Breaking news, billions of $ of fake gold discovered


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It's one thing to counterfeit a twenty or hundred dollar bill. The amount of financial damage is usually limited to a specific region and only affects dozens of people and thousands of dollars. Secret Service agents quickly notify the banks on how to recognize these phony bills and retail outlets usually have procedures in place (such as special pens to test the paper) to stop their proliferation.

But what about gold? This is the most sacred of all commodities because it is thought to be the most trusted, reliable and valuable means of saving wealth.

A recent discovery -- in October of 2009 -- has been suppressed by the main stream media but has been circulating among the "big money" brokers and financial kingpins and is just now being revealed to the public. It involves the gold in Fort Knox -- the US Treasury gold -- that is the equity of our national wealth. In short, millions (with an "m") of gold bars are fake!

Who did this? Apparently the US government.

http://www.the-boondocks.org/forum/index.p...mp;start=0&

Here's a link to who they're doing it to the smaller bars as well.

http://www.popsci.com/diy/article/2008-03/...-fake-gold-bars

If the Chinese didn't have a reason to call all their paper in (on the loans to the US), they sure as heck do now.

Jen

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Hi Jen,

Not that I wouldn't put this past the robber barons, but I found much of the info as posted in the initial "boondocks" thread noted as BACKROUND to be 'copy and paste' from the popular science article without proper credit to same.

I guess the sources for the "boondocks" thread were multiple publications combined together to make one interesting read due to the lack of reporting or for that matter investigation.

I can only speculate as to the timing of Obamas trip to China.....but, the thought of "keeping their lips sealed" came to mind if this was true, because a number of things could occur. 1) Chinas "real" gold holdings/reserves would be immediatly be depleted/devalued and 2) The strangle-hold they currently have on the US dollar and our debt would only serve to weaken this condition in the favor of a devalued dollar and 3) gold prices would sky-rocket to the moon. If that should happen, the gig is up for the Fed, (unless we held more gold in unknown places) our economy and theirs as well, because they would loose in exports of traded goods to our country in dollars. Remember if a portion of the gold in their vaults is fake and came from US sources, would not their efforts to do further quality testing, finding negitive results, serve to bring down and destroy the entire "world baking system", central banks and the IMF!

I look at this as a cat-and-mouse game of who can blackmail who better. :spank:

On a side note, was money transfered on the initial sale of the fake bars, I don't think so! Anyone buying that kind of "change" would be a fool to pay upfront and take delivery without conformation to begin with as to the quality of the purchase. This is cat-and-mouse, which may even include the raid in NY and the missing official.

Someone is trying to cover their a$$ets.

Gary

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Jen I would think they tend to test the bars not just by weight/ specific gravity or conductivity alone. ;) AzNuggetBob

By "they" do you mean the people at the fed that do everything in their power to keep us from auditing them?

:)

I only posted it as it was connected to gold, I have a personal opinion on the matter but won't bog down this board with it or take the conversation that direction, just wanted to share.

Cheers folks

Jen

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As can be seen by the article Bob posted, the government has sold 500 million ounces since 1941, leaving only 149 million in there. The gold mines of Nevada probably produce that much in a year. The remaining amount is of no consequence when compared to the national debt. Russia has also sold off most of their reserves. Two of the biggest governments in the world have put all their faith in paper money. The Chinese see things a little differently apparently. Most of us probably won't live long enough to see the repurcussions of our not holding vast amounts of HARD currency , but I would feel more comfortable if Fort Knox had enough gold to cover the national debt. Fort knox would have to be much larger to accomodate that much gold.----Bob

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Bob - The mines of Nevada produce only around 7 million ounces per year - production in Nevada and all over the world peaked around 2004. Thy didnt do much exploration from 1990 to about 2006, so the big boys have only a few new mines to bring on line, not enough to make up for the ore mined the previous year. Production continues to drop and will for many years into the future.

Also none of the Nevada gold goes to the US treasury - in the old days you had to sell to the government, but now its all sold to India, China, etc. Gold only goes out of the US treasury. It hasnt gone in since the early 1970s.

While gold will surely fluctuate up and down in price, when the government just "makes up" trillions of funny money dollars for circulation, the value of the existing dollars must fall. This works out OK for the government, since they get to pay back their debts with currency worth 1/10 of the dollars they originally borrowed (or maybe 1/100th). Such a deal for them!

I think those who are alive 10 years from now will see serious repercussions of ruining the dollar like its the peso of some bannana republic from the 1960s.

Gold will be $10,000 per ounce, but minimum wage will be $100,000 per year, and a gallon of gas will cost $80. :wacko:

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Chris. I was way off on my guess about Nevadas gold production , but the point I was trying to make is that there isn't nearly enough gold in there to help our financial situation anyway and our government surely won't be trying to build reserves at the current price either. It will take a total catastrophic crash of the worldwide paper money market to force a return to any kind of precious metal standard.----Bob

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