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Bank Caught Using Fake Gold As Reserve Capital In Russia
Over the past several years, incidents involving fake gold (usually in the form of gold-plated tungsten) have emerged every so often, usually involving Manhattan's jewerly district, some of Europe's bigger gold foundries, or the occasional billion dealer. But never was fake gold actually discovered in the form monetary gold, held by a bank as reserve capital and designed to fool bank regulators of a bank's true financial state. This changed on Friday when Russia's "Admiralty" Bank, which had its banking license revoked last week by Russia's central bank, was reportedly using gold-plated metal as part of its "gold reserves."
According to Russia's Banki.ru, as part of a probe in the Admiralty bank, the central bank regulator questioned the existence of the bank's reported quantity of precious metals held in reserve. Citing a source, Banki.ru notes that as part of its probe, instead of gold, the "regulator found gold-plated metal."
The Russian website further adds that according to "Admiralty" bank's financial statements, as of August 1 the bank had declared as part of its highly liquid assets precious metals amounting to 400 million roubles. The last regulatory probe of the bank was concluded in the second half of August, said one of the Banki.ru sources. Another source claims that as part of the probe, the auditor questioned the actual availability of the bank's precious metals and found gold-painted metal.
The website notes that shortly before the bank's license was revoked, the bank had offered its corporate clients to withdraw funds after paying a commission of 30%. This is shortly before Russia's central bank disabled Admiralty's electronic payment systems on September 7.
Admiralty Bank was a relatively small, ranked in 289th place among Russian banks in terms of assets. On August 1 the bank's total assets were just above 8 billion roubles, while the monthly turnover was in the order of 40-55 billion rubles. The balance of the bank's assets was poorly diversified: two-thirds of the bank's assets (4.9 billion rubles) were invested in loans. The rest of the assets, about 30%, were invested in highly liquid assets.
Or at least highly liquid on paper: according to Banki.ru the key reason for the bank's license revocation was the central bank's insistence that the bank had insufficient reserves against possible loan losses.
The Russian central bank has not yet made an official statement.
The first question, obviously, is if a small-to-mid level Russian bank was using gold-plated metal to fool the central bank about the quality of its "gold-backed" reserves, how many other Russian banks are engaged in comparable fraud. The second question, and perhaps more relevant, is how many global banks - especially among emerging markets, where gold reserves remain a prevalent form of physical reserve accumulation - are engaging in comparable fraud.
Finally, what does this mean for gold itself, whose price on one hand is sliding with every passing day (thanks in part to what is now a record 228 ounces of paper claims on every ounce of physical gold as reported before), even as it increasingly appears there is a major global physical shortage. If the Admiralty bank's fraud is found to be pervasive, what will happen to physical gold demand as more banks are forced to buy the yellow metal in the open market to avoid being shuttered and/or prison time for the executives?
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yikes
Obviously had a JPM advisor on staff.
USA caught using fake imitation propaganda http://www.philiacband.com/propaganda.html
Short Tungsten, long Gold.
At least the Russian Banksters are sent for involuntary holidays in Siberia. In the USSA, criminals like Corzine walk free on beaches with their squeezes.
Google "Corzine on beach with girlfriend".
I'll bet that the babe is hanging around this ugly degenerate fat fuck because of his kindness, charm, and 3 inch schlong, sarc off/
Yet when Strauss Khan found the same thing here in the states, he was arrested for raping a maid. What a joke this place has become.
C'mon Corzine we know that's you. Anyway, are all the suckers who borrowed against their "reserves" going to get their interest back?
Luckily, I'm still long the Dong.
Your Dong can never be too long, it is said.
Damn! I HATE it when they scrape the spray paint off.
Next buyer...
Gold is not safe, if even banks can be fooled, so can you. All the gold you bought are fake.
I don't buy your fake gold chain or your Obama dindus ass bull shit.
At least their reserves get audited. If America's reserves were audited today, I bet they would be compltely empty.
Audit the Fed, then End the Fed! We will continue moving in the wrong direction until that happens!
Yeah, but who’s going to pull the NY Fed’s ticket for the same reason?
If you downvote this, you agree on the fact that bitcoin is superior to gold regarding couterfeiting and known supply.
you gys are all so negative. Gold paint is a liquid assett, is it not?
I wonder how they found out it was fake?
"How many other Russian banks are engaged in comparable fraud"
More like how many banks in the world are doing this?
It makes one wonder how they came upon the idea of making their fake gold. It would require a few people and the use of some interesting equipment. Once the system of creating fake gold were in place, then the method could be "sold" to other people in the know. If I had to guess, and it is only a guess, this is not some "one off" event. If the powers that be were to go "Stalin" over the perpetrators, the truth would come out, and it would come out real fast.
Send me your gold and I'll test it for ya free of charge.
@ Publicus
The bank was not fooled. It was their scam. The auditors were not fooled for long.
If you can be fooled by painted base metal, I have some gold to sell you.
Good thing i remember where I lost my assayed gold in that boating accident. Now if im not to old to dive that deep i may be in luck.
Promises from liars are worthless.
RIPS
At least you will never be too old to muff dive, especially if you have 'recovered' gold to flash.
2016 - Who's going to be able to flash some gold he really owns?
This might come in handy..
http://www.divedesco.com/P/142/USNavyHeliumMarkVDivingHelmetwDoubleExhau...
Dude, she's a hag. She is almost as ugly as that boner assassin on fox news, Greta something.
This gold is just like yellow M&M's. Nice yellow shell with a dark chocolate center.
What this article didn't say is how much of their gold reserves were M&M's and the affected value in Rubles or Dollars.
They should claim those fake gold bars were art.
http://thesaker.is/ukraine-sitrep-september-10th-2015-by-scott/
Fuck you. Fuck your awful and contrived website. Fuck your pretentious and terrible music. The only thing more false than your comments leading into your masturbatory hyperlinking, might be the phony gold mentioned by this article. Did I mention that you should go fuck yourself?
USA caught using fake imitation propaganda
What the USA needs is real imitation propaganda.
Gold paint is more valuable than paper gold
Yes, can we get that Russian regulator to down the elevator in the NY Fed or the JPM building across the street?
Doesn't the COMEX engage in this type of fraud every day?
The FED
Exactly! But the Feds just don't allow anyone to see their tungsten.
Another reason gold backed currencies are impossible to secure and keep out fraud.
Bitcoin uses an open, immutable ledger which cannot be forged.
Bitcoin , BTChezzz.
Blythe and the soon-to-emerge bitcoin speculation/derivatives scam say otherwise.
Differentiate between Bitcoin the open-source, decentralized currency/ledger and any person or scam using said currency. All the criminals in the world use the US Dollar - so what? Blythe is just another criminal.
The soon-to-emerge Bitcoin derivatives are a try at controlling and profitting off this global phenomenon, and they might be used for manipulating price just like they do it with PMs.
Aye, matey! Now remember me again, just where is it Ms Blythe has been a workin' in the past and what be happenin' thar under her tutelage?
Aye. Be lookin' for the deep six, they is.
If she tried she would would fail miserably, since bitcoins are not paper where you can play the same tricks as with stocks, certificates, derivatives a.s.o. Also bitcoin is traded on many different exchanges around the world, Wall St has no monopoly. Nor do they have the bitcoin funds to influence the market. I think Blythe is smart enough to understand this.
impossible to secure and keep out fraud?
http://www.nytimes.com/2015/08/02/business/dealbook/mark-karpeles-mt-gox...
What happened to those 850,000 bitcoins? Were they secure and unfrauded?
They were used to purchase tiger penises, sloths, and Columbian hookers.
Columbian hookers would be mummies by now. Maybe that's their thing.
I get dibs on the penises!
No they were stolen by governments to produce instability in an otherwise incorruptible market.
Yes, they were secure, but the owners attended a beach party and negligently forgot to take their "paper wallets" out of their trunks before swimming.
MtGox was not a trustless system, their own fault.
MtGox's name said it all: "Magic: The Gathering Online eXchange". ...and its gone!
in an emp at least you can throw the fake gold at someting to stop it. Your bitcoin will be as hard to find as Mooch Obama's cock.
bicoin
You shouldn't have fixed it. In that context, you spelled it right.
Double Spending Risk Remains After July 4th Bitcoin Fork
The result was a fork in the network that created two versions of the bitcoin blockchain, which continued for six blocks on 4th July. An additional three invalid blocks were added to the blockchain in a repeat of the issue the following day.
As a result, Core developers issued a warning on Bitcoin.org requesting that wallet providers place increased scrutiny on incoming transactions due to the risk that funds could be double spent as a result of the discrepancy between chains.
In this case, certain mining pools were SPV mining, meaning that they were not validating the full version of the bitcoin blockchain. In turn, these invalid blocks were being considered valid by bitcoin wallet providers and block explorers running SPV versions of software as opposed to full nodes with the entire history of the ledger.
Fabio Federici, CEO of blockchain intelligence provider Coinalytics, explained to CoinDesk:
"SPV clients were claiming they would follow the BIP66 rules, but they were not actually enforcing them. A big part of the mining network is not running on full nodes, which would validate every transaction."
In its warning, Bitcoin.org, said customers whose bitcoin transactions were confirmed before midnight (UTC) on 6th July have not been affected by the glitch, though transactions carried out after this time are believed to have "significantly less reliable" confirmation scores.
I bet its worth more than paper gold.
Manhattan's jewerly district
Jewer than most districts. You got that right.
"Prison time for the executives"---comedy gold.
*palladium
it is no joke
"But never was fake gold actually discovered in the form monetary gold, held by a bank as reserve capital"
That haven't audited the Fed have they!
Chinatown or little india are the only places in my city where you'll get real gold and silver...I dont know if you can even trust the mint anymore
Why wont Russia expose 911 truth?
Russia already has, but the info was published in Russian on a rather obscure military sitg.
link it
Can't find the original article, but I think this link may help.
http://anonhq.com/2015-year-truth-putin-reveals-possession-911-satellite...
I give you General Konstantin Petrov:
https://www.youtube.com/watch?v=WApxyuwKIqI
BTW. Nice try on all this 9/11 bullshit. It happened. OBL took credit. Al Qaeda pissed their robes whilst never denying they were involved. Why? Because they did it thats why...
And I give you Lt. Gen. Ion Mihai Pacepa
The highest-ranking Soviet bloc intelligence official ever to defect to the West, Lt. Gen. Ion Mihai Pacepa is at it again.
Disinformation: Former Spy Chief Reveals Secret Strategies for Undermining Freedom, Attacking Religion, and Promoting Terrorism
How the Soviet bloc planted 4,000 agents of influence in the Islamic world, armed with hundreds of thousands of copies of the most infamous anti-Semitic book in history, to fan the flames of ancient Arab resentments against the U.S. and Israel and sow the seeds of anti-Semitism that would later bloom in the form of violence and terror toward Jews and Christians.
http://www.amazon.com/Disinformation-Strategies-Undermining-Attacking-Pr...
OBL catergorically denied all involvement in an interivew in Pakistan immediatly following the event, regardless of how many grainy videos of men in fake beards popped up afterwards. This was a precise operation beyond the skill and resources of this obvious patsy.
http://www.globalresearch.ca/interview-with-osama-bin-laden-denies-his-i...
Yea except for the part whereby he admits to it. He even goes so far to elaborate on the enginnering concepts of the attack and was pleasntly surprised by the total collapse.
USE LOGIC:
Why would he admit to it at all? Why didn't he spend the rest of his time on the run catagorically denying it to everyone? He was releasing videos and he never denied it. He had the entire media world hanging off his every word and yet -- never denied it.
He knew that taking claim for the attack would mean his death, and near everyone around him. This would also include thousands of innocent Muslims caught in the cross fire and wholesale destruction of large swaths of Muslim geography -- and yet -- he never denied it.
Do you really think he was so vain, egotistical and or psychologically unstable to bring on all this destruction and death to HIS name by claiming credity for something he diden't do?
THINK ABOUT IT LIKE THIS:
Suppose you have a bank down the street from you, for sake of argument lets say its Bank of America. You hate this bank. The fees, the people that work there -- everything about the bank. Then one day the bank is robbed and totally cleaned out. You are suddenly quite pleased. But then, the door bell rings and the cops are there saying "We have a witness that you robbed the BofA down the street. You are under arrest". Now, are you going to take the blame for robbing the bank and go to prison even though you hated the bank soooooo much? Hell no! You are going to jump and immediatly scream "It wasn't me!" Don't even argue that...
If the US Gov actually did 9/11, and OBL knew this -- then WHY would he ever let the US Gov pin something on him he didn't do -- That would mean that OBL let America win! No way dude. No way.
It's called logic. He and Al Qaeda did it. BTW, nobody from Al Qaeda ever denied their involvement either which speaks volumes.
http://abcnews.go.com/WNT/video/osama-bin-laden-911-confession-13506877
It never ceases to amaze how even the most seemingly intelligent persons still believe that OBL and Al Qaeda did it. How did OBL defeat the most sophisticated air defense networks in the entire world, including Moscow? Why did they crash into the twin towers, instead of 3 mile island, striking a REAL blow against America? How did Building 7 fall all by itself, imploding perfectly into it's own footprint? And so on....
Outside of the USSA, few informed people actually believe the official story. They know that it is BS, that 9/11 gave Amerika the excuse to attack anyone she wanted, and to destroy domestic freedoms.
Even if it was true that OBL was behind 9/11, it was the CIA that CREATED OBL in the 1980's to harass the Russians in Afghanistan. So in a real sense, the USSA, through it's Al Qaeda proxy, was ultimately responsible for 9/11.
veterans today is like MAD magazine.., just crap.
No one quoted it either.
Because the Zios will out Putin's circumcision and Kapa.
I'll take tungsten any day. At least it can illuminate. What does gold do but make men act like men?
Okay, I'll sell you all the tungsten you want, but you gotta pay in gold. ;-)
p.s. there is no reason to favor gold over, say, skateboards, except that gold cannot be created but in the furnaces of supernovae and likewise rage, and it "lasts forever." Instinct tells us that gold and silver are valuable. Instinct also tells us that women and men are not the same. This is the age of defying instinct. In older times, it would have been seen as stupid and suicidal, but these days it's "hip", "cool", and "politically corect", etc...
A fiat fallacy.
Or, did you mean phalluscy?
With fiat, it's flaccidity.
Interesting fact. Nobody knows how much gold is being passed around by man. There are many "estimates" of how much gold has been pulled out of the ground, but they are just estimates.
Another interesting fact. Gold is a cumulative asset. We bring it out of the ground and then stack it in a vault somewhere. Some for industrial but a pittance. So, what happens when one morning we wake up to a headline that says:
"Wherethefuckastan in the Subwest African Sahara has just discovered the largest gold reserve in the world. It is estimated to be at 80 million metric tonnes and it is two feet beneath the surface. Represntatives from the leading gold and mining companies are already on the ground negotiating with the government of Wherethefuckastan and their entire population of 167 people. The early reports are that large amounts of the gold (tonnes) will be on the market within 6 months. "
You think that scenario above can't happen? Look up "peak oil" and the supposed impossibility of finding large amounts of oil. Make no mistake, this could easily happen -- and then what? Gold goes to $50 and we all try to figure out an industrial use for it that takes it to $60...
What's the greater possibility? The u.s. Enter hyperinflation due to monumental debt issuance and monetary printing... Or we find a mountain of gold after thousands of years searching for it.
Whats the greater possibility? The US is just fine because the greatest wealth transfer in the history of mankind (Baby Boomers to inheritors) fill the gov tax coffers and supercharge the economy and we are just fine.
Or
The global price in gold goes to $50 per oz because the market implodes due to the fact nobody knows how much fake gold is actually in the market -- and many central banks won't allow anyone to verify if theirs is real or not?
Here ya go. The answer.
One Troy ounce Warking Liberty tungsten gold plated American eagle coin for collectible and art
http://www.alibaba.com/showroom/gold-plated-tungsten-coin.html
dont know if it would implode but people should check that link out before they buy 1oz gold coins. i wonder if the tungsten can fool the Fisch...
http://thefisch.com/
Hmmm...
Wasn't the U.S.British and EU government(s) complicit in that kind of fraud a few years back?..
Let me guess... Jamie and Lloyd have friends in "high places" at Admiralty Bank!
And so, it starts getting more real
It began with the looting of Ft Knox, then the creation of GLD, then the German repriation fiasco, now
rehypothecated tungsten.
This is what happens when you don't go to Wharton Business School.
banks are hollow shells full of fraud
100% backed by bitcoin, so no worries here.
I would like to compare Russian justice and American justice when it comes to bank fraud. We will find out when/if someone is arrested. How is John Corzine doing today?
I've been long Tungsten for years.
I've been thinking about making a tungsten core Panda coin showing a Panda raping a Japanese school girl. I figured it would sell well in China even if it was obviously bogus.
Another chapter from the book "The hunt on Hard Assets". It's almost hunting season, not adjustable.
Duh, I'm da captain!
My 27lbs are good, I checked.
1) You have a GE Phasor XS? You know if GE creates a product made to test gold ingots to see if their fake -- then there is a BIG problem. GE is not in the business of developing and then selling five whole units... They want to sell a shit ton of these -- and why?
2) If your "27lbs" are all real, fine. But what does it matter? EVERY financial entity on this planet will sell their gold because it is their fiduciary responsibility to do so. The manager holding an asset that is crashing because a global issue on the "veracity" of the market will be drawn and quartered. Ergo its SELL SELL SELL so that means your 27lbs will be worth a fraction of todays value.
---
Testing the Purity of Gold Bars with Phasor XSAlan Hunscott, Technical Support Manager of GE's Inspection Technologies product line demonstrates how Phasor XS uses phased array ultrasonics, the same technology as that used in medical diagnosis and fetal scanning, to test the purity of gold bars.
https://www.youtube.com/watch?v=dZeGqAwPdec
And the difference between phoney gold and phoney Federal Reserve notes is?
Well, if you show me the phoney Federal Reserve note, I'd probably be able to tell you...
piker
Physical money like Talley sticks were impossible to counterfeit.
Half of the stick was kept in guarded storage, and grain structure of one side had to match the other. One side circulated as money, and the other was stored as a record. Sticks were ususally hazlewood cut lengthwise. Notches placed on the stick indicated its value. These sticks were issued by Government to pay for things it needed from private sector.
Government would accept these sticks for taxes, and then re-spend them, so they had a circular flow as money.
People in England would solve their debts at large fairs, like Mayfair. Within fair they would issue script that could not leave fairgrounds.
Three types of money ciruclated within the fair: sticks, metal money, script.
Sticks became predominate after Jews were kicked out around 1100. Jews were using their usury mechanism and allowing debts to grow exponentially. To settle debts they would grab real assets like houses and land. Within about 100 years they had put land to land, and peasants were in revolt...
This is the MAIN REASON MAGNA CARTA was written. The orignal magna carta discusses how to deal with debts owed to Jews, especially since the debts were usurious.
When Jews were kicked out, they were allowed to take their metal money with them. Hence, money supply collapsed, and England had to go to Talley stick system.
Some small amount of coins remained, and those were used at the fairs to settle credits/debts as mentioned above. This system lasted for about 500 years, and England prospered well under it.
Getting rid of real lawful sovereign money is another reason why the parasite attacked England. A country that has its own sovereign money will soon find itself under attack by the "International."
Gold is not money...it is just metal. Money is law. Scientific law money is VOLUME CONTROLLED, and channels in paths that are beneficial to the commons. Russia is stll srewing up on the money front, their BRICS system is a debt spreading system, and debts will grow with usury, at an exponential, and this growth is outside of nature.
Metal money was only made non fraudulent a few times in history. In upper middle ages, some pre-german areas (Hanseatic League) would recall gold and re-issue it. This prevented clipping, and forced it into circulation. It was recalled as a head tax, which doubled as a census. In upper middle ages, Talley system in England meant that a laborer only had to work about 4 months a year to support a family of four. He had meat everyday - usually mutton, a thatched roof, good wollen clothing.
All Cathedrals they built are a legacy to be viewed. Their art and buidings are still around, and they built them with volunteer labor, since they had most of the year as vacation.
Usury on money really is that bad - it is a mortal sin. Even Jews are supposed to not exercise this mechanism, yet they do as they think their "god" tells them it is ok. Actually it is their psychopathic prophets .. the sages, especially those sages who have written in Talmud.
Man is under hypnosis.
Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosi, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years.
https://en.wikipedia.org/wiki/Silver_standard
Imagine that. A stable monetary system for nearly 400 years.
However, in 1158, King Henry II introduced Tealby penny. English currency was almost exclusively silver until 1344, when the gold noble was put into circulation. However, silver remained the legal basis for sterling until 1816.
So that makes more than 600 years on a silver standard. Which fiat reserve currency even comes close?
Wow. It's like reading a sentence where all the words are right but the order is completely jumbled. You know about all the major monetary events in English history, but have literally EVERYTHING mixed up, jumbled, and twisted.
Yes, tally-sticks were used by the Crown as a substitute for metal currency which was in short supply, as England had no deposits of precious metals and little foreign trade. As the economy recovered following the Dark Ages, the total amount of metal available for circulation was limited to that left over from the Romans, and much of that had been buried and lost, or carried off by the Vikings. Hence, tally-sticks. And yes, three forms of currency circulated at fairs, towns and in general, but scrip, as Letters of Credit, was relatively rare and usually used between men who knew each other well. The only source of large amounts of precious metal were the Jews, who were the only people who carried on cross-Continent trade at the time. Therefore, the Kings racked up enormous debts to them, and the simplest way to default on the debt was to blame the Jews, which Richard the Lionhearted was happy to do.
Britain managed very well without Jews or bankers for the next four centuries (only Cromwell let them back in), true. Peasants didn't eat a lot of meat, though, and they didn't volunteer to work on cathedrals for free because they only needed four months' of work during the year to make a living. WHERE did you pick up such tripe? Escaped serfs were glad to find work doing any kind of heavy labor in towns, which they ran to because of interpersonal conflicts with their lords -- their bosses. These were typical "he's a tyrannical overbearing sunovabitch" types of conflicts, but if they stayed on the lord's land, they could easily end with the serf's death. So he would run away to a free town, and once there, he was like any unemployed worker -- he needed a job in order to eat. Cathedral building provided a lot of jobs.
Magna Carta was about establishing the rights of the aristocracy vs the King. Kings often employed Jews as tax officials because they weren't as squeamish about collecting as good Christians. And re-calling/re-issuing coinage was a common solution to money shortages and clipping across Europe from the rise of towns until the mines of the New World doubled the silver supply and initiated galloping inflation.
Usury is a sin, agreed. Bankers, if allowed to exist at all, need to be firmly controlled by a government at arms' -- preferably sword-arm's -- length. Medieval kings had a handle on how to do this. But man, your misconceptions about the time could sink an oil tanker.
Like the russians are the only ones doing this....
Bank executives do not get jail time in the western world. China hangs them and Russia probably kills them slowly. If you have a bankster infestation problem starting you have to exterminate them quickly before they take over the government. Now everybody is hoping that Putin is going help the west with its incurable blight since the banksters already infested western governments and taken over their militaries. I'm certain Putin will have fun dealing with a single case of banksterism. If it has already spread to other banks in Russia it may be too late and we are already doomed.
" . . . the banksters already infested western governments and taken over their militaries."
Well, there you have the solution. Just agree the next time they start chomping about how we have to go to war with Iran, Syria, Russia, etc. Bankers CAN'T FIGHT. They have absolutely NO idea how to make a military work, and any military they control is doomed to fail. Expensively.
JPM Gold ETFs?
Well, at least there was something there instead of wholly imaginary gold or gold that belongs to someone else.
Ergo. Can't trust anything gold.
I believe it goes like this.
SELL SELL SELL.
Why? Tungsten plated gold is not impossible to detect.
North Korea makes $100 "supernotes" that are so good even the experts have trouble detecting them -- and yet the sheeple continue using FRNs anyway. So tell me again why would gold be any different just because some people will attempt to pass off counterfeit gold?
"gold-painted metal" Amatures! They could have at least used 'goldtone'. You know, the stuff use on Rolex knockoffs.
They're Russians, and their machismo (spermatozoa) is a bit suspect...just ask Olga why she begs online to flee.
I paint mine black and use them as barbells in the basement.
Stooping to using fake barbarous relics? Pet rocks/worthless trinkets yet they have to manufacture fakes?
Gold ain't money and doesn't count, right Janet?
Right?
Amateurs. Professionals first go to JP Morgan - Goldman Sachs school of fraud.
All caps, all bold.
Well what else can they do with tungsten now that ordinary tungsten filament light bulbs are banned.
https://en.wikipedia.org/wiki/Kinetic_bombardment
I bet it was part of an gold-for-oil exchange with the Chinese. There's an epidemic of that shit in China.
"I look forward to many more of these tungsten stories.
I stake my very existence upon the premise that the emperor has no clothes.
As a solution I propose that all currency be backed by titties!"
Well, if not tungsten, silicone. You just can't win.
Kudos to Russia for watching and policing its banks. I still wonder if there's more than dust on the floor in Ft. Knox?
No banks will be forced to buy gold on the open market to shore up their reserves. They will either be bailed out or closed down. Buying gold is anathema to the system.
Here's an Android app Bullion test using resonance for gold and silver coins. This is really accurate and you will never wonder if these coins are real or not.
https://play.google.com/store/apps/details?id=se.brolinembedded.bulliont...
https://www.youtube.com/watch?v=5pZnqp3bl3A
fisch
I'd bet a lot more people on ZH hold fake yellow and white - how many people are prepaired to saw their new coin, bar or whatever in half just to see? close to 0. keep stacking and hoping it's not fake.
Ultra. Sonic.
I mentioned coins for a good reason - most of the sonic devices have a head that will not fit properly over the physical impressions and you'll get false readings. Sure it's ok for large flat cast bars...
Well, we can get some sort of fractional idea of how much of these fake gold coins are getting into the market.
Check out this company below that sells them.
Lets split the difference on their sales and say $25mm per year.
This means just this one company is selling ~$25mm worth of fake gold coins into their markets below. Approx ~25% is domestic sales (that can then also make it abroad) going into the global market.
So this company alone has been adding ~$25mm per year since 2005. Back of the napkin says that this company alone has added $250 MILLION in fake gold/tungsten coins to the market!
Scare yourself. Click the second link as well and step into the Alibaba "tungten showroom" Good lord... Uh oh... This must be MUCH bigger than people realize.
---
One Troy ounce Warking Liberty tungsten gold plated American eagle coin for collectible and art.
We are the first enterprise to introduce Taiwanese technology and we are equipped with advanced equipment and professional skills. Moreover, we are a real manufacturer. We have got a good reputation and praise from a wide range of customers since our establishment in 2005.
Main Markets:
North America
South America
Eastern Europe
Southeast Asia
Africa
Mid East
Eastern Asia
Western Europe
Total Annual Sales Volume: US$10 Million - US$50 Million
Export Percentage: 71% - 80%
http://www.alibaba.com/product-detail/One-Troy-ounce-Warking-Liberty-tun...
http://www.alibaba.com/showroom/gold-plated-tungsten-coin.html
I'm holding a real Gold Eagle in my hand right now. After looking at the gold eagle through a $1 magnifying glass and comparing it to the detailed view of the tungsten knock off provided by the seller, I can already see imperfections on the obverse side of the knock off -- particularly in Lady Liberty's face and her foot. And I'm sure there are others if I spent more time looking.
You act as if these tungsten knockoffs are impervious to detection. You're not even close.
Its better to invest in productive assets but gold is for saving, not investing.
Western bank gold is made of paper - take that Russia
something on 911 u may like but if it is true than 911 is being used again to sink USA
https://www.youtube.com/watch?v=Kg7Qt4bV0B8
Great post. I get the feeling that just like JFK, we'll still be finding shit fifty years from now, and sheeple will still be ignoring the facts. Think Dicky boy can hang on that long?
Great link OM. The plot thickens.
PutinZios are as credible as the USSR's Constitution promising Liberty and freedom for all. Of course w/ Brent oil averaging around $50, much of the russian gov't lays prostate.
Russian bank or Ft. Knox - what's the difference. If and when the SHTF my collection of lead projectiles will be worth far more.
Anti Russia trolls... this was a small crappy bank... FED gold (yes fed controls US gold USA gave all the gold over the oligarchs in exchange for some iou's from JP Morgan and friends) has not been audited since the 50's so it may not even be painted metal... perhaps just emply vaults... and coin melt in Fort Knox... that metal is painted yellow green.
Can you just imagine a nation such as the USA borrowing from a few zio bankers?? Does it make any sense whatsoever? It really is not even possible in theory. If you explain it to lay people they say you are lying... surely it can't be true.
http://www.fgmr.com/us-treasury-responds.html
Funny how the bank's assest are quantified, except for how much gold. $117 million in assets according to the ZH article. Enemies of the Putin State Oligarchy (Nationalist criminal publication) reported that a very senior bank official was suspected of lifting one of Putin's solid gold, diamond encrusted watches (Hence no "gold" reserves quantified) during a recent Kremlin ceremony.
Dumbed down.
I'm actually rather impressed that the gang running Russia might be genuinely policing bank reserves (might).
It could also just be a 'hit,' perhaps internal to the politics of the various factions within the gang running Russia?
Russia is likely to be in an even more aggressive state of preparedness as far as navigating the NWO struggle goes...hell, this could even just be propaganda or a Russian domestic play?
Who knows?
Imagine if the gangs fighting over whats left of america (its still quite a lot -:)..Began enforcing legitimate (sane, rational) reserve requirements?
Beyond word choices and a thin veil of utterly contrived 'value' how different really is gold plated tungsten from 'paper' gold.
It's all a scam folks.
Based on a manufactured and completely illusory 'trust'.
Trust in PAPER & WORDS.
Heads may Roll....................
A Future precedent for the Fed.
There has been fake "gold" held by central banks at least once before this incident; gold plated steel in Ethiopia...
http://news.bbc.co.uk/2/hi/africa/7294665.stm
How can that possibly be ANY different than the 228 owned contracts to one physical ounce on deposit on the COMEX. Paper is no different than anything else sold as gold.
Repothication, Russian style
Socked that there's gambling going on in this establishment .
'Admiralty' bank, huh? That ain't a Russian-sounding name. Where's Chupacabra-322 on this?
which is worse...fake gold or fake money? I think I would take the fake gold.
I too, am Proud to Be Long!
(opens in new window)
3 vault monty
let the games begin
So the Russian banking system has some fraudulent bankers. And the corrupt Russian government removed their licenses to operate. Repeating for the sake of emphasis - The corrupt Russian government removed their licenses to operate. How amny American/British/German banks run fraudulent operations (money laundering, libor fixing, mortgage fraud, etc.)? Now how many of these banks had their licenses to operate removed by the untainted-with-corruption respective governments?
The old adage "beauty is only skin deep" is certainly apropos here....
Back in Iraq in the early days we stopped a big truck loaded with gold, 969 ingots heading to the Iranian border. What happened to that gold?
Some officer retired early....[from experience of having been in the military during a war]...
The Russian economy is doing really well:
https://news.yahoo.com/few-jobs-little-hope-rural-russia-sticks-putin-12...
The villagers refrain? "If only Putin knew."
But Putin knows how to fix politics. Jail or kill the opposition.