people that the world's oldest and most trusted store of wealth is a bad, bad thing.

Mon, 08/16/2010 - 12:44 | 524005 VWbug
VWbug's picture

hehehe  naw i just enjoy the banter while i wait for trades to execute, it gets dull.

i'm fascinated (for the moment) by these survivalists and their irrational beliefs and behaviour



Mon, 08/16/2010 - 12:53 | 524035's picture

i'm fascinated (for the moment) by these survivalists and their irrational beliefs and behaviour

You're the guy who believes that the physical properties of gold can not be ascertained and you think the goldbugs are irrational? How can a man who does not believe in calipers and a scale but rather puts his faith in any contrary idea which pops into his own head (and expects others to accept these baseless ideas) be thought of as rational?

Mon, 08/16/2010 - 12:59 | 524058 VWbug
VWbug's picture

what on earth are you talking about?

You must be getting frustrated...

I believe very much in gold and have owned it (both physical and otherwise) on and off for decades.

I merely asked how the looney doomsters were sure that the gold they were buying from ebay was what it purports to be.

Sorry if I struck a nerve, maybe you are worried about something?

Mon, 08/16/2010 - 13:39 | 524183's picture

Sorry if I struck a nerve, maybe you are worried about something?

Not in the least. Got any other tricks in your bag?

Mon, 08/16/2010 - 14:31 | 524322 Temporalist
Temporalist's picture

What makes you think anyone here buys gold on ebay?

What makes you think everyone that believes gold will increase in price as the value of fiat drops is an armageddonist?

If you don't believe in survival why not just give up on life?

I'm only a "survivalist" in that I've survived this long and intend to survive longer.

Mon, 08/16/2010 - 15:41 | 524522 VWbug
VWbug's picture

hey if it doesn't apply to you, cool.

why would you be concerned if the comments don't apply to your beliefs?

Mon, 08/16/2010 - 15:45 | 524531 Temporalist
Temporalist's picture

You are making generalzations and then try to run from them.  I am showing you your errors.

Mon, 08/16/2010 - 15:48 | 524532 VWbug
VWbug's picture

If you don't believe in survival why not just give up on life?

You seem to be the one who seems things in terms of survival or not.

I see things in terms of LIVING or not.

I refuse to build a prison around myself based on irrational fears (or even rational fears, for that matter).

I choose life, thanks, and am enjoying every minute of it.

Mon, 08/16/2010 - 18:41 | 524856 ColonelCooper
ColonelCooper's picture

Hmmmm.  You see to think your idea of "living and loving life" is the only correct one.

I enjoy living in the middle of nowhere.  It gives me peace to work in my garden.  I am healthier because I raise most of my own food.  Cutting my own firewood is good exercise, and a source of inexpensive heat.

Spending my free time teaching my children to hunt and fish gives me satisfaction, and teaches them a skill.  The same goes for butchering, smoking and sausage making, canning etc...

I have guns, ammo, food, a little chunk of land and some PM's.  I'm no survivalist, but I have little doubt that I could survive longer than average if the shit actually hit the fan.  Do you see me as a bunker nut?  It's just the way I grew up. 

I just see myself as someone who likes to live where I don't hear cars going by when I'm at home. 

I choose life, thanks, and am enjoying every minute of it.  Now get off your high fucking horse and try to realize that some people live differently than you.  Not better.  Not worse.  Different.

Mon, 08/16/2010 - 22:10 | 525241 Hulk
Hulk's picture

Speaking of splitting wood colonel, watch this

been doing it the hard way for all my life. Woods are full of tires too...

Tue, 08/17/2010 - 00:25 | 525421 ColonelCooper
ColonelCooper's picture

Pretty good vid, Hulk.

When I was a boy we lived in an OLD house, harder than Hell to heat.  We would burn 10 or so cords of wood every winter; which I split all of from the time I was around 10 until I moved out.  The summer I was 12-13 or thereabouts, Dutch Elm disease went through like wildfire.  We had two BIG ASS elms right up close by the house.  We're talking pushing 4' at the butt cutt. I remember me, my dad and my grandpa, block and tackle and both tractors to fell them and keep them away from the house. 

I split every damn stick of those stringy ass bastards by hand.  The pieces were so effing big, I had to move them with the bucket on the tractor.  We had an oil furnace in the house, we just never ran it.  I swore to myself that when I grew up I was never splitting a stick of wood again if my life depended on it.  Kinda funny how now I enjoy doing it to burn steam.  But mostly I enjoy telling my kid to hit the woodpile.  :)

Good to see you BTW. 

Tue, 08/17/2010 - 10:40 | 525879 Hulk
Hulk's picture

You must have one hell  of a grip Colonel! We will have to get together one of these days and drink a beer or two.

Tue, 08/17/2010 - 10:21 | 525822 VWbug
VWbug's picture

i get away every weekend to a cabin where i chop wood, clear land, etc. I have built a small log cabin from trees i felled and skinned myself using a drawknife and a portable chainsaw mill i bought at lee valley tools.

I do it for the joy of it.

Maybe you aren't reading the posts here, most I read are people preparing for civil unrest, stocking up on guns and ammo (which is to be used for what? shooting rabbits?)

as i said, if you don't cower in fear waiting for asteroids to hit, volcanos to blow, methane gas bubbles in the GOM to explode, tsunamis, etc., then more power to ya.

You;'d be an exception amongst the doomsters here.

So suddenly no one here  believes in the doom scenario? It's talked about endlessly with undisguised glee (read: desire to see the world brought down to their low level)

if the shoe fits, wear it, otherwise don't, no drama.

Mon, 08/16/2010 - 18:41 | 524875 Johnny Bravo
Johnny Bravo's picture

tmosley was just saying that he sells gold on ebay and gets the 8% premium he pays for physical back.

Or maybe he buys it there?  Maybe he was just saying he COULD sell it there?

I don't know.  All I know is that that fella was talking about gold and ebay yesterday.

Mon, 08/16/2010 - 21:13 | 525139 ColonelCooper
ColonelCooper's picture

Hey Temporalist,

I bought a little gold bar/coin on E-Bay that supposedly dates back to mid eighteen hundreds Japan.  It wieghs about a gram and I paid like 40 bucks for it.  I also bought one like it in silver.

I have no idea if they're real or not; though they came from a "reputable" seller.  I put them in a coin album I have been working on for the kids.  I just thought they looked neat. 

So, I guess there's one guy on ZH who has bought risky goldon E-Bay.  I will say that I used to buy a fair amount of junk silver on E-Bay before everybody and their brother jumped in.

Mon, 08/16/2010 - 15:24 | 524491 UGrev
UGrev's picture

There's a difference between doomsters and survivalists. Doomsters are buried up to their assholes in conspiracy theories and shit like 2012. Survivalists are just doing what they've always done; what they're grand-parents and great-grand-parents have done. Someone called me crazy because I was canning my veggies and had a garden etc.. I just shrugged it off. It's nothing different than what was done in my family for centuries.

I've chosen to realize that the shiny veneer of malls and grocery stores is just that. Having my own garden is reassuring on many levels. So I find it laughable that people snicker at learning how to survive without the conveniences of today. Those people are the ones that end up "Up shits creek" when the TSHTF. I look at recent events such as the snow storms in VA and the subsequent clearing of the shelves in 3 days time. I would be able to avoid the stores completely and for the amount of time that the situation lasted, I would have been just fine and would have never needed to go to the store once. That kind of feeling of self-reliance is priceless. 

Mon, 08/16/2010 - 15:57 | 524557 VWbug
VWbug's picture

That kind of feeling of self-reliance is priceless.

Damn right it is, and I respect it. I'm couldn't grow a plant if my life depended on it (there's a straight line for someone), but overall I'm not too bad, self reliance wise. I did live on a small island for months at a time over several years and, although it was far from a survival situation (more like frozen daiquiris and hot tubs) I did learn a hell of a lot about how to obtain fresh water, especially in the winter.

I loved every minute of that experience and can't wait to do it again.

I thought i made it pretty clear, the discussion I enjoy fomenting here is around the lunatics who think they need guns and ammo to fend of their neighbours who are going to attack them at 3 am.

These same ones rant and rave about the coming end of civilization as we know it, where their few ounces of 'physical' they own will make them rich (like the greedy bastards they envy so much)

etc etc

I'm just against the irrational and the psychotic. if that doesn't apply, I applaud you. Seriously. I wish I knew how to survive off the land. Fortunately, I really, really don't think it will ever come to that. And besides, I have family members who do know. They even have gun collections.


Mon, 08/16/2010 - 18:40 | 524869 ColonelCooper
ColonelCooper's picture

I replied to your above post before reading this one.  While it adds context, I would only add this: 

I wouldn't hesitate for one second to shoot someone who came into my house at 3:00 A.M. trying to take my shit.

Do I spend time worrying about it? No.  Do I have a .357 loaded with .38 wadcutters next to my bed?  Yes.  And a shotgun full of buckshot under it.


Mon, 08/16/2010 - 20:49 | 525101 UGrev
UGrev's picture

I was just replying to your inclusion of survivalist into the category of irrational, conspiracy theory, doomsters. That's not to say that I don't think we're in for a rough ride.. I just don't see it going Mad Max.. not even close.

Tue, 08/17/2010 - 10:26 | 525841 VWbug
VWbug's picture

yup, the conspiracy theorists are the real crazies, and being a survivalist doesn't make you one of them, but you and i both know a lot of the crazies become survivalists because they think 'the end is near'


Mon, 08/16/2010 - 12:45 | 524009 aheady
aheady's picture


Mon, 08/16/2010 - 12:34 | 523978 hamurobby
hamurobby's picture

Nah, we actually use our gram scales for something other than drugs. 

Mon, 08/16/2010 - 12:34 | 523980 uno
uno's picture

I do wonder about that.  It is assumed the Eagles and Maple Leafs are legit (1 oz gold or silver).  With all the deception in wall street's pet project 'the US federal government', how can you trust there is 1 oz, when the entire US financial world is one big ponzi (currency, derivatives, etc.).  Canada does not have gold reserves, the US has IOU's for gold.


Mon, 08/16/2010 - 12:46 | 524019 VWbug
VWbug's picture

i think it would only make sense to investigate the incidence of counterfeit gold's only going to increase as the price rises of course.

i'm not at all sure weight alone is good enough, others commented that weight plus dimensions is sufficient. You better get a good set of calipers.

Mon, 08/16/2010 - 12:56 | 524047's picture

You better get a good set of calipers.

Exactly. Get the calipers and stop listening to the crackpot who says, "the world is unknowable and unmeasurable, we are lost, we are lost!"

The world is knowable. Gold can be defined, measured and authenticated.

Mon, 08/16/2010 - 13:04 | 524067 VWbug
VWbug's picture

wow so many straw men, so little time.

I believe in buying gold from a reputable bank, like scotiabank, where I buy mine.

I think it wouldn't hurt to also know how to test it.

What I am questioning is how you doomsters trust buying gold from a reputable bank, when YOU believe they are all manipulating, lying, fraudsters?

now that's irrational, get it?


Mon, 08/16/2010 - 13:20 | 524122's picture

now that's irrational, get it?

You say you already bought gold and NOW you want to learn how to test whether it's real? And in the meantime you laugh at people who do know how to authenticate gold and silver coins and jewelry?

No, that's not irrational at all.

Mon, 08/16/2010 - 13:26 | 524140 VWbug
VWbug's picture

wow, you are not quick on the uptake are you?

Yes, i have bought and sold gold many many times, both physical and etf versions, because I, UNLIKE YOU (get the difference?) trust scotiabank and even think that odds are good that i will get my money out of etf's in time.

I also think that paper money, although devalued, will be worth something in future, and so when i change my gold back into $$$ i will have made a profit, so I actually care if the price goes up and how quickly.

UNLIKE YOU doomsters and gold koolaid drinkers who say paper is worthless yet can't wait for the price IN PAPER (oh my god, it's so irrational I can hardly believe it) goes up.

starting to get it?


Mon, 08/16/2010 - 13:43 | 524190's picture

Please provide citations detailing the things you say I said but which I never actually said.

Mon, 08/16/2010 - 13:52 | 524209 VWbug
VWbug's picture

My comments have been directed at the looney doomsters, and you apparently decided to become their spokesman.

But I am glad you now agree with me that banks can be reputable, that there is no nefarious "PTB" manipulating gold prices, and that the paper price of gold does matter, as in future we'll still be using paper $$ and your neighbours won't all be starving to death and trying to kick down your door at 3 am.

(and further, if you REALLY believed in the madmax scenario, that telling the whole world you own physical gold would be a very irrational thing to do)

Mon, 08/16/2010 - 13:56 | 524221's picture

But I am glad you now agree with me that banks can be reputable, that there is no nefarious "PTB" manipulating gold prices, and that the paper price of gold does matter, as in future we'll still be using paper $$ and your neighbours won't all be starving to death and trying to kick down your door at 3 am.

That's a mixed bag. I would say that at least some of those things could occur without the world "falling apart." If you think that the failure of a few bullion banks wouldl result in the world falling apart, doesn't that make you the irrational doomster?

Mon, 08/16/2010 - 14:06 | 524248 VWbug
VWbug's picture

If you think that the failure of a few bullion banks wouldl result in the world falling apart

jeez, you are so lame. Where did i say that?

YOU guys dont trust banks, paper, etc, remember?

I (VWbug) am the guy that thinks we will see deflation, then inflation, and perhaps hyperinflation.

I TRUST the banks, do you?

I TRUST the gold I bought is real, as I bought it from an institution I TRUST, do you?

I do NOT believe the gold market is manipulated, do you?

I do NOT think the world is falling apart, do you?

I TRUST my Canadian paper dollars, do you?

I do NOT believe my neighbours are all going to go psychotic and start trying to steal my stuff, do you?

So you see, I can be perfectly rational and can buy gold, etfs, and get upset if the gold price in paper dollars goes down.

The rest of you are all freaking loonies : )


Mon, 08/16/2010 - 16:40 | 524653's picture

I TRUST the banks, do you?

In the United States we have to prop up our banks with taxpayer dollars because rich and powerful institutions really on their ability to fritter away all the money they borrow as well as all the money they create out of thin air, secure in the knowledge that the lunch money of American school kids will be made available to round out the next sheaf of bonuses.

I trust them to do that.

I do NOT believe the gold market is manipulated, do you?

Government and banking officials have in the past admitted to fixing the POG.

I trust them when they speak so candidly.

I TRUST my Canadian paper dollars, do you?

I have no Canadian dollars but I am aware that since the inception of the Federal Reserve Bank in 1913, the Federal Reserve Note has lost over 95% of its purchasing power to inflation.

I trust that will continue.

Mon, 08/16/2010 - 13:57 | 524230 thesapein
thesapein's picture

You got it backwards.

If the dollar survives, then the future looks more mad max like. Gold bugs picture a golden age, otherwise.

Mon, 08/16/2010 - 14:38 | 524338 Temporalist
Temporalist's picture

I think the people that talk about TEOTWAWKI are gold haters that like to put words into other people's mouths.  Besides the end of the world is subjective.  Is China surpassing Japan and then the U.S. as the largest economy TEOTWAWKI?  How about Iran having nuclear weapons?  How about peak oil?  What about a mass earthquake and tsunami that levels a whole country?  Or a super geyser?  Asteroid impact?

Many things can happen and I don't see gold champions telling people that they will use their weapons to force their will over anyone but more likely to defend what is theirs from those who have no foresight now.  The gold haters, like JB, are the ones who say they will just kill the people with gold and food and take what they want.  That is some long term plan lol.

Mon, 08/16/2010 - 16:06 | 524579 VWbug
VWbug's picture

these are the ones I am talking about, that actually spend time worrying about asteroids, volcanoes, and nuclear war.

try enjoying life, it really ain't that scary (unless you live in a bomb shelter and read nothing but gloom and doom)

Mon, 08/16/2010 - 21:38 | 525186 Temporalist
Temporalist's picture

You are dense.  The point was there are many possibilites of disaster so focusing on one isn't worth it just be prepared as best you can.

Mon, 08/16/2010 - 13:55 | 524218 thesapein
thesapein's picture

I'm not sure you understand what "irrational" means. Are you certain you are using this word correctly?

Mon, 08/16/2010 - 13:51 | 524210 midtowng
midtowng's picture

I don't think it is very cost effective to conterfeit 1oz gold coins. That's why you the fakes you hear about are large gold bars.

 Nevertheless, there are reasonably priced gold coin tests for weight and size. It's a perfectly legit way of testing your gold.

Mon, 08/16/2010 - 13:56 | 524226 VWbug
VWbug's picture

seriously? That a $1200 coin is not worth counterfeiting? People counterfeit $10 bills...

I'm willing to bet the counterfeit coin business is HUGE, and no I haven't googled it, as it's bloody obvious.

Kills me that the doomsters are paranoid about everything yet they blindly trust the gold they bought online, and that no one is paying attention to them telling the whole world how much they own.

i find it all quite fascinating : )

Mon, 08/16/2010 - 14:08 | 524258 Tortfeasor
Tortfeasor's picture

How do you figure that it's huge?  Does it sound easy to counterfeit a 1 oz coin?

Sounds damn hard to me, actually, considering the properties of gold itself, considering the alternative metals you'd have to use, the ability to get an impression of each coin, and make it not look or sound like an oreo cookie.  Then, after all that, you have to market a shit-ton of coins to make some money, cause i'm thinking your profit margin is going to be slim.

Mon, 08/16/2010 - 14:14 | 524277 VWbug
VWbug's picture

it's just my guess, maybe it's only the really rare coins that have serious value that are forged, what do I know?

but i know that anything that is very valuable is forged at some point.

(including vintage automobiles, how easy do you think that is?)

Mon, 08/16/2010 - 19:02 | 524915 DoChenRollingBearing
DoChenRollingBearing's picture

They are even counterfeiting Korean bearings in Peru!  They buy unmarked Chinese, mark the brand and origin on the bearing, and put it into a fake box.


Sí, estimado señor, dueño de un VW Escarabajo, sí tenemos sus rodajes!

(Yessir Mr. VW Bug owner, yes we have your bearings)

Tue, 08/17/2010 - 10:34 | 525865 VWbug
VWbug's picture

no tienes que traducir, entiendo bien el espanol, me cuesta hablar, pero yo se suficiente para conseguir chicas...a veces, jaja

me encanta peru, quiero volver pronto


Mon, 08/16/2010 - 14:09 | 524259 tmosley
tmosley's picture

Well, if you knew anything about tungsten, you would know that it is very hard to work with, and as such, it is much easier to get a large gold bar, hollow it out, and fill the hollow with tungsten shot and seal it up with gold.  If you could just strike a tungsten blank, then you couldn't trust gold coins--but you can't strike tungsten into a coin shape.  It is simply too hard.  You can machine it, but that requires specialty instruments (think plasma etching), and takes a lot of time--you probably won't make your money back selling it.  

There is a reason people trust gold.  You don't seem to understand that.

Mon, 08/16/2010 - 14:16 | 524286 VWbug
VWbug's picture

what are you talking about? I trust gold, as i have said repeatedly.

I'm just wondering how the paranoid doomsters trust it.

Mon, 08/16/2010 - 16:35 | 524619 DiverCity
DiverCity's picture

You're interesting and worth a rebuttal or two in that you're such a moving target.  To wit, above you state the following:

"I'm willing to bet the counterfeit coin business is HUGE, and no I haven't googled it, as it's bloody obvious."

And then you have the temerity to come right back and say that you "trust gold, as [you] have said repeatedly."

Well, do you trust it or not?  And it's not an answer to state that you trust it coming from the banks.  In the United States you can't buy gold from the banks.  Think for just a moment -- if the couterfeit coin business is huge, why hasn't it been discovered?  And did you know that pure gold isn't magnetic?  Hence, one of the easiest tests for a coin is to weigh it and then use a good magnet.  Even alloy coins have very, very little magnetic attraction.  And before you note that tungsten isn't magnetic, I'm well aware of that, but to shape it into coin sizes and then plate the tungsten with gold would be extremely hard to get right without the best of manufacturing knowledge and facilities, thereby erasing any profit potential from the criminal enterprise.

Tue, 08/17/2010 - 10:44 | 525895 VWbug
VWbug's picture

man i have to keep repeating things over and over.

i trust gold as i trust the bank i buy it from, scotiabank, in toronto CANADA.

Lots of people have informed me of ways to further test gold, weighing , measuring, and now your suggestion, great, thanks I learned a lot and am satisfied.

my question from the start was, IF YOU are a paranoid doomster that does not trust banks, or anyone else for that matter, by definition, WHO do you buy your gold from and how do you trust it (second question now answered)

In addition, if you think there will be such a disastrous situation that will cause the price of gold to skyrocket, such that you need guns and ammo to ' survive' , why on earth would you go and publicly announce all your gold purchases on a widely read website?

like the 'powers that be'  that can manipulate world markets and control everything can't find out who you are?

irrational behaviour, wouldn't you say?


Mon, 08/16/2010 - 16:12 | 524593 nmewn
nmewn's picture

Hey Rocky those are some pretty cool gizmo's.


Mon, 08/16/2010 - 16:11 | 524581 fearsomepirate
fearsomepirate's picture

Or get a graduated cylinder and some water.  Eureka, bitches!

(That's a joke.  I'm guessing the counterfeiters have gotten a lot more sophisticated and can replicate the density of gold with base alloys....right?  I mean, they can't be that dumb, can they?)

Mon, 08/16/2010 - 13:09 | 524088 Treeplanter
Treeplanter's picture

Canada has gold mines.  I know a guy who is still working the family placer claims in the Klondike.  When he buys a new Cat, he pays cash. 

Mon, 08/16/2010 - 13:16 | 524111 VWbug
VWbug's picture

we also have millions of square miles of unoccupied land, and more potatos than i can count.

guess that's why i am not living in fear of starving to death : )

Mon, 08/16/2010 - 13:47 | 524198's picture

Perhaps if I try to relate to you on your own level:

But how can you tell the potatoes are real? You can't can you? All you potato bug (!) doomsters talk a good game about how valuable and delicious potatoes are whether they are fried or mashed or baked or stuffed with tasty fixins like bacon and cheese but how do you know that they really aren't turnips dressed up in potato skins? Huh? You CAN'T that's how!!!!!!!

Mon, 08/16/2010 - 13:57 | 524225 Cognitive Dissonance
Cognitive Dissonance's picture


Tubers bitches. :>)

Mon, 08/16/2010 - 14:11 | 524267 RockyRacoon
RockyRacoon's picture

...and for those who prefer smaller denominations:

Legumes bitchez!

Mon, 08/16/2010 - 19:06 | 524919 DoChenRollingBearing
DoChenRollingBearing's picture



+ $1210 Cog Dis and Rocky!

Mon, 08/16/2010 - 17:18 | 524728 Hephasteus
Hephasteus's picture

McDonalds doesn't even use potatoe's in their french fries. They won't break down ever. They can sit under your car seat for 6 years and still look like the day they were sold. I think they use a starch flavored paper product to produce them.

Mon, 08/16/2010 - 14:11 | 524266 VWbug
VWbug's picture

you can't tell a real potato from a fake one? 

I can.

But I'can't tell a real st gaudens from a fake one.

well, not until i buy me some scales, calipers and other gear.

Hope all the good doomsters out there have done that!

Mon, 08/16/2010 - 14:13 | 524272 RockyRacoon
Mon, 08/16/2010 - 14:29 | 524321 Cognitive Dissonance
Cognitive Dissonance's picture


I suspect VWbuy is some hyperactive teenager or early twenties out-of-work wanna-be that's still living at home. Based upon his/her many references to "mom" and "parents" and so on I suspect I'm digging pretty close to the (Canadian) tubers with this one.

A classic troll that's sliming out of mom's basement. A Yahoo escapee who showed up 3 weeks ago, who's always right, always trades perfectly and brags about it (I just made 241% today etc) always takes the contrary side, utilizes ad hominem attacks, very inconsistent with claims between threads and even within a thread and so on. ZH has attracted quite a few over the past 6 months but this one is particularly virulent.

Mon, 08/16/2010 - 14:35 | 524333 RockyRacoon
RockyRacoon's picture

Without a doubt, CD.  Note who is missing today since gold is up $10?

Dare I mention the name?    ...JB alias MB.

Mon, 08/16/2010 - 14:45 | 524368 Temporalist
Temporalist's picture

Gold is already past the 1220 mark quoted by that person so the quote was already "adjusted" from 1220 to 1230 "ish" just last night.

Mon, 08/16/2010 - 18:58 | 524907 Johnny Bravo
Johnny Bravo's picture

Nah, I just have a life.  I don't spend my whole day agreeing with people on websites every day.

Mon, 08/16/2010 - 19:12 | 524928 DoChenRollingBearing
DoChenRollingBearing's picture



Hi JB did you get my message the other day about my tech trader not being able to understand gold charts?  He was very good at TA, but could never get a handle on gold.

Mon, 08/16/2010 - 19:32 | 524971 Johnny Bravo
Johnny Bravo's picture

I didn't.  It looks like it's making a shoulder to me, but it could always be a megaphone wedge or any number of patterns.

It surely wasn't the much touted "cup and handle" we were hearing about before the rising wedge broke down.

Mon, 08/16/2010 - 16:12 | 524592 VWbug
VWbug's picture

hey if it makes you feel better to believe this than actually have a debate, fine by me, it's how you survive in life i guess.

I make a huge amount of trading errors, and have rarely mentioned any of my trades, other than my core short s&p position, which i regularly partially cover, 15 to 50% of.

My folks are also retired, in their 70's and spend winters in florida, as many snowbidrs do.

anything else?

p.s even as a student i never lived in a basement

Mon, 08/16/2010 - 16:16 | 524600 fearsomepirate
fearsomepirate's picture

I suspect VWbuy has never heard of Archimedes' bathtub.

Tue, 08/17/2010 - 10:47 | 525911 VWbug
VWbug's picture

true i haven't (or if i have, i have forgotten it completely)

i do understand occam's razor though, if that wins any points??

Mon, 08/16/2010 - 18:45 | 524883 Johnny Bravo
Johnny Bravo's picture

When the United States becomes Zimbabwe and we all eat canned hamz under our proches, potatoes will be 54000 an ounce.  Potatoez bitchez!

Mon, 08/16/2010 - 14:27 | 524312 andyupnorth
andyupnorth's picture

Biggest Canadian gold mine still untapped in Quebec...  Pesky rule-of-law and morality, which stood in the way, have been blown to pieces. Mining will begin shortly.

Mon, 08/16/2010 - 13:37 | 524179 thesapein
thesapein's picture

Been there. Done that.

Mon, 08/16/2010 - 14:08 | 524255 molecool
molecool's picture

I think you just got junked by those very same people - LOL :-))

Mon, 08/16/2010 - 12:14 | 523928 Miles Kendig
Miles Kendig's picture

Rusty coins in Russia, empty vaults and dirty dust elsewhere. How to create a commodity premised currency when the commodities cannot be verified once more moves to the fore.

Mon, 08/16/2010 - 12:34 | 523979's picture

It's pretty simple and, as usual, the answer has long been known -- don't buy a pig in a poke. If you are dealing with a seller who has not already earned your trust you must take alook at what you are buying before you put your money down. It's that simple.

Gold coins circulated freely in the US until 1933 and while there were attempts to counterfiet these coins it never became so big of a problem that store keepers said, "we will no longer accept money in exchange for goods."

If sellers of dry goods in 19th century prairie towns could reliably do business in gold and silver, I think we can manage it today.

Mon, 08/16/2010 - 13:03 | 524072 romanko
romanko's picture


Mon, 08/16/2010 - 16:18 | 524603 fearsomepirate
fearsomepirate's picture

I'm currently reading Mark Twain's "Roughing It" (hilarious book, BTW), and he mentions in passing that gold-backed bank notes *always* traded for less than face value.  So not only did the shop keepers still accept gold, "paper gold" was trusted less than physical.  It's much easier to detect counterfeit gold than know if the paper's really good for it.

Mon, 08/16/2010 - 17:05 | 524706's picture

I never read Roughing It. Any good? When was it written and does it discuss contemporary events or it Twain's reminiscences?

Have you ever read Twain's short piece Fenimore Cooper's Literary Offences? I think it's just about the funniest thing I have ever read. Best to read it out load in a condescending voice and you will just about kill yourself laughing.


Here's the link and I can't help tossing in an excerpt:

There still remained in the roost five Indians. The boat has passed under and is now out of their reach. Let me explain what the five did--you would not be able to reason it out for yourself. No. 1 jumped for the boat, but fell in the water astern of it. Then No. 2 jumped for the boat, but fell in the water still farther astern of it. Then No. 3 jumped for the boat, and fell a good way astern of it. Then No. 4 jumped for the boat, and fell in the water away astern. Then even No. 5 made a jump for the boat--for he was a Cooper Indian. In the matter of intellect, the difference between a Cooper Indian and the Indian that stands in front of the cigarshop is not spacious. The scow episode is really a sublime burst of invention; but it does not thrill, because the inaccuracy of the details throws a sort of air of fictitiousness and general improbability over it. This comes of Cooper's inadequacy as an observer.

Mon, 08/16/2010 - 13:09 | 524084 G. Marx
G. Marx's picture


And its good for you that paper money can't be faked, oh wait......

Mon, 08/16/2010 - 14:00 | 524234 Cognitive Dissonance
Cognitive Dissonance's picture

Particularly when it's the Fed faking those dollars. After all, can you tell a "fake" electronic journal entry of dollars from a "real" one? Everyone worries about counterfeit physical green backs. I worry much more about the fake electronic type, which represents more than 95% of all the "dollars" in circulation.

This is where the real fraud is occurring. And these fake dollars are being used to buy fake Treasuries.

Mon, 08/16/2010 - 14:48 | 524374 Temporalist
Temporalist's picture

CD I wish I had a "digital mistake" deposit made into my account so that I could buy physical PMs and screw those bitchez back to 1913.

Tue, 08/17/2010 - 17:02 | 526962 Geoff-UK
Geoff-UK's picture

CD nails it again on who to watch out for.

As for gold?  Carry a Fisch.

Mon, 08/16/2010 - 12:16 | 523930 VWbug
VWbug's picture

hey I'm sure it's all good gold bugs, and besides, no one knows you own the physical, as long as you haven't been blabbing about it all over the internet...oops

Mon, 08/16/2010 - 12:30 | 523968's picture

You efforts to chill conversation amongst like-minded, freedom loving people isn't working. Look at all the posts!

Mon, 08/16/2010 - 12:51 | 524032 VWbug
VWbug's picture

quite the opposite, love the banter, the more the merrier

p.s.  I believe i saw you somewhere recommending someone read ayn rand...I suggest you re read her and maybe you will get it this time.

i am all for freedom, but like ayn, am against irrationality, and those who fear change and envy success.

Mon, 08/16/2010 - 12:59 | 524057's picture

In Ayn Rand's Atlas Shrugged what did the residents of Galt's Gulch use for money?

Mon, 08/16/2010 - 13:09 | 524085 VWbug
VWbug's picture

and where did i say i did not believe in gold?

you only see what fits your preconceived notions

you should check your assumptions

Mon, 08/16/2010 - 13:24 | 524138's picture

you should check your assumptions

No need to assume -- the proof is in the puddin' head -- you are a 100% certified gold-plated troll.

Mon, 08/16/2010 - 13:30 | 524157 VWbug
VWbug's picture

good answer.

Now answer this.

when the world falls apart and gold is the only real money, how on earth would anyone find out who has any?

why...they might search the internet, mightn't they?

or are the all powerful, manipulating world markets daily PTB suddenly incapable of hacking a website?

(I know how you can answer me, call me a paid shill AND a troll!)

Mon, 08/16/2010 - 13:49 | 524202's picture

What makes you think that the world is going to fall apart?

Mon, 08/16/2010 - 14:21 | 524299 VWbug
VWbug's picture

I don't. I think we'll have some deflation, maybe..then inflation, timing, i dunno. Thats why trade daily, and flip my positions more often than i change my uw.

I am absolutely not living in fear of running out of food, ammo or good neighbours. Unlike you doomsters : )

Mon, 08/16/2010 - 13:13 | 524100 Ricky Bobby
Ricky Bobby's picture

I think sometimes it is wise to fear change. The commissars I am sure laughed at those simple Kulaks. You know, Utopia was just around the corner.

Mon, 08/16/2010 - 13:18 | 524117 VWbug
VWbug's picture

shouldn't you be running around the track in your underwear??


Mon, 08/16/2010 - 13:19 | 524120 minus dog
minus dog's picture

Ah, but there is fearing change, and there is fearing "Change".  I've had quite enough "Change" already. 

Mon, 08/16/2010 - 13:18 | 524114 Treeplanter
Treeplanter's picture

Good fodder for a TV series.  Tracking down and robbing all the gold bugs that blab on the internet.  But the Leverage guys rob the robbers.  I'm sharing story credit with you VW.

Mon, 08/16/2010 - 13:20 | 524127 VWbug
VWbug's picture

it's a good one isn't it?

and zh turns out to be run by 'TPTB' as an easy way to get all like minded gold bugs in one place

its briiiilllliant!!

Mon, 08/16/2010 - 13:29 | 524150's picture

it's a good one isn't it?

and zh turns out to be run by 'TPTB' as an easy way to get all like minded gold bugs in one place

its briiiilllliant!!


If you really believed that that was the case you would not troll the forum and work so diligently in your efforts to undermine the notion of sound money. Unfortunately (for you) you're not so briiiiiiiiliant!

Mon, 08/16/2010 - 13:33 | 524167 VWbug
VWbug's picture


I guess i'm not so brilliant, 'cause i have no idea what you're saying

Mon, 08/16/2010 - 13:51 | 524211's picture

I guess i'm not so brilliant, 'cause i have no idea what you're saying

Then I suppose there's no point in saying it again.

Mon, 08/16/2010 - 14:17 | 524288 clymer
clymer's picture

any chance we can get you two to shut the !@#$ up?

Mon, 08/16/2010 - 14:15 | 524280 tmosley
tmosley's picture

Jesus God, don't tell me Johnny already switched user names on me?

Mon, 08/16/2010 - 18:48 | 524886 Johnny Bravo
Johnny Bravo's picture

Nope.  I'm still waiting for you to lose your bet.  364 days to go.  Can't wait until you change your name!

Don't think that I come here all day, or even every day.  I already know the things that the articles will say.
The gold market is manipulated, etc, etc, gold bitchez, etc, etc.

There's just no point to come here as much as you people seem to think I do.

Mon, 08/16/2010 - 21:18 | 525151 BrosMacManus
BrosMacManus's picture

Master Bater

Mon, 08/16/2010 - 12:22 | 523932 nmewn
nmewn's picture

Retracted last's true...scratches head;

Mon, 08/16/2010 - 12:15 | 523933 carbonmutant
carbonmutant's picture

WTF... there's always more than one roach.

Mon, 08/16/2010 - 12:20 | 523942 King_of_simpletons
King_of_simpletons's picture

Ah those Nigerian 420 scamsters and their alluring emails.

Mon, 08/16/2010 - 13:10 | 524091 truont
truont's picture

Who can resist their quaint attempts to write in English?

It's so charming when they try--I just have to give them my account number for all the trouble they went through, flipping through their Nigerian-English dictionary for hours....

Mon, 08/16/2010 - 13:21 | 524124 Treeplanter
Treeplanter's picture

I haven't had email from Nigeria in a few years.  What am I doing wrong? 

Mon, 08/16/2010 - 14:01 | 524237 Calculated_Risk
Calculated_Risk's picture

Cause they are posing as the FBI now.. here, I'll share the love...

The F.B.I Has Approved Your Email Lottery Winnings!!!‏ Anti-Terrorist And Monetory Crimes Division
FBI Headquarters In Washington, D.C.
Federal Bureau Of Investigation
J. Edgar Hoover Building
Washington, DC USA

Attn: Beneficiary,

This is to Officially inform you that it has come to our notice and we have thoroughly completed an Investigation with the help of our Intelligence Monitoring Network System that you legally won the sum of $800,000.00 USD from a Lottery Company outside the United States of America. During our investigation we discovered that your e-mail address won the money from an Online Balloting System and we have authorized this winning to be paid to you via a Certified Cashier's Check.

Normally, it will take up to 10 business days for an International Check to be cashed by your local bank. We have successfully notified this company on your behalf that funds are to be drawn from a registered bank within the United States Of America so as to enable you cash the check instantly without any delay, henceforth the stated amount of $800,000.00 USD has been deposited with Bank Of America.

We have completed this investigation and you are hereby approved to receive the winning prize as we have verified the entire transaction to be Safe and 100% risk free, due to the fact that the funds have been deposited at Bank Of America you will be required to settle the following bills directly to the Lottery Agent in-charge of this transaction whom is located in Lagos, Nigeria. According to our discoveries, you were required to pay for the following -

(1) Deposit Fee's ( Fee's paid by the company for the deposit into an American Bank which is - Bank Of America )
(2) Cashier's Check Conversion Fee ( Fee for converting the Wire Transfer payment into a Certified Cashier's Check )
(3) Shipping Fee's ( This is the charge for shipping the Cashier's Check to your home address )

The total amount for everything is $400.00 (Four Hundred-US Dollars). We have tried our possible best to indicate that this $400.00 should be deducted from your winning prize but we found out that the funds has already been deposited at Bank Of America and can not be accessed by anyone apart from you the winner, therefore you will be required to pay the required fee's to the Agent in-charge of this transaction via Western Union Money Transfer Or Money Gram.

In order to proceed with this transaction, you will be required to contact the agent in-charge ( MR Barrack .G Williams ) via e-mail. Kindly look below to find appropriate contact information:

CONTACT AGENT NAME: MR Barrack .G Williams


You will be required to e-mail him with the following information:


You will also be required to request Western Union or Money Gram details on how to send the required $400.00 in order to immediately ship your prize of $800,000.00 USD via Certified Cashier's Check drawn from Bank Of America, also include the following transaction code in order for him to immediately identify this transaction.

This letter will serve as proof that the Federal Bureau Of Investigation is authorizing you to pay the required $400.00 ONLY to MR Barrack .G Williams via information in which he shall send to you, if you do not receive your winning prize of $800,000.00 we shall be held responsible for the loss and this shall invite a penalty of $3,000 which will be made PAYABLE ONLY to you (The Winner).

Mr. Thomas Clarkson
Special Agent.
Washington DC FBI.
Room, 7367
J. Edgar Hoover Building
935 Pennsylvania Avenue, NW
Washington, D.C. 20535-0001

Please find below an authorized signature which has been signed by the FBI Director- Robert Mueller, also below is the FBI NSB (National Security Branch Seal)

NOTE: In order to ensure your check gets delivered to you ASAP, you are advised to immediately contact (MR Barrack .G Williams) via contact information provided above and make the required payment of $400.00 to information in which he shall provide to you.
Mon, 08/16/2010 - 14:10 | 524264 molecool
molecool's picture

Pure poetry it is...

Mon, 08/16/2010 - 14:34 | 524331 Cognitive Dissonance
Cognitive Dissonance's picture

Looks like I lost another $400 to these guys. But this one sounded so sincere. Really. He even said "Honest to God and hope to die." :>)

Mon, 08/16/2010 - 14:53 | 524405 Temporalist
Temporalist's picture

And the contact's name is Barrack.  I must give my information to him immediately!

Mon, 08/16/2010 - 17:20 | 524730 Hephasteus
Hephasteus's picture

I thought the CIA did most of those scams. When the downturn hit. IBM reported the number of fake ponzi emails went down 90 percent.

Mon, 08/16/2010 - 12:21 | 523943 knukles
knukles's picture


The Not Physical Gold Un-Trust.  Secured by your conversation with some Nigerian bugger on a no call back pre-paid throw away mobile telephone.

Brilliant!  The dude moved on from lesser pastures of blanket faxing of US$50 million just wire me your checking account number and balance recovery letters.

Suckers born every minute.

Mon, 08/16/2010 - 12:28 | 523960 VWbug
VWbug's picture

and you bought your physical from one of the banksters? You know, the ones manipulating the gold market?

or from some internet operation? yes they are trustworthy and never go out of business..

 no counterfeits on ebay!

Mon, 08/16/2010 - 12:36 | 523983's picture

What experience do you have in this area? If you have no experience then why should anyone  believe anything you say?

Mon, 08/16/2010 - 12:55 | 524042 VWbug
VWbug's picture

i didn't claim any experience at all, i am questioning how you are so sure of what you hold.

However, I must admit my first job was at Scotiabank's gold trading dept, and i used to get the report stating the inventory held at the vault at 44 king west. Once i went down there to check it out, very cool. I didn't however check any serial numbers, not my job.

That was in the days that Dave Rosenberg was with our econ dept. I used to chat with him regularly, he was one of the few economists to visit the trading floor and ask intelligent questions about what was going on.

Mon, 08/16/2010 - 13:34 | 524168's picture

i didn't claim any experience at all, i am questioning how you are so sure of what you hold.

How many times and from how many posters do you wish to receive the same answer? Bullion coins have a known diameter, thickness and weight. If these don't square what you have isn't gold. Gold jewelry can be given an acid test to determine authenticity and purity. Also you can simply bite a gold coin. If your teeth leave marks, it's gold.

What part of that are you having difficulty understanding?

Mon, 08/16/2010 - 14:18 | 524289 RockyRacoon
RockyRacoon's picture

Several thousands of years dealing with gold and silver have yielded numerous, valid ways to test each.  If any actual jewellers or pawn brokers are reading any of this they are laughing their asses off.  It's ridiculously easy to test for the real thing.  The folks in Dubai who got ripped deserved it for being greedy.

Mon, 08/16/2010 - 17:28 | 524741's picture

The folks in Dubai who got ripped deserved it for being greedy.

No, they deserve getting ripped off for not being greedy enough.

More greed (aka looking out for number one because if I don't do it who else will?) leads to less trust (realizing that the other guy is doing everything he can do to look out for himself) and this leads to a thorough process of verification and results in greater security.

Therefore more greed leads to getting ripped off less. More greed leads to greater transparency. More greed ensures that transactions will be completed to the fullest possible satisfaction of the participants. More greed leads to greater stability. More greed gives the greatest opportunities for justice and peace.

Mon, 08/16/2010 - 17:50 | 524783 RockyRacoon
RockyRacoon's picture

...yeah.  And Gordon Gekko went to jail.

Say, where is he these days.

Mon, 08/16/2010 - 19:32 | 524970's picture

...yeah.  And Gordon Gekko went to jail.

Say, where is he these days.

The same place where all fictional characters reside, in someone's imagination.

Mon, 08/16/2010 - 20:28 | 525069 RockyRacoon
RockyRacoon's picture

I was speaking of ZH's own Gordon Gekko.  Have not seen a post in a while.

Mon, 08/16/2010 - 21:54 | 525214's picture

In that case (Crockett shrugs), I dunno.

Mon, 08/16/2010 - 12:33 | 523975 Internet Tough Guy
Internet Tough Guy's picture

Fortunately I have an inside man; the brother of the late Nigerian gold minister. As soon as I Western Union him the money, he sends me the map to the treasure.

Mon, 08/16/2010 - 12:25 | 523953 Turd Ferguson
Turd Ferguson's picture

Why is it that if I draw a cartoon of The Prophet I'm put on Death Watch but there are millions of people named "Mohammed" and none of them ever get a fatwa?

Mon, 08/16/2010 - 13:04 | 524073 knukles
knukles's picture

Now that is seriously funny. 

Mon, 08/16/2010 - 16:55 | 524687 pods
pods's picture

I think that you might just have earned fatwa #1 there Turd.



Tue, 08/17/2010 - 17:06 | 526970 Geoff-UK
Geoff-UK's picture

You dare speak of the Prophet (PBUH) without including (PBUH)?!

May your female camel fight you when you attempt to have relations with her!

Mon, 08/16/2010 - 12:25 | 523956 DocLogo
DocLogo's picture

Dust, bitches

Mon, 08/16/2010 - 12:29 | 523964 digalert
digalert's picture

Is the US going to bail out their fake Gold with our fake dollars?

Mon, 08/16/2010 - 12:29 | 523965 ZEITGEIST
ZEITGEIST's picture

i say we sell all the tungsten fake gold to Johnny Bravo....he can put it where it dont shine..

Mon, 08/16/2010 - 14:21 | 524296 RockyRacoon
RockyRacoon's picture

Gold is up today -- Master Bates is in hiding.  There is one way to rid ourselves of the dreadful troll.

Mon, 08/16/2010 - 18:52 | 524895 Johnny Bravo
Johnny Bravo's picture

What's that?  Learning how to spell raccoon?

Mon, 08/16/2010 - 20:30 | 525075 RockyRacoon
RockyRacoon's picture

The spelling is purposeful.  It avoids searches by having no space and one "c".  That way my posts don't show up when folks Google their favorite Beatles tunes.

Mon, 08/16/2010 - 18:52 | 524894 Johnny Bravo
Johnny Bravo's picture

If I wouldn't buy real gold at 8% above market value, what makes you think I'd buy fake gold at 8% over market value?

Why don't I just take 800 bucks out of my checking account and light it on fire?

Mon, 08/16/2010 - 12:29 | 523967 Trifecta Man
Trifecta Man's picture

Survival of the Crookedest?

Mon, 08/16/2010 - 12:45 | 524013 Bitch Tits
Bitch Tits's picture



We had excellent teachers.

Mon, 08/16/2010 - 12:30 | 523970 THE DORK OF CORK
THE DORK OF CORK's picture

Stainless Steel Bitches

Mon, 08/16/2010 - 12:31 | 523972 bernorange
bernorange's picture

Ethiopian Central Bank gold scam appears to be old news (unless there is something more recent out there that I am not seeing).  From March 2008:

Mon, 08/16/2010 - 12:48 | 524021 nmewn
nmewn's picture

Same thing I came up with in the BBC article above.

It would appear since South Africa sent it back in 2008 (if it's the same gold being discussed...the dollar amount is the same anyways) Ethiopa found bigger fools in the UAE? ;-)

Mon, 08/16/2010 - 12:35 | 523981 lsbumblebee
lsbumblebee's picture

Those cheated investors shouldn't be too concerned. Fortunately, each of those phony gold bars had a Federal Reserve serial number on them.

Mon, 08/16/2010 - 12:42 | 523999 Biggvs
Biggvs's picture

No problem... just stick the fake bars in the ATM machines and pass them out to the next batch of suckers.

Do NOT follow this link or you will be banned from the site!