Skip to comments.83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal
Posted on 06/30/2020 2:06:43 AM PDT by Candor7
The story is shocking in exposing just how multi-faceted fraud is in China: capitalizing on pre-existing cronyism and connections with China's powerful army, the founder of Kingold was allowed to basically do anything he wanted, no questions asked, including counterfeiting over 83 tons of gold bars to get billions in funds to participate in China's housing bubble, only for a series of unexpected events to unwind the frauds one after another and expose the type of sordid scandal that is at the heart of most Chinese "enterprises" and business ventures.
I have always wondered if you couldn’t relatively easily use some other physical property to non destructively distinguish gold and tungsten. The speed of sound in gold is about 3240 m/s, in tungsten 5200. It should be relatively easy to instrument a test that measures the “ringing” of a bar in response to an acoustic signal, and use it to characterize gold vs. tungsten.
$5 Indian Heads are my favorite as well, I only have a couple of them though.
Dheating is part of the Chinese business culture. They will win a contract with a high quality prototype and slowly begin to decrease the quality of the materials they use.
This is just another cheat.
What is going to happen when enough folks know about this and begin to doubt the value of ANY gold bar. Uh oh...
No, the music never stopped, thank God. I got on the bus in 1967, Golden Gate Park..... The fat man rocked!!! Really missing him, but John has surpassed my expectations logarithmically. ;^)
Try to explain that to many of our stupid school graduates and all you will see is a blank stare. Their debts are as illusionary as their degrees are valuable.
And the Clinton's..! Don't forget the Clinton's..
I have silver. More fungible.
I always wondered, though, was that a reference to running with bars of lead, or with lead in your back?
They are close but not the same.
Is China that desperate?
Mathew Tye aka loawhy86. lived in china many years, speaks fluent Chinese, taught English, ran own businesses there, married Chinese gal who turned out to be Vietnamese after DNA test
Why I changed my opinion on china ... 6:47 mark
And do you know who such nwo folks are?
I think the equation you are looking for is:
Mass = Volume x Density
If you hold the gold in your hand, you just own gold.
There are a lot of FReeper gold bugs that have been touting that worthless crap for years.
“When the SHIF only gold will have value.”...bla bla bla
Your worthless hunk of ?gold? will have trouble finding anybody to test it, much less wanting it.
Gold jewelry is nice but it will never again be trusted to replace cash.
Density = Mass/Volume
Mass = Density x Volume
Volume = Mass/Density
Tungsten and gold have very similar density and are hard to distinguish based on density, which was Archimedes’s non-destructive test, to determine if the king’s crown was pure gold, or only plated. (It was plated, the goldsmith was executed.) Archimedes determined the volume of the crown by measuring the amount of water it displaced when immersed completely in water. Then find an amount of gold that displaced the same volume when immersed. Place the known amount of gold on one side of a balance scale, the crown on the other. The goldsmith’s life hangs in the balance. If they weigh the same amount, the goldsmith is honest. If not, he is found wanting.
The speed of sound depends on both density and Young’s modulus (”elasticity”), the coefficient in Hook’s law for a particular material. The more easily a material is stretched, the slower sound propagates, the denser the material, likewise, the more slowly sound propagates. The speed of sound is the square root of the ratio of Young’s modulus to density. The spectral response of a sample (a guitar string, for instance) depends on density and elasticity of the sample. Just a guess on my part, but I would expect that it should be easy to distinguish a gold bar form tungsten.
BTW, tungsten bars are used to balance (trim) certain aircraft, to account for changes in the center of mass with varying loads. They are bolted near the nose of the A/C.
Would you trade your ammunition or food for gold? Gold bugs certainly hope you will.
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