One of the most colossal monetary/financial frauds may have been perpetrated in the global gold markets. If the information in the first link below is true, it will shake the current globalist monetary/financial system (called Babylon the Great in Revelation 17-18) to its foundations. Indeed, it could even crumble its foundations. At some point in the latter days, we already know from Bible prophecy that it will collapse, but the Bible doesn’t tell us when it will occur or what the trigger will be. This scandal is so massive (again, if it is true) that it could be just such a trigger.
The first link, by analyst Rob Kirby, reports that many gold bars stored in vaults around the world are not really solid-gold bars at all! He alleges that they are extremely-clever counterfeits: mere tungsten bars coated with a thin layer of real gold to make them look genuine. This fraud can be expertly perpetrated because tungsten and gold have the “exact same density” so a phony tungsten bar can pass a weight test often used to determine a bar’s authenticity. There are more sophisticated tests available, but apparently these more expensive tests will not typically be done if the weight test is passed.
Mr. Kirby reports that these phony “tungsten” gold bars were first discovered in Hong Kong, and that the amount of phony gold bars may reach as high as 60 metric tons of supposed gold! That is an immense amount. The first link reports that during the Clinton Administration, “between 1.3 and 1.5 billion 400 oz. tungsten blanks were allegedly manufactured by a very high-end sophisticated refiner in the USA….Subsequently, 640,000 of these tungsten blanks received their gold plating and were shipped to Ft. Knox and remain there to this day.” If this allegation is true, it will make Bernie Madoff’s ponzi scheme scandal look like a grocery store heist. The rest of these phony gold bars were reportedly sold to other gold buyers around the world. The first link also raises the very worrisome possibility that the exchange-traded Gold ETF fund also does not have real gold in its inventories backing its promises to its investors. If this should prove to be true, the people who thought they owned real gold by buying shares of this ETF don’t own any gold at all. Giving credence to this report of phony gold bars is the evidence I cited in a blog months ago that the Ethiopian Central Bank discovered that their vaults housed phony gold bars.
This is an extremely serious allegation. The second link below is a critique of the first link which I have included so readers of this blog can have a balanced view of this alleged scandal. The second link states where it thinks that some of the information doesn’t sound right, but it also reports considerable background information that it feels supports a viewpoint that this scandal is a real one. The author of the second link states that “I am still a little skeptical of the details, but the story sure seems to fit.” He quite reasonably assumes that the “titans” who own most of the world’s gold (central banks, sovereign wealth funds, ETFs, banks, etc.) will be checking all their gold bars very closely to see if they have any of these “tungsten” fakes. If they do, he expects them to “go after the perps” (which reportedly were highly-placed American officials). If China finds they have been duped into owning phony gold bars, expect their reaction to be very vengeful indeed.
You may have noticed that the world’s gold and silver prices have been rising steadily lately on world exchanges. If it is determined that many “gold bars” around the world are actually “tungsten” bars, there will be “hell to pay” on the global markets and in global geopolitics. This is a very serious issue, and you can be sure that the barons of “Babylon the Great” will do all they can to make this story go away! In light of this report, if the U.S. Congress has any sense of responsibility at all, it will require an immediate assaying of all gold bars in Ft. Knox by outside experts to determine if the USA’s gold supply is really a pile of tungsten coated by a gold veneer. A recent blog reported that a key Congressional Committee voted to audit the U.S. Federal Reserve Board. It should also include an audit of all gold bars held by the Fed and all gold bars held by any bank that has ever received TARP money or Congressional bailout monies.
I’ve decided to include the third link below as it covers this story of tungsten-filled “gold” bars, and refers to the story in the first link. The author of the third link is a regular contributor to the articles and columns at financialsense.com, which I recommend to readers of this blog. That website contains a wide variety of columns by both establishment and non-establishment analysts on a wide variety of financial/economic/monetary subjects. If the analysis in the third link is on target, you can see why the world could be fast approaching another “heart attack” in the global finance markets.
If this story of a world-class scam in the global gold markets (whereby highly-placed officials duped the world into thinking that there was far more gold than there really is) proves to be true, we could see some powerful insiders receive subpoenas, trials and prison sentences (move over Bernie Madoff!). However, if the report of this gold scam is true, they may not live to see the end of what is called “due process” in the American judicial system. Other furious nations defrauded in this possible scandal might send their intelligence agents to arrange some very “bad accidents” or unexpected “suicides” for the ones responsible for this gold scandal. Wars have been fought between nations over far less provocation than this. This could get ugly, but, as usual, the general public won’t be told.