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Post by xtra on Nov 14, 2009 13:03:53 GMT -6
If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it. news.goldseek.com/GoldSeek/1258049769.php
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Post by waltc on Nov 14, 2009 13:30:25 GMT -6
Yep Tungsten is a old standby of gold counter fitters and now with $1k + gold prices it makes more sense than ever to make bogus gold coins.
And that's not the only gold scam, the other one is where you buy gold sight unseen and it is supposedly kept at a secure overseas location. The fact is you have no idea if your gold is there or not or if they are just gold plated tungsten knockoffs or if you can get at the gold if there is a serious international crisis(like Islamic nukes going off in D.C. or Europe).
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Post by unlawflcombatnt on Nov 14, 2009 18:38:11 GMT -6
The article referenced provides still more reason why we should abolish the Fed.
There's no reason whatsoever why the Fed shouldn't be disclosing everything it does, including every transaction and holding it has.
Their refusal to do so is not based on a national security concern, which is the only legitimate reason for denying a Freedom of Information Request.
If the financial markets "can't handle the truth" without collapsing, then let 'em collapse.
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