[–] 20364838? 0 points 4 points 4 points (+4|-0) ago
Reuters reports that most of counterfeit bars appear to be made in China? Yep, nothing but cheap crappy counterfeits come from there.
The gold is real, and very high purity, with only the markings faked? Good way to bypass little things like sanctions, trade restrictions and to launder money undetected.
Interesting they are made of real gold because when I first read the headline I thought they were just gold plated fakes.
[–] 20365958? 0 points 3 points 3 points (+3|-0) ago
They drill holes down the length of the bar, and then stuff the holes with tungsten rods. Then melt some gold into the ends to cap it off. This means they don't have to worry about replicating the markings, because they start with a real bar.
So, think not so much a "plating" but more that it's filled like a chocolate eclair.
Tungsten is close enough to gold that this will pass a simple density test.
But it will fail ultrasound inspection.
[–] 20366902? 0 points 3 points 3 points (+3|-0) ago
This article makes me laugh. To quote from the article
"The gold is real, and very high purity, with only the markings faked. Fake-branded bars are a relatively new way to flout global measures to block conflict minerals and prevent money-laundering."
It's gold, it's pure, only it's not from the right "controlled" place. I'm willing to take this off their hands if it's so troubling to them.
Fulford and Wilcock were reporting on gold plated tungsten being all that's held in most official vaults as far back as 2011.
Many countries, including Germany, tried to repatriate their gold from the NY fed around 2013-2014 iirc and were told they would have to wait at least 7 years to take delivery.
There were also many reports that 9/11 was more or less a massive gold heist, as much gold was held under the towers.
https://divinecosmos.com/davids-blog/995-lawsuit-end-tyranny
[–] 20365148? 0 points 14 points 14 points (+14|-0) ago
The gold is probably not pure. But this is irrelevant to anybody reading this who isn’t a billionaire. There’s no reason to buy such large amounts of gold at once. The whole point of this article and the timing of this article has to be to stop people from buying gold so that they can get it all, the little that’s left on the market. There’s no silver for volumes of investment above what regular people do. Rob Kirby said many months ago that he was finding it harder to for fill tons of silver than gold.
[–] 20365928? 0 points 3 points 3 points (+3|-0) ago (edited ago)
you are correct. it's fud. Buy from any major reputable dealer and you will get real gold. Also, stick to gold eagles and avoid anything packed in plastic.
If you buy from random people on ebay, that is not very smart.
If you are bvuying a lot of coins or bars, get yours a "sigma metalytics" analyzer and you can test them yourself.
And if you are a banker who buys pallet loads of 400oz bars, you get yourself an ultrasound tester and you can test those too.
EDIT: apparently I should have read the article a little closer... they are saying the gold is real but the stamps are fake. So this is apparently somebody with a large qty of illegally obtained gold that is laundering it.
[–] [deleted] 0 points 1 point 1 point (+1|-0) ago
[–] 20369632? ago
Excellent response. Excellent advice. There are a lot of vendors who work in small quantities by internet. Apmex, Gold Silver, ITM trading (plastic ok, they like collectibles in case confiscation), Silver Gold Bull. Feel free to respond with more I missed. Also, there is a gold store in Oakland: Oakland Silver and Gold. Very good for new buyers.
[–] 20367430? ago
https://www.foxbusiness.com/features/the-fed-has-6200-tons-of-gold-in-a-manhattan-basement-or-does-it
[–] 20367434? ago
https://www.zerohedge.com/news/2012-09-24/get-your-fake-tungsten-filled-gold-coins-here