Current status of Tungsten filled "gold" bars issue?

RevDrBlimber

What is the current status of the infamous Tungsten filled "gold" bar issue?

There were some articles like this in the alternative press:

"This is potentially chilling news for the gold markets -- word of tungsten filled gold bars coming from the Market Oracle site. As Before It's News has warned, there are many issues with "owning" any gold that is a paper product, as opposed to physical gold and if this story is true, you could see a huge spike in the price of gold in the near future as people scramble to own the real thing. Two issues have come to the forefront, according to Rob Kirby at Kirby Analytics..."
http://beforeitsnews.com/story/0/499/Tungsten_Filled_Gold_Bars_-_GLD_ETF_WARNING.html

I haven't seen that the leading online journalism sites picked up the story, so there is a question of how true and legitimate it is.

tneig

I thought some of this was more of a concern for larger bars, not things like 1oz or less amounts most individuals would own?

I'm not so sure that the stretch between this, and possible huge spikes in gold prices going up or the scramble,
as being nothing other than writer's priviledge and motivation of the hype.

I'd caution to take some of it as informational, and some of it as shock value to enhance the readership of the publications. You don't get your stories published or get paid if you write bland stuff. More recommend what the folks here have to say about it.

derryb

Forbes' take on the matter

RevDrBlimber

Ron Paul has made a lot of assertions on Fort Knox that have yet to be tested. I would like to see clarity on the matter, because when lots of alternative press people spread questions that are unanswered, then it leads to more cynicism and mistrust.

On the Fed being audited, there is a recent thread on www.quatloos.com addressing that, it has been audited many times...

derryb

<< <i>Ron Paul has made a lot of assertions on Fort Knox that have yet to be tested. I would like to see clarity on the matter, because when lots of alternative press people spread questions that are unanswered, then it leads to more cynicism and mistrust.

On the Fed being audited, there is a recent thread on www.quatloos.com addressing that, it has been audited many times... >>


I think Paul would be happy just to have the bars counted.

MsMorrisine

my take: it's been awhile since that report of China finding one.

If true, they would be checking every bar.

I haven't heard a second report.


PS: I hear stories of people getting offered more than the gold value not to take delivery of a gold futures contract. If true, everyone (any hedgie or pri. eq.) would be doing it for easy money.


I lump both stories into the same category: suspect

MsMorrisine

<< <i>

<< <i>Ron Paul has made a lot of assertions on Fort Knox that have yet to be tested. I would like to see clarity on the matter, because when lots of alternative press people spread questions that are unanswered, then it leads to more cynicism and mistrust.

On the Fed being audited, there is a recent thread on www.quatloos.com addressing that, it has been audited many times... >>


I think Paul would be happy just to have the bars counted. >>




more than just counting needs to happen. the ownership papers need to be inspected. Of course, there will always be questions regarding the ownership papers.

RevDrBlimber

Question is whether Ron Paul would pass an audit? Gold is pretty easy to bypass usual auditing by IRS and state tax agencies, but stringent audits, "forensic", and so forth would reveal such things. He has been getting all kinds of precious metal gifts and "pay" from people for many years, but as a federal employee I would think there would be restrictions.