fake gold 3_0The advantage of gold as currency has always been that it was very difficult to counterfeit. From the time when Archimedes screamed “Eureka!” in his bathtub because he had found a way to test the gold content of his king’s crown, it was known that gold was much denser than any other element known to man.
So, a good scale was all what was needed to discover if something was real gold, or it just glittered like gold.
But today, things have changed: we have something that ancient gold counterfeiters couldn’t even dream of: tungsten with a density almost exactly the same as that of gold, and that makes density measurements nearly useless.
Since gold costs almost a thousand times more than tungsten (ca. $ 40,000 per kg against about $ 50 per kg) you can understand that there is a lot of incentive for mankind’s inherent nature to play a role here: with a chance to cheat, someone will.

Central banks and governments have motive, means and opportunity to suppress the price of gold. They want to support their product (dollars, euros, etc.) and to defeat the competition – gold.  If you were a central banker or treasury official who was inflating his currency and consequently reducing its purchasing power, wouldn’t you want to suppress the price of gold to delay recognition of your involvement in the devaluation process?

Does anyone really think that the gold at Fort Knox is unencumbered, unleased, and actually physically there?

eagle4Last year news that tungsten filled 10 oz PAMP gold bars surfaced on the market in NYC went viral as long rumored tungsten filled gold bars were finally confirmed to exist.
At the time, we warned readers of rumors of fake silver coins and bars likely filled with molybdenum. 

We now have an official confirmed report of tungsten molybdenum filled American Silver Eagles.

20122012 is almost in the books.  That means its time for another review of the year’s top stories on SilverDoctors.

The most important and most popular SD Stories of 2012:

In what is no doubt a propaganda piece designed to attempt to slow the gold repatriation and audit request freight train, the Bank of England has taken the unprecedented step to allow University of Nottingham chemistry Professor Martyn Poliakoff to take a video tour of the BOE’s gold vault.
Poliakoff excitedly proclaims that he has never seen this much tungsten gold (or this much of ANY element he clarifies), and states that his gut tells him that one’s first reaction is that it can’t possibly be real.
Poliakoff lets out a little too much truth in his interview (perhaps the BOE should have commissioned someone from the BBC to conduct the interview rather than a Chemistry professor?), stating that the reason the BOE and the central banks keep so much of their reserves in gold is because the value of gold is very stable compared to the value of currencies.
He also explains how the futures market really works:  Each bar has a serial number, and when people buy and trade the gold, they don’t actually take the bar home, the number is just transferred from the seller’s account to the buyer’s account. (What Poliakoff doesn’t mention is whether each bar has been rehypothecated to numerous owners as Ned Naylor-Leyland discovered was the case with Bob Pisani’s GLD bar last spring)

Poliakoff’s MUST SEE full video tour of the Bank of England’s gold vault is below:

An Austrian banking source has reportedly claimed that Deutsche Bank ‘fulfilled’ one gold repatriation in recent years with the help of Tungsten and further claims that the tungsten salted gold bars have turned up in Asia.

In 2009, Rob Kirby first uncovered detailed information regarding a massive plot to replace 400 oz good delivery gold bars with highly sophisticated tungsten filled fakes- and even provided evidence that the bars had been swapped with the gold held at Fort Knox.

Widely scoffed at by the financial media in 2009, Kirby appears to have released a Pulitzer worthy story nearly half a decade ahead of its time, as if the Austrian source’s claims are true and Deutsche Bank has in fact fulfilled a recent gold repatriation request with gold plated tungsten, the ramifications are that not only is every single claim made by GATA regarding gold and silver manipulation are 100% accurate, but that real, physical metal is now in desperately short supply and the jig is nearly up for the bullion bank cartel.