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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 | 960115 Thomas
Thomas's picture

Very funny (bitchez, of course).

Mon, 02/14/2011 - 14:34 | 960307 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 | 960339 Turd Ferguson
Turd Ferguson's picture

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

Mon, 02/14/2011 - 15:21 | 960475 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 | 960626 johnQpublic
johnQpublic's picture

isnt tungsten vital in the production of gold bars?

Mon, 02/14/2011 - 23:22 | 962445 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 | 963372 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 | 960631 Turd Ferguson
Turd Ferguson's picture

good point

Mon, 02/14/2011 - 17:21 | 961128 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 | 961847 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 | 960974 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 | 960118 truont
truont's picture

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

Mon, 02/14/2011 - 15:22 | 960478 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 | 960546 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 | 960636 Sokhmate
Sokhmate's picture

salted gold, bisches

Mon, 02/14/2011 - 16:20 | 960773 Stuart
Stuart's picture

+1000

Mon, 02/14/2011 - 17:00 | 961018 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 | 960122 uno
uno's picture

when does it reach equilibrium with gold

Mon, 02/14/2011 - 15:23 | 960481 ZerOhead
ZerOhead's picture

Damn... you beat me.

Sorry for the unintended pilferage!

Mon, 02/14/2011 - 13:49 | 960126 txapela
txapela's picture

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

Mon, 02/14/2011 - 23:24 | 962459 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 | 963573 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 | 960127 monopoly
monopoly's picture

This is all so surreal. Why even bother anymore.

Mon, 02/14/2011 - 14:17 | 960243 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 | 960135 breezer1
breezer1's picture

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

Mon, 02/14/2011 - 15:03 | 960396 Thomas
Thomas's picture

That makes you a tungsten bug.

Tue, 02/15/2011 - 11:58 | 963579 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 | 960138 Cognitive Dissonance
Cognitive Dissonance's picture

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

Mon, 02/14/2011 - 15:25 | 960491 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 | 960141 Sophist Economicus
Sophist Economicus's picture

Increased demand for lightbulbs?

Mon, 02/14/2011 - 13:54 | 960149 bob_dabolina
bob_dabolina's picture

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

Mon, 02/14/2011 - 13:56 | 960152 mark mchugh
mark mchugh's picture

Tungsten, Bitchez (?)

Mon, 02/14/2011 - 13:55 | 960155 The Nagus
The Nagus's picture

Wait, this is a precious metal now, correct?

Mon, 02/14/2011 - 17:25 | 961155 Hephasteus
Hephasteus's picture

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

Mon, 02/14/2011 - 18:14 | 961388 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 | 960158 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 | 960161 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 | 960164 SilverIsKing
SilverIsKing's picture

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

Mon, 02/14/2011 - 14:34 | 960284 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 | 960165 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 | 960213 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 | 961105 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 | 961119 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 | 960177 carbonmutant
carbonmutant's picture

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

Mon, 02/14/2011 - 14:11 | 960217 Cognitive Dissonance
Cognitive Dissonance's picture

Apparently both. :>)

Mon, 02/14/2011 - 14:56 | 960378 carbonmutant
carbonmutant's picture

Truely...lol

Mon, 02/14/2011 - 14:01 | 960178 newworldorder
newworldorder's picture

The Yellow Brick Road leads to tungsten city.

Mon, 02/14/2011 - 14:03 | 960182 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 | 960183 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 | 960184 TideFighter
TideFighter's picture

tungsten plated gold bars?

 

Mon, 02/14/2011 - 14:18 | 960245 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 | 960187 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 | 960218 hedgeless_horseman
hedgeless_horseman's picture

These were my first thoughts as well.

Mon, 02/14/2011 - 14:11 | 960220 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 | 960414 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 | 961122 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 | 962253 ChookChoker
ChookChoker's picture

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

Mon, 02/14/2011 - 14:04 | 960189 Bay of Pigs
Bay of Pigs's picture

Ca$h4Tungsten

Mon, 02/14/2011 - 14:07 | 960200 TideFighter
TideFighter's picture

Bay of Pigs,

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

Mon, 02/14/2011 - 14:04 | 960191 NOTW777
Mon, 02/14/2011 - 14:06 | 960196 skwareman
skwareman's picture

Tungsten eagle's coming up?

Mon, 02/14/2011 - 14:17 | 960240 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 | 960197 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 | 960526 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 | 961133 dark pools of soros
dark pools of soros's picture

Alchemy.. the skill for forever wealth!

Mon, 02/14/2011 - 14:10 | 960207 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 | 963673 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 | 960219 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 | 960222 bunkermeatheadp...
bunkermeatheadprogeny's picture

Portugal deserved a little good news.

Mon, 02/14/2011 - 14:13 | 960224 urbanelf
urbanelf's picture

The Ecstacy of Tungsten.

Mon, 02/14/2011 - 14:13 | 960225 kentfinance
kentfinance's picture

check the price of silver and gold spray paint

Mon, 02/14/2011 - 14:16 | 960232 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 | 963686 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 | 960233 New Revolution
New Revolution's picture

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

Mon, 02/14/2011 - 14:16 | 960234 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 | 960235 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 | 960256 nontaxpayer
nontaxpayer's picture

X-ray tubes for Homeland Security?

Mon, 02/14/2011 - 14:23 | 960263 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 | 960277 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 | 960303 papaswamp
papaswamp's picture

Replacing depleted uranium projectiles...down range bitchez!

Mon, 02/14/2011 - 14:38 | 960318 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 | 960345 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 | 960347 Xibalba
Xibalba's picture

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

Mon, 02/14/2011 - 15:21 | 960474 ziggy59
ziggy59's picture

The sheeples

Mon, 02/14/2011 - 16:04 | 960689 Jonathan North
Jonathan North's picture

... for the peasants :>)

Mon, 02/14/2011 - 16:16 | 960756 gwar5
gwar5's picture

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

Mon, 02/14/2011 - 22:17 | 962263 ChookChoker
ChookChoker's picture

You are thinking of titanium. Its a light metal.

Mon, 02/14/2011 - 17:58 | 961333 saulysw
saulysw's picture

... central bankers gold.

Mon, 02/14/2011 - 14:48 | 960354 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 | 960361 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 | 960740 gwar5
gwar5's picture

It passed 2000 in Yuan long ago

Mon, 02/14/2011 - 16:38 | 960891 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 | 960367 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 | 960624 thetruth
thetruth's picture

+1

Mon, 02/14/2011 - 15:07 | 960411 Al Gorerhythm
Al Gorerhythm's picture

Deep storage effect.

Mon, 02/14/2011 - 15:22 | 960477 hidingfromhelis
hidingfromhelis's picture

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

Mon, 02/14/2011 - 15:23 | 960480 Sathington Willougby
Sathington Willougby's picture

FAKE == "PLING"

GOLD == "PLUNK"

Finger snap "B-----Z"

Mon, 02/14/2011 - 16:01 | 960677 Hephasteus
Hephasteus's picture

LOL NO.

Fake=plunk

Gold=pling

Mon, 02/14/2011 - 16:10 | 960727 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 | 960852 Sathington Willougby
Sathington Willougby's picture

Uh oh...

Mon, 02/14/2011 - 17:27 | 961163 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 | 961226 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 | 961341 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 | 961443 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 | 960486 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 | 960517 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 | 962486 StychoKiller
StychoKiller's picture

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

Mon, 02/14/2011 - 16:21 | 960780 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 | 960819 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 | 960826 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 | 962004 Hugh_Jorgan
Hugh_Jorgan's picture

+1

Mon, 02/14/2011 - 18:03 | 960947 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 | 962496 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 | 960915 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 | 960952 redpill
redpill's picture

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

Mon, 02/14/2011 - 18:04 | 961356 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 | 961382 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 | 961649 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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