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Tungsten Outperforms Gold, Returns 70% In Last Year

Tyler Durden's picture





 

The comedy value of the various interpretations of this chart is simply priceless. We leave it up to our readers to share their views on why Tungsten has almost doubled in the past year, and what that means for the cost-benefit analysis for central banks in substituting "one metal" with "another"...

 


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Mon, 02/14/2011 - 13:48 | Link to Comment Thomas
Thomas's picture

Very funny (bitchez, of course).

Mon, 02/14/2011 - 14:34 | Link to Comment bankrupt JPM bu...
bankrupt JPM buy silver's picture

Just picked up 5 1000 oz bars of tunggy in hopes of flipping them to the COMEX, straight up tradesies for Silver, they can keep the change ;)

 

www.silvergoldsilver.blogspot.com

Mon, 02/14/2011 - 14:45 | Link to Comment Turd Ferguson
Turd Ferguson's picture

This headline made me laugh out loud. Oh the irony...

Mon, 02/14/2011 - 15:21 | Link to Comment ZerOhead
ZerOhead's picture

Irony is when the price of tungsten and gold finally reaches UNITY.

Probably still a year or two away yet! :)

 

Mon, 02/14/2011 - 15:51 | Link to Comment johnQpublic
johnQpublic's picture

isnt tungsten vital in the production of gold bars?

Mon, 02/14/2011 - 23:22 | Link to Comment StychoKiller
StychoKiller's picture

Due to the rise in the price of cocao, counterfeiters are now producing chocolate-covered tungsten...

Tue, 02/15/2011 - 10:58 | Link to Comment BigJim
BigJim's picture

Isn't it one of the raw materials used in the manufacture of Chinese rice?

Mon, 02/14/2011 - 15:51 | Link to Comment Turd Ferguson
Turd Ferguson's picture

good point

Mon, 02/14/2011 - 17:21 | Link to Comment BorisTheBlade
BorisTheBlade's picture


Probably still a year or two away yet! :)

At the current rate of one revolution per two-three weeks, gold/tungsten swaps in Middle Eastern central banks will bring the equilibrium in the next 5-6 months.

Mubarak's sense of humour already priced in.

Mon, 02/14/2011 - 20:14 | Link to Comment dehdhed
dehdhed's picture

i'm not sure what the chart represents, 10lbs? or perhaps 3.50/oz.  i'm not up on tungsten prices but i would imagine $350 buys a lot of weight

Mon, 02/14/2011 - 16:53 | Link to Comment f16hoser
f16hoser's picture

Did you drill out the tunggy to see if it was filled with gold? You know, someone got confused at the FED Mill and reversed the process by mistake.......Just asking.....

Mon, 02/14/2011 - 13:47 | Link to Comment truont
truont's picture

Tyler, tungsten is the poor central banker's gold....

Mon, 02/14/2011 - 15:22 | Link to Comment Hook Line and S...
Hook Line and Sphincter's picture

very witty Trount...

(I hope you meant it that way)

Mon, 02/14/2011 - 15:38 | Link to Comment Michael
Michael's picture

Tungsten, used in light bulb filaments, will not be residing in the US as light bulbs well no longer be made here, except in the form of salted gold bars.

I wonder how much influence the rule making comity will have when they find out their gold bars have been salted?

You don't have gold/silver, you don't get to make rules no matter how much your ego needs to be massaged Mr billionaire.

Mon, 02/14/2011 - 15:53 | Link to Comment Sokhmate
Sokhmate's picture

salted gold, bisches

Mon, 02/14/2011 - 16:20 | Link to Comment Stuart
Stuart's picture

+1000

Mon, 02/14/2011 - 17:00 | Link to Comment Michael
Michael's picture

I have 24k US gold and platinum quarters from CSN salted with US mint money.

I wonder if I could pass them off as the real stuff?

Mon, 02/14/2011 - 13:48 | Link to Comment uno
uno's picture

when does it reach equilibrium with gold

Mon, 02/14/2011 - 15:23 | Link to Comment ZerOhead
ZerOhead's picture

Damn... you beat me.

Sorry for the unintended pilferage!

Mon, 02/14/2011 - 13:49 | Link to Comment txapela
txapela's picture

clearly, tungsten is the secret ingredient in the iPhone 4.

Mon, 02/14/2011 - 23:24 | Link to Comment StychoKiller
StychoKiller's picture

Since ordinary incandescent bulbs are being phased out, just where is the demand for tungsten coming from?

Tue, 02/15/2011 - 11:56 | Link to Comment BigJim
BigJim's picture

TSA scanners?

From wikipedia:

Tungsten's many alloys have numerous applications, most notably in incandescent light bulb filaments, X-ray tubes (as both the filament and target), and superalloys..

Munitions?

... Tungsten's hardness and high density give it military applications in penetrating projectiles.

Mon, 02/14/2011 - 13:49 | Link to Comment monopoly
monopoly's picture

This is all so surreal. Why even bother anymore.

Mon, 02/14/2011 - 14:17 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Let it be known that as I said last week, the reason the Fed is pumping up stock prices is to get the common people to believe the economy is recovering- YAHOO has the search word "stock prices" in the 5th spot again today, for the umteenth time in the past few weeks.

Tyler, you know what to do.

Mon, 02/14/2011 - 13:51 | Link to Comment breezer1
breezer1's picture

you will have to pry my tungsten from my cold dead hands...

Mon, 02/14/2011 - 15:03 | Link to Comment Thomas
Thomas's picture

That makes you a tungsten bug.

Tue, 02/15/2011 - 11:58 | Link to Comment BigJim
BigJim's picture

Start hoarding and selling incandescent light bulbs and Leviathan may well make your wish come true.

Mon, 02/14/2011 - 13:52 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Tungsten.......as good as Gold.

Mon, 02/14/2011 - 15:25 | Link to Comment ZerOhead
ZerOhead's picture

Not quite yet... the corelation is more like as tungsten goes up gold holds steady or goes down.

Christ... Is that what is actually happening?

Mon, 02/14/2011 - 13:53 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Increased demand for lightbulbs?

Mon, 02/14/2011 - 13:54 | Link to Comment bob_dabolina
bob_dabolina's picture

I can't explain it. You can't eat this shit.

Mon, 02/14/2011 - 13:56 | Link to Comment mark mchugh
mark mchugh's picture

Tungsten, Bitchez (?)

Mon, 02/14/2011 - 13:55 | Link to Comment The Nagus
The Nagus's picture

Wait, this is a precious metal now, correct?

Mon, 02/14/2011 - 17:25 | Link to Comment Hephasteus
Hephasteus's picture

You can bet 500 bars of gold pressed tungsten it is.

Mon, 02/14/2011 - 18:14 | Link to Comment Michael
Michael's picture

I prefer Gold-Pressed Latinum.

Latinum is a rare silver liquid used as currency by the Ferengi Alliance and many other worlds. It cannot be replicated. For ease of transaction, latinum is usually suspended within gold to produce "gold-pressed" latinum. (DS9: "Who Mourns for Morn?")

Denominations of gold-pressed latinum, in order of increasing value, include the slip, the strip, the bar and the brick.

Mon, 02/14/2011 - 13:57 | Link to Comment Devore
Devore's picture

Isn't this like CPI? Steak gets too expensive, little people are expected to substitute ground beef. Gold gets too expensive, banks substitute with tungsten.

Mon, 02/14/2011 - 13:59 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If Bernanke said, "He does not know why the price of gold is rising", then would he not think tungsten a fair substitute?

Mon, 02/14/2011 - 13:58 | Link to Comment SilverIsKing
SilverIsKing's picture

How long until the U.S. Mint sells One Ounce Tungsten Eagles?

Mon, 02/14/2011 - 14:34 | Link to Comment Going Loco
Going Loco's picture

The U.S.Mint probably won't, but I can't speak for that dealer who takes occasional deliveries from China. http://www.tungsten-alloy.com/en/alloy11.htm

Mon, 02/14/2011 - 13:58 | Link to Comment Shameful
Shameful's picture

Rods from God?

http://en.wikipedia.org/wiki/Kinetic_bombardment

Now just have to sucker all the people looking for gold/silver delivery into the same area and one surgical strike to take them out and save the ponzi for another day.

Mon, 02/14/2011 - 14:11 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

The most described system is "an orbiting tungsten telephone pole with small fins and a computer in the back for guidance". The weapon can be down-scaled, an orbiting "crowbar" rather than a pole.[citation needed] The system described in the 2003 United States Air Force (USAF) report was that of 20-foot-long (6.1 m), 1-foot-diameter (0.30 m) tungsten rods, that are satellite controlled, and have global strike capability, with impact speeds of Mach 10, and strike 25-foot accuracy.[3][4][5]

Mon, 02/14/2011 - 17:19 | Link to Comment whatz that smell
whatz that smell's picture

affectionately know by the little dik-diks at the pentagon as "the rods from god"...

..."The X-51 Waverunner is said to be a warhead in the making, which will be filled with thousands of rods 12 times as destructive as a .50-caliber bullet, targeted to shower a designated area using the explosive impact of kinetic rods cratering at hypersonic speeds to destroy targets"....

..."these could come in the form of "precision" munitions or hypervelocity rod bundles, so called "Rods from God," tungsten projectiles lobbed from space at 36,000 feet per second that can "hit a cross-haired target on the ground."

Mon, 02/14/2011 - 17:19 | Link to Comment Drachma
Drachma's picture

With those dimensions and impact velocity we can estimate a total kinetic energy of impact at close to 50 GJ or about 12 Ton TNT equivalent. Frightening that you wouldn't even hear it coming.

For single projectile:

Building evacuation distance: 1200 ft.

Outdoor evacuation distance: 6400 ft.

Mon, 02/14/2011 - 14:02 | Link to Comment carbonmutant
carbonmutant's picture

Is that gold bar or are you trying to shaft me...

Mon, 02/14/2011 - 14:11 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Apparently both. :>)

Mon, 02/14/2011 - 14:56 | Link to Comment carbonmutant
carbonmutant's picture

Truely...lol

Mon, 02/14/2011 - 14:01 | Link to Comment newworldorder
newworldorder's picture

The Yellow Brick Road leads to tungsten city.

Mon, 02/14/2011 - 14:03 | Link to Comment cougar_w
cougar_w's picture

Just wait until Egypt wakes up to the need to refill their vault with the 75 tons of gold the Mubaraks made off with. I'm loading up on tungsten today!

Mon, 02/14/2011 - 14:03 | Link to Comment youngman
youngman's picture

Because JPM and HSBC does not naked short this metal...and there is no ETF for it either....lol

Mon, 02/14/2011 - 14:03 | Link to Comment TideFighter
TideFighter's picture

tungsten plated gold bars?

 

Mon, 02/14/2011 - 14:18 | Link to Comment NOPOMO
NOPOMO's picture

Yes, they need to somehow coverup the plated tungsten.  Sorry, don't worry you made more with your fake gold. 

Very much like the manipulated markets today.  Maybe the FED is paying a premium for fake gold!

Mon, 02/14/2011 - 14:03 | Link to Comment docmac324
docmac324's picture

Tungsten steel is the core element to the M855 5.56 caliber round used by all on ground military personnel in combat.  Black Hills ammunition a primary producer runs 3 shifts 24/7 to simply keep up with the GOV's demand. 

M855's penetrate kevlar flak vests, rendering them useless if stolen or wore by "the enemy".  Not much good in friendly fire incidents either sad to say.

Guess we'll have to start shooting gold at them before long (insert Goldfinger theme song here).

Mon, 02/14/2011 - 14:11 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

These were my first thoughts as well.

Mon, 02/14/2011 - 14:11 | Link to Comment Head for the Hills
Head for the Hills's picture

a few fixes for you....

M855 is a steel core penetrator

M995 is the tungsten AP round.

Also, black hills is making the MK262.

 

Mon, 02/14/2011 - 15:08 | Link to Comment Overflow-admin
Overflow-admin's picture

(to read listening to http://www.youtube.com/watch?v=UnBi3S4PIAY)

"Silver: When most people think of silver weapons killing monsters they think of silver bullets and werewolves, however, silver stakes, spears and daggers have also been known to slow down and kill vampires. Silver is considered to be a metal of purity and has been used for protection against evil in almost every world culture throughout history. Silver can be melted down to form amulets, jewelry, bullets, daggers and religious symbols such as crucifixes. Silver amulets and daggers can be put into the ground above the grave to prevent evil spirits from escaping. Silver nails drove into coffin lids are said to help prevent evil spirits from rising from the grave."

Mon, 02/14/2011 - 17:19 | Link to Comment dark pools of soros
dark pools of soros's picture

then what are the monsters on wall street?? Blythe hasn't melted yet

Mon, 02/14/2011 - 22:15 | Link to Comment ChookChoker
ChookChoker's picture

Silver will be the end of the Blyth-monster yet.

Mon, 02/14/2011 - 14:04 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Ca$h4Tungsten

Mon, 02/14/2011 - 14:07 | Link to Comment TideFighter
TideFighter's picture

Bay of Pigs,

Go Daddy says www.Ca$h4Tunsten is available. Better grab it.

Mon, 02/14/2011 - 14:04 | Link to Comment NOTW777
Mon, 02/14/2011 - 14:06 | Link to Comment skwareman
skwareman's picture

Tungsten eagle's coming up?

Mon, 02/14/2011 - 14:17 | Link to Comment reachsb
reachsb's picture

They are already here. I'm sure that we have some Chinese counterfeit Gold Eagles in the marketplace that are nothing but gold plated tungsten coins . It's just that the owners haven't scratched the surface ;).

You can be sure that it's already happening by reviewing China's annual tungsten imports (to see if there has been a spike in the imports off late). 

 

Mon, 02/14/2011 - 14:07 | Link to Comment Drag Racer
Drag Racer's picture

this really sucks for me due to it being a major element in my product... ggrrr

Mon, 02/14/2011 - 15:35 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

Gold-plated Tungsten bars? 

http://www.capitalresearchinstitute.org

What is Wealth

Wealth is something we want, and yet, we go through most of our lives confusing currency and wealth.  The end result: the never-ending pursuit of ever-increasing digits on a computer screen.   But arguably wealth is a lot more than just money, it is anything “of great worth or quality”.  The other aspects of wealth have been massively downplayed, for most of the last century.

Real wealth is many things, but what will prove to be most valuable in the years to come?  The Capital Research Institute presents: The Top Alternative Measures of Wealth for the 21st Century

1) Skill.   Highly skilled individuals will continue to be highly valued.  Machine operators, teachers,  managers, analysts.  If you are highly skilled in only one area, you also have to be ready to be highly adaptive, in case demand for your skills wane (as law students are finding out).  Being highly specialized will always have its benefits, but it also bears repeating that it also has its negatives...

Mon, 02/14/2011 - 17:22 | Link to Comment dark pools of soros
dark pools of soros's picture

Alchemy.. the skill for forever wealth!

Mon, 02/14/2011 - 14:10 | Link to Comment Boxed Merlot
Boxed Merlot's picture

Sandwich coins, sandwich bars, the important thing is intrinsic value. Even if US coinage was made from this stuff, (it would take a Germain press to stamp the image on it no doubt), it will still be worth more than the fed's ciphers or the treasurys' latest interest bearing script in the long run.

Any metal is Precious comparatively speaking to their issue.

Tue, 02/15/2011 - 12:23 | Link to Comment BigJim
BigJim's picture

I agree it limits the ability to counterfiet money to some extent, but a money's value should reflect its known scarcity.

According to wiki: 

About 37,400 tonnes of tungsten concentrates were produced in the year 2000

Whereas gold production for year 2000 was around 2500 tonnes... a fifteenth as much.

Assuming production figures are still roughly proportional, if we look at the price of gold, it's around $44,000,000 a tonne, whereas tungsten is $42,000 a tonne (http://www.infomine.com/chartsanddata/chartbuilder.aspx?z=f&g=127646&dr=2y).

So fifteen times as much tungsten is produced, but it costs 1/1000 the amount.

Not sure where I'm going with this. I think I need another coffee :-p

Mon, 02/14/2011 - 14:12 | Link to Comment skwareman
skwareman's picture

Maybe the Dutch Central Bank would trade it against it's gold, a perfect hedge against stupidity of what they are famous for....

Mon, 02/14/2011 - 14:12 | Link to Comment bunkermeatheadp...
bunkermeatheadprogeny's picture

Portugal deserved a little good news.

Mon, 02/14/2011 - 14:13 | Link to Comment urbanelf
urbanelf's picture

The Ecstacy of Tungsten.

Mon, 02/14/2011 - 14:13 | Link to Comment kentfinance
kentfinance's picture

check the price of silver and gold spray paint

Mon, 02/14/2011 - 14:16 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Hell yeah, Tungsten Bitchez! 

How's about a Make-Your-Own-Incandescent-Lightbulbs-At-Home kit!

Combine your existing glassblowing skills and surplus tungsten with our kit containing simple instructions on how to Make-Your-Own-Incandescent-Lightbulbs-At-Home.  Feel all of the nostalgia of 2005 while you and the kids sit around and read (just kidding) by the warm light of your own homemade Incandescent Lightbulbs.

Tue, 02/15/2011 - 12:28 | Link to Comment BigJim
BigJim's picture

Tunsten is a major component of some of our most effective peace enforcerment munitions

What are you, some kind of terrorist?

Mon, 02/14/2011 - 14:16 | Link to Comment New Revolution
New Revolution's picture

'Rust Never Sleeps',... especially when its mixed with a double eagle.......

Mon, 02/14/2011 - 14:16 | Link to Comment Running on Empty
Running on Empty's picture

Aside from all the derision, it is a large component of and with many industrial applications. Maybe just maybe it's because someone's actually machining or welding something along with it's other uses. Just saying, lets not miss the forest for the sarcasm.

Mon, 02/14/2011 - 14:17 | Link to Comment Quinvarius
Quinvarius's picture

The central banks stands ready to lease more and more tungsten into the market if the price rises.  LOL.

Yes.  Lets concentrate on gold suppression.  The rising price of gold actually makes the US more solvent as its only asset rises in value to counter the national debt.  But lets sit on it and allow food and material prices to skyrocket instead.

Mon, 02/14/2011 - 14:21 | Link to Comment nontaxpayer
nontaxpayer's picture

X-ray tubes for Homeland Security?

Mon, 02/14/2011 - 14:23 | Link to Comment lsbumblebee
lsbumblebee's picture

Those tungsten investors are gonna be so pissed when they find out there's gold in it. 

Mon, 02/14/2011 - 14:25 | Link to Comment bugs_
bugs_'s picture

Soon they'll be hunting those bars to strip the gold off and get the tungsten!

Mon, 02/14/2011 - 14:33 | Link to Comment papaswamp
papaswamp's picture

Replacing depleted uranium projectiles...down range bitchez!

Mon, 02/14/2011 - 14:38 | Link to Comment jimijon
jimijon's picture

Now that truly made me laugh out loud... too f'ing funny, It's all the Onion now.

Mon, 02/14/2011 - 14:45 | Link to Comment ziggy59
ziggy59's picture

TuGs(tm ;)- Tungsten-Gold All-clad Coinage coming to a Mint near you? you cant question the 400 oz'ers if the coins are the same. Chicken-egg thingy.

 

 

 

 

 

Mon, 02/14/2011 - 14:46 | Link to Comment Xibalba
Xibalba's picture

If Gold is the Kings money, Silver the Gentlemans, Tungsten would be...?

Mon, 02/14/2011 - 15:21 | Link to Comment ziggy59
ziggy59's picture

The sheeples

Mon, 02/14/2011 - 16:04 | Link to Comment Jonathan North
Jonathan North's picture

... for the peasants :>)

Mon, 02/14/2011 - 16:16 | Link to Comment gwar5
gwar5's picture

NASCAR drivers.... tools of the trade to get around the specs

Mon, 02/14/2011 - 22:17 | Link to Comment ChookChoker
ChookChoker's picture

You are thinking of titanium. Its a light metal.

Mon, 02/14/2011 - 17:58 | Link to Comment saulysw
saulysw's picture

... central bankers gold.

Mon, 02/14/2011 - 14:48 | Link to Comment High Plains Drifter
High Plains Drifter's picture

the demand is always high for tungsten and most of us on this blog know the reason for that.

Mon, 02/14/2011 - 14:51 | Link to Comment RobotTrader
RobotTrader's picture

Who would have known that in a period of record money printing, gold would underperform most commodities except for energy and a few softs.

I would have thought that gold would be $2,000 by now and oil at $150.

Mon, 02/14/2011 - 16:14 | Link to Comment gwar5
gwar5's picture

It passed 2000 in Yuan long ago

Mon, 02/14/2011 - 16:38 | Link to Comment Gunther
Gunther's picture

I am astonished that you call for 2000$/oz by now; anyway, in the seventies gold went only up when the money had nowhere else to go. The top '74 happened at almost the same time as the bottom in the DOW, only when the DOW did not advance later on gold started rising again.
Wait for a top in stocks and gold will move up again. Possibly a default at COMEX or LBMA will do the trick too.

Mon, 02/14/2011 - 14:53 | Link to Comment lunaticfringe
lunaticfringe's picture

I've been in the gold plating tungsten business for about 10 years. Margin pressure has been intense lately, but this has been offset by an expanding client base and fantastic top line growth. Most of my orders have been domestic so it keeps my shipping costs down.

Mon, 02/14/2011 - 15:51 | Link to Comment thetruth
thetruth's picture

+1

Mon, 02/14/2011 - 15:07 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Deep storage effect.

Mon, 02/14/2011 - 15:22 | Link to Comment hidingfromhelis
hidingfromhelis's picture

Hedonics and substitution...see what happens when the BLS gets involved?

Mon, 02/14/2011 - 15:23 | Link to Comment Sathington Willougby
Sathington Willougby's picture

FAKE == "PLING"

GOLD == "PLUNK"

Finger snap "B-----Z"

Mon, 02/14/2011 - 16:01 | Link to Comment Hephasteus
Hephasteus's picture

LOL NO.

Fake=plunk

Gold=pling

Mon, 02/14/2011 - 16:10 | Link to Comment gwar5
gwar5's picture

Yeah I'm with you. Tungsten is like a resonating tuning fork.

Gold = plunk

Fake = pling

Mon, 02/14/2011 - 16:32 | Link to Comment Sathington Willougby
Sathington Willougby's picture

Uh oh...

Mon, 02/14/2011 - 17:27 | Link to Comment dark pools of soros
dark pools of soros's picture

and thus the reason why tungsten is in high demand..

Mon, 02/14/2011 - 17:38 | Link to Comment Hephasteus
Hephasteus's picture

Speed of sound in tungsten = 4320 m/s

Speed of sound in gold = 3240 m/s

Pure tungsten will sing like gold and sing at higher pitch.

But when you wrap gold around tungsten you have a massive drop in pitch just like yelling at someone under water. = plunk

Mon, 02/14/2011 - 18:00 | Link to Comment Gunther
Gunther's picture

Huh?

Speed of sound in tungsten: 5174 m/s

in gold: 1740 m/s

in silver: 2600 m/s

All numbers from the German Wikipedia

 

Mon, 02/14/2011 - 18:29 | Link to Comment Hephasteus
Hephasteus's picture

Thanks gunther. I opened back up a bit and they trying to do a diffusion job on me. Thanks for finding the right numbers.

But I did find out why tungsten bars clunk. They have a granulated core with a resin coating.

Mon, 02/14/2011 - 15:25 | Link to Comment Overflow-admin
Overflow-admin's picture

About heavy metals - http://www.youtube.com/watch?v=UnBi3S4PIAY

"Silver: When most people think of silver weapons killing monsters they think of silver bullets and werewolves, however, silver stakes, spears and daggers have also been known to slow down and kill vampires. Silver is considered to be a metal of purity and has been used for protection against evil in almost every world culture throughout history. Silver can be melted down to form amulets, jewelry, bullets, daggers and religious symbols such as crucifixes. Silver amulets and daggers can be put into the ground above the grave to prevent evil spirits from escaping. Silver nails drove into coffin lids are said to help prevent evil spirits from rising from the grave."

 

Listen... and hold... heavy metal... and... Death to the undeaaaaad! Kill JP moooooorgue!

Mon, 02/14/2011 - 15:32 | Link to Comment SavingsTherapist
SavingsTherapist's picture

I'm glad to notice that most readers get why the price has surged. On most sites very few realize.

 

Tungsten is the the change you can believe in!

Mon, 02/14/2011 - 23:33 | Link to Comment StychoKiller
StychoKiller's picture

Tungsten:  Coming soon to the change in your pocket (if not already there!) :>D

Mon, 02/14/2011 - 16:21 | Link to Comment sunnydays
sunnydays's picture

This site linked in Zerohedge and inserted the chart and put a video in about that German fake tungsten bar from last year.  Guess that shows why tungsten it up 70%. Proof is in the pudding, so to say. 

http://sherriequestioningall.blogspot.com/2011/02/tungsten-up-70-in-valu...

 

Mon, 02/14/2011 - 16:27 | Link to Comment vas deferens
vas deferens's picture

Once again ZH was all over this story way in advance...

Tungsten / gold bars destined for Ft. Knox were allegedly trucked direct to Kentucky for exchange with “what ever was left” in the depository which was stolen outright – but bringing the outstanding in Ft. Knox up to 640 thousand – 400 oz tungsten bars which are there now.
10,000 metric tonnes of fake gold bars earmarked for the intl. markets were supposedly hallmarked and “papered” as going through a holding facility of Engelhard [Vancouver] and trucked back to Mena, Arkansas and then on to Panama – TO SIT – awaiting distribution into the intl. market.
The big questions beside “greed” – is “why” and “how” does one feed 10,000 metric tonnes of fake gold into the international market?
The Motive
Take a look at when Rubin / Summers instituted their “Strong Dollar Policy”: Understand, weakness [capping] of the price of gold along with stimulative and arbitrarily low interest rates [to give the U.S. economy a false, bolstered illusion of health].

Full story....

http://www.zerohedge.com/sites/default/files/tungsten%20genesis.pdf

 

This is way ZHs the greatest!!

 

 

 

Mon, 02/14/2011 - 16:29 | Link to Comment jmc8888
jmc8888's picture

I can see CNBC's take on it

"You're Gold may be Tungsten....here's why it is good"

Mon, 02/14/2011 - 20:52 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

+1

Mon, 02/14/2011 - 16:30 | Link to Comment Joe Sixpack
Mon, 02/14/2011 - 18:03 | Link to Comment Gunther
Gunther's picture

Both fakes can be detected with ultrasound.

Likely the ping of molybdenum will be different too, and happy machining that stuff.

Melting molybdenum is difficult, it melts at over 2600 C wile silver melts at 961 C.

Mon, 02/14/2011 - 23:36 | Link to Comment StychoKiller
StychoKiller's picture

The Climax mining Co. was in the process of moving an entire mountain in Colorado, for the Molybdenum (who was the tongue-twisted jerk that named this element, anyway?).

Mon, 02/14/2011 - 16:42 | Link to Comment Futurist
Futurist's picture

Is tungsten in a bubble?

Another silly question after replacing all those tungsten light bulbs in Europe with energy saving ones, what is now the demand driver for tungsten?

Silly me it's the central banks!

Mon, 02/14/2011 - 16:50 | Link to Comment redpill
redpill's picture

Any central banker worth their salt knows to keep some tungsten around.

Mon, 02/14/2011 - 18:04 | Link to Comment saulysw
saulysw's picture

Go long Pan Galactic Gargle Blasters!

"... is like having your brains smashed out by a slice of lemon wrapped round a large gold brick"

Mon, 02/14/2011 - 18:13 | Link to Comment NewThor
NewThor's picture

If you eat one ounce of Tungsten a day, it keeps your traditional

marriage safe from Homosexuals.

Mon, 02/14/2011 - 19:24 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

Uh, hello? You need tungsten if you are going to dip Tungsten bars and pass them off as gold to hide the actual state of physical gold markets. You think it's beneath these devils to do it? This last act of defiance carries a bonus of casting new doubts as to the integrity of all physical transactions in gold, as well. They will absolutely pull out every stop here at the end of the rope...

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