Sunday, September 23, 2012

Zero Hedge — Gold Counterfeiting Goes Viral: 10 Tungsten-Filled Gold Bars Are Discovered In Manhattan

A few days ago, our report on the discovery of a single 10 oz Tungsten-filled gold bar in Manhattan's jewelry district promptly went viral, as it meant that a tungsten-based, gold-counterfeiting operation, previously isolated solely to the UK and Europe, had crossed the Atlantic. The good news was that the counterfeiting case was isolated to just one 10 oz bar. This morning, the NYPost reports that as had been expected, in the aftermath of the realization that the sanctity of the gold inventory on 47th Street just off Fifth Avenue has been polluted, and dealers promptly check the purity of their gold, at least ten more fake 10-ounce "gold bars" filled with Tungsten has been discovered.
Zero Hedge
Gold Counterfeiting Goes Viral: 10 Tungsten-Filled Gold Bars Are Discovered In Manhattan
Submitted by Tyler Durden

11 comments:

Trixie said...
This comment has been removed by the author.
Ralph Musgrave said...

Uranium is about the same specific gravity as gold. If they put uranium in the bars instead of tungsten, lots of gold-bugs would die of radiation poisoning. Just think of the benefits!

Bob Roddis said...

I will not forget that Ralph Musgrave wants us dead for proposing the abolition of the initiation of force.

And that none of you vicious totalitarian MMTers said that was wrong.

Truly, I will not forget.

andy blatchford said...

@ Ralph think Bob has put you in his little black book.

Reminds me of Dads army "what is your name?" "dont tell him Pike"

andy blatchford said...

found it
http://www.youtube.com/watch?v=0V3SqxUomwk

y said...
This comment has been removed by the author.
y said...

Bob, I hereby denounce Ralph's poor-taste joke.

(p.s. not all "gold bugs" want to abolish "the initiation of force", as you put it).

Bob Roddis said...

I would also point out that the gold counterfeiting scheme was quite easy to discover as opposed to the Fed sending trillions of dollars via keystrokes to its insider buddies. Average people seem to be able to understand the gold scam but, for some reason, do not understand theft via keystroke counterfeiting.

septeus7 said...

Putting natural uranium in probably wouldn't have much effect on the goldbugs as they have the tendency of hoard their rocks in safe boxes away from human contact.

If the uranium was used in a breeder reactor to generate electricity it would actually produce more value than any amount of gold hoarding ever could but folks like Bob will never understand that value of real production can never be tied to an artificial standard of gold production or hoarding.

The person demanding the initiating of force is slavist Bob Robbis by insisting that human aren't free to voluntarily organize public credit to create value for the future but instead must be tied to already existing measures of privately controlled value like gold.

Rothbardian Slavertarianism is violence against any use of creativity and cooperation that is independent from the private "free trade" system aka a monetarily sovereign "nation-state."

Quote from Slavist Bob Roddis: " Average people seem to be able to understand the gold scam but, for some reason, do not understand theft via keystroke counterfeiting."

Because it's not counterfeiting. The problem is as you have admitted you don't understand credit.

Matt Franko said...

Right Septeus,

I believe we can fully understand how a gold standard operates but they simply cannot understand how a state currency operates.

This is a big problem in all of this.

Rsp

Ralph Musgrave said...

Bob Roddis’s response to my “uranium” joke is absolute classic response from an Austrian: Austrians are often too dumb to get a joke.

It reminds me of when Krugman said it would be an idea to have a fake “invasion from Mars” scare because that would result in loads of people being employed to fight off Martians. Austrains thought Krugman meant it seriously.

In similar vein, Keynes said jokingly that it would be an idea to employ people to spend all day digging holes in the ground and filling them up again. That again has resulted in Austrians earnestly explaining to us that the latter hole digging activity is a waste of time.

And finally, for the benefit of Austrians, Trixie's comment (the first one above) is also a joke.