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 Replies: 13 / Views: 1,798 |
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Rest in Peace
United States
9104 Posts |
You have gold. Your assigned serial numbers and weights. All you want to do is move it to your personal bank. So where is it? There are rumors that the gold in Fort Knox isn't. Other quantities are supposed to be in certain places. Are they? How close are we to a demand for a world-wide inventory of gold supplies? More importantly, if it isn't where it belongs, where the heck is it? And how does this affect the value of your PM investment in physical and paper PM? http://www.kingworldnews.com/kingwo...ss_Bank.html |
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Pillar of the Community
United States
1450 Posts |
I know EXACTLY where mine is. I don't trust any bank,company,group or person with my PM's. The world is going to become an ugly place as folks scramble to cover their tails(and probably their trails)and they are not going to be using my gold and silver.
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Pillar of the Community
Australia
2830 Posts |
years ago, the Perth Mint offered "gold accounts", perhaps they still do - where your cash deposits were translated into grams of gold, at the current price, and added to your balance. when you withdraw, you get the daily price on that day. If I recall correctly, you could withdraw cash, or actual gold. There was no interest on your money, and I don't recall how fees and charges were calculated. As the price of gold goes up, the account holder wins; and conversely in the other circumstance. The Mint always had plenty of gold on hand: the nearby goldfields were producing plenty, and the Mint was the major buyer. These accounts were popular, so lots of people put their money in. Then people began to wonder if gold-on-hand matched the total of all accounts ... I don't recall the details that emerged, butv as I recall, actual gold was a lot less than subscribers' funds - which made the whole scheme a lot less attractive. I've heard the rumours about Fort Knox. I don't have much gold, but it's all coins, locked away downstairs, where I can check them whenever I want. |
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Pillar of the Community
United States
3640 Posts |
What's left in the fort is sub bar bullion.
On that tour that they did allow and just of one room there
a few exerts were present and noticed the color of the bars
were off some. There was a substantial withdrawal from the fort not too long ago. Hush, hush. But they could not hide the trucks that came and went. The U.S. owes quite a sum of interest due payments to China. Not too hard to figure what they used to pay that with. Just do some quick history homework and you can find out who to blame. Birth of the Federal Reserve along with "Off" the gold standard. Then from there it just ballooned. One cannot stop an out of control
freight train. I know, I used to work at a railroad terminal.
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Rest in Peace
 United States
9104 Posts |
Quote:
What's left in the fort is sub bar bullion. I try to avoid commenting on typos, unless they're humorous or confusing. I suspect you meant sub par, meaning not up to trading standards. |
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Pillar of the Community
United States
2269 Posts |
Since I am soon moving into an apartment, I have been considering storing my gold in a safe deposit box. With stories like this, I am seriously reconsidering.
I have heard stories about Fort Knox and the "lack of gold," it contains. One story is about the bars actually being gold plated with another metal making up the core. I don't remember the metals name, but the weight is equal to that of gold.
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Pillar of the Community
United States
6392 Posts |
That "other metal" would be tungsten, which has about the same density as gold (19.3 grams/cubic centimeter) but is much cheaper. It has an extremely high melting point and would be tough to fabricate into gold-plated ingots but since it would take a government conspiracy anyway to pull off the switch I suppose it's possible.
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Pillar of the Community
United States
2269 Posts |
Thank you Jaobler, I couldn't think of the name of the metal. I actually heard about it last month while watching a History Channel special on Fort Knox. It was partial history, partial conspiracy.
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Pillar of the Community
United States
2120 Posts |
Quote:
I know EXACTLY where mine is   |
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Pillar of the Community
Australia
4411 Posts |
I dont own any gold of my own but if/when I do its would be/is going to be gold I can old in my hand, not a piece of paper. The only person you can really trust at the end of the day is yourself.. and maybe your wife/husband.
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Pillar of the Community
United States
808 Posts |
Technology has caught up with the gold plated tungsten fraud so the tools now exist to detect the salted bars without resorting to destructive assay. This is good and bad: good in that reputable institutions have a simple (if time consuming) means of validating their gold holdings. However, bad in that those institutions who might have been complicit in, or perhaps willfully ignorant of, any substitutions may now be actively trying to hide their salted bars among a rapidly shrinking supply of good bullion.
Eventually these institutions will be found out. Regardless of this fact, though, the scale of the potential fraud these institutions seem willing to perpetrate is mind boggling.
Physical possession is the only reliable option now.
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Pillar of the Community
United States
4008 Posts |
Quote:
Since I am soon moving into an apartment, I have been considering storing my gold in a safe deposit box. With stories like this, I am seriously reconsidering. I suspect that for every person who has trouble with valuable items in a SDB, millions of other people do not. I would suggest using a credit union, though, and not a bank. The vast majority of financial shenanigans that occur out there seem to involve banks while CUs tend to be pretty reliable and trouble free. It's likely that this is because CUs recognize their members as owners and not as cash cows to be milked as often as possible... but maybe that's just me.  Tungsten contaminated gold can be detected via a small instrument that sends a sound wave into the metal and measures the speed of the reflected sound. IIRC, the speed of sound in Tungsten is quite a bit faster than it is in gold. |
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Pillar of the Community
United States
3640 Posts |
BF
Yup, just noticed the typo. Actually either works :)
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Rest in Peace
United States
9104 Posts |
My fellow readers may want to read the email I posted from APMEX in this same forum. |
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Replies: 13 / Views: 1,798 |
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Posted 05/22/2012 07:56 am
