[The Great RJ]

Does anyone think there is still gold in Ft. Knox?

[Squawk 8888]

To all- please ping me to Canadian topics.

Canada Ping!

[PGalt]

Fungible proxy ALERT!

http://www.youtube.com/watch?v=7dFVFJ0iRRA

[GeronL]

did someone walk out with it?

[PGalt]

Gold? Watch, listen, learn...

http://www.youtube.com/watch?v=jCs1FNCuzF4

[SMARTY]

“More than $3 million in government gold was unwittingly sold off at a fraction of its value as refinery slag, while $8 million more was miscounted and never left the Royal Canadian Mint, the Crown corporation revealed...”

Well, it’s nice to know that idiots who attain positions of responsibility and authority are NOT all in the U.S.

[KarlInOhio]

I have been told by industry insiders that the RCM does not assay gold bars when they take them in for storage. When the RCM tried to melt these bars, they were revealed to be tungsten – which melts at a much higher temperature than gold. This created a very awkward situation for the RCM – having to tell one of their customers that they had stored salted [tungsten] bricks of gold

Although the density of tungsten is almost the same as gold, its electrical resistivity (52.8 nΩ·m for tungsten and 22.14 nΩ·m for gold) and speed of sound (5220 m/sfor tungsten and 3240 m/s for gold) are considerably different. Both are relatively easy to test non-destructively (i.e. you don't have to drill, cut or melt the "gold" to test it). If any gold storage vault doesn't know whether they have gold or tungsten bars, it is because they don't want to know which they have.

[Cicero]

Problem solved. Move on.

;-}

[chopperman]

ISO9001 is not the guarantee of a quality operation. All it does is say that you document what you do and you do what you documented.

All you have to do is to put into your documentation that you don’t document accurately.