Monday, November 30, 2009

Oh, my, if you own any big gold bars

you're not going to like this.
I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:

1] - 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.

I think this will constitute a "Oh BLEEP!!" matter for a whole lot of people. Especially since
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.

Thanks to Sondra for finding this, first I'd heard of it.


wolfwalker said...

The gold market is headed for trouble. The price is going through the roof, so is demand, and the available supplies are grossly inadequate.

Windy Wilson said...

"Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day."
This can only have been done for fraudulent purposes. There is no other reason for gold-plated tungsten bars that I can think of.
Also, is anyone else suspicious about all those Morgan dollars that keep appearing? "The bulk of these beautiful dollars were melted down to finance WW1, but a few survived and you can buy them for $100 each!" The same with all those gold European coins that supposedly were melted down in WW2, instead of being spent in handy individual sizes.
Another scandal in the making? How would one tell when a brilliant-uncirculated coin was struck?
Just asking, is all.