There have been several unsubstantiated claims about this in the past. Here we have irrefutable proof of it occurring. This is major. If a large portion of bank held Gold is fake, the real value of Gold is drastically below market and will skyrocket. This will undermine the value of the dollar and highlight the unhinged fraud being perpetrated by central banks and governments world wide.
Zero Hedge reports:
German TV station ProSieben finds what appears to be some evocative proof of gold counterfeiting, in the form of tungsten gold substitutes coming to the W.C.Heraeus foundry, which is the world’s largest privately-owned precious metals refiner and fabricator, located in Hanau, Germany. The foundry has isolated at least one 500-gram tungsten bar due for melting, originating from a (so far) unnamed bank, which as the head of the foundry stated made the unpleasant discovery that “not all the glitters is gold.”
For the uninformed, Tungsten has the exact same atomic density as Gold. Such a Tungsten filled Gold bar weights the exact same amount as a Gold bar of an equal size. The only possible way to detect fraudulent Gold bars such as these is to actually drill into them and take a core sample.
Previous accusations include
The gold conspiracy world is a buzz with recent articles from Rob Kirby about tungsten bars that were plated with gold. According to Kirby’s sources 1.3M-1.5M these 400oz bars currently reside in Fort Knox as well as have been sold into the global gold markets over the past 15-20 years. The article can be found here: http://news.goldseek.com/GoldSeek/1258049769.php
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…
] - irregularities in the publication of the gold ETF – GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 pages to under 200 pages and then back up to 800 or so pages.
2] - reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong.
here’s what the Chinese allegedly uncovered:
Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.