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 Replies: 52 / Views: 6,553 |
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Pillar of the Community
United States
1454 Posts |
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Of course, for any of this to be meaningful, we would have to have a justice department that would be interested in obtaining justice. That seems rather scarce at the moment. Perhaps next year? Ed, As you know, the corruption goes all the way to the top, crosses all party lines, and no one in government has the will or perhaps even the power to do anything about it. The people with the real power are more untouchable and insulated than the core of planet Earth. |
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Pillar of the Community
United States
2168 Posts |
It is such a shame what is going on in our country. The Mafia from my childhood seems mild! One at least knew their methods and ideas
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Valued Member
United States
50 Posts |
Anngel2004 I read the thread about the birth year set w/ silver half. I was mad I didn't buy one like I thought about. Wish they had one last year as my daughter is now 4 months old!
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Pillar of the Community
United States
2168 Posts |
Yes I was going to get 2 for a relative expecting twins but would have wanted silver not clad.
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Valued Member
United States
385 Posts |
Junk silver for the win then? lol
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Bedrock of the Community
Australia
21788 Posts |
My scan of Google reveals that about 5,700 gold bars were faked, each of them weighing 400 ounces. some of them were found in the bank of England's vaults, and a greater amount in Fort Knox.
You would expect many conspriacy theories exist on this subject, some of them no doubt set up to obscure the truth.
One of these theories says that the bars actually originated from Fort Knox, and that some gold was sold off to be replaced by the fake bars.
The actual truth may never come out.
The value of 5,700 gold bars, each weighing 400 ounces is around 31/2 to 4 billion dollars. That is minuscule, relative to the U.S. national debt.
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Pillar of the Community
United States
808 Posts |
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The value of 5,700 gold bars, each weighing 400 ounces is around 31/2 to 4 billion dollars. That is minuscule, relative to the U.S. national debt. Yes, but the psychological impact is significant. What I'm not clear on is whether or not these fake gold bars were discovered before or after the creation of the "good delivery" system which (in theory) safeguards the current global wholesale bullion trade. I'm guessing there has to be countless tons of gold bars still out in the world (much of which has sat for years in Central Bank vaults) that have not been re-assayed and certified as "good delivery." Can you imagine a central bank chairman making that gut check? "Do I re-certify the contents of my vault? And do I really REALLY want to know if the gold I claim to have is really there?" This is the kind of thing that must give bankers many sleepless nights. |
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Pillar of the Community
United States
3670 Posts |
Another reason I like PCGS or NGC or even ANACS. Real old coins, often toned in very unique patterns.... Could a great con make a fake of the above example in one of the three cases above, probably. But, would it be FEASIBLE or PRACTICAL for the thief to waste their time an stolen money on, again probably not.... I saw a CSI where a kid who was not getting enough attention from his rich father, stole all his high dollar art pieces an replaced them with fakes an artist had replicated to such exactness, they could only tell they were fake via using ultra violet light perhaps, or something along those lines.... My point being, heck even if a crook did take the time an money to figure out a way to fake the items I have been adding lately, the odds of me or anyone else ever realizing they are fake is slim to zero, lol. Short of cracking set item open an testing it there after, an who would do that, not I on a whim.... I took that Worlds fair coin to work today to make sure it was real silver, as it has no stamping of any kind indicating it is .999 or silver for that matter. But it past the magnet test with flying colors and I rubbed it on the rock via the rim, and it tested real blue with the acid we use to test 18K or sterling, and it weighed spot on.... Here is the cool part, I searched high an low looking for another and found one just like it on ebay, small picture no toning or case, but listed at 15 bucks, 5 more shipping an best offer as a METAL coin, lol..... I have been looking high an low for months for a pure piece of 1 oz. silver at a ridiculous low chance, an there it is as I bet one could offer him 10 bucks an he would take it, rof  .... Edited by Silverhawk74
03/30/2012 01:49 am
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Pillar of the Community
United States
4008 Posts |
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As you know, the corruption goes all the way to the top, crosses all party lines, and no one in government has the will or perhaps even the power to do anything about it. The people with the real power are more untouchable and insulated than the core of planet Earth. Indeed it does but if there is to be any hope of change in the priorities of the justice department we will need a new AG and a new President. Without replacing those two, there is zero chance of getting any justice for MFG's former clients. I'm not saying that a new team WILL provide justice in this case, only that they might have more interest in doing so. Clearly, the current team in office has no interest in this case and are hoping that it will all "go away". :-/ |
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Pillar of the Community
United States
808 Posts |
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Clearly, the current team in office has no interest in this case and are hoping that it will all "go away". :-/ Between our sitting POTUS and the most electable challengers from across the aisle, I don't think any of them are going to be willing to expend the necessary political capital to go all "Eliot Ness" on the out of control financial services sector. Absolutely it needs to happen, no question. However, for that brave President who finally takes on the banks, his or her administration will be totally defined by this one task. It would also probably guarantee a one term presidency and a legacy that would be more loathed than cheered by the average citizen. There isn't a politician alive who would take this kind of risk, at least not one who's likely to be elected. Just another reason I'm bullish on PMs. Edited by coinwatch
03/30/2012 8:20 pm
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Pillar of the Community
United States
1454 Posts |
That's what I think, CW. We all know who will be running against the incumbent. And there isn't more than a handful of split hairs of difference between them, or the former governor of the liberal mecca of Massachusetts would have never been elected there. Threads probably getting too political so I do apologize for steering it farther in that direction. So... I really hope none of us have any fake silver in our collection. When we had that silver run up last year, I can only assume silver bullion became fair game for idle Chinese fingers. And as bad as that would be, I'd hate to think that one or more of my valuable silver proofs is counterfeit. But even if it's not, we could see the market slowly flooded with forgeries, devaluing our collections and scaring away any potential buyers due to the fear of getting scammed.
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Pillar of the Community
United States
2168 Posts |
I know what you're saying. Scary to think proofs could be not what they are supposed to be. I take them at face or their word and believe. Now a shadow of doubt is cast.
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Pillar of the Community
United States
1454 Posts |
Quote:
I know what you're saying. Scary to think proofs could be not what they are supposed to be. I take them at face or their word and believe. Now a shadow of doubt is cast. Totally agree. I never really gave any of my high end coins bought on ebay from people with good feedback too much thought about the possibility of inheriting a forgery. I believe that was naive on my part. But from now on, I'll definitely place a much higher premium on proofs that come with the box and COA than I ever did before. |
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Pillar of the Community
United States
2168 Posts |
But the sad thing is that the Mint issues come with the box and COA. Just so happened this error with the Birth 2012 was in the favor of the purchaser. What if the other way around. Some purchase a number of proof silver from the mint in quantity and may not check each and every box if labeled correctly.
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Pillar of the Community
United States
4008 Posts |
CW... I agree with your reasoning but still hope that enough congress critters will come along who are not gutless wonders and who will make a real effort to straighten out the current financial mess in this country. If they do not, then the only other two choices come down to: 1) the whole system goes down the drain in a spectacular collapse, doing GREAT harm to millions of our fellow citizens; or 2) a patriotic general says enough is enough and forces us back onto the path designed by our Founding Fathers. Neither of these would be my 1st choice.  As to obtaining justice for MFG clients, there is more hope there because it would provide an excellent platform for grilling a lot of the people who surrounded that situation. Much chest thumping and strutting before the TV cameras could be arranged for such a show. And who knows... some good might even come out of it. |
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Posted 03/29/2012 10:36 pm
