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Long-winded but thorough look at the Tungsten rumor

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
Long and short: It's almost certainly nonsense.

Robert Bradshaw/market oracle on tungsten rumor
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • CaptHenwayCaptHenway Posts: 32,333 ✭✭✭✭✭

    The paranoids who keep pushing the "tonnes of tungsten" myth are ridiculous.

    The story cited in the link is excellent.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Question: who would benefit the most from putting out the Tungsten bar rumors?

    Answer: Those entities who would rather see gold buyers stick to paper transactions rather than physical delivery.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    For most buyers of gold this tungsten issue is a red herring. The average person buying gold is picking up a small gold coin, a 1 oz bar, that type of thing. Like with anything you always have some risk, but it's not a "drill and fill" tungsten risk. Very few people are even in a position to buy the kind of huge gold bars that are most susceptible to being drilled and filled.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • AboutAgAboutAg Posts: 201 ✭✭


    << <i>Long and short: It's almost certainly nonsense.

    Robert Bradshaw/market oracle on tungsten rumor >>



    It is almost certainly nonsense. A page on counterfeit coins/bars we're working on has a very brief summary covering why it is absurd.

    Funnier still is that Rob Kirby, that started this tungsten gold story, apparently just stated that the U.S. Government just sold 75% of its tungsten-filled-gold for $190 billion. image
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Great website AboutAg, thanks for posting it.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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