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83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal
The Donald Win ^ | 29 June 2020 | dirtysanchez69

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.


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs
KEYWORDS: china; fake; finance; fraud; gold; goldbars; kingold; sabotage
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To: LukeL

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.


41 posted on 06/30/2020 4:33:11 AM PDT by Lonesome in Massachussets ("Women's intuition" gave us the Salem witch trials and Kavanaugh hearings. Change my mind.)
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To: Monterrosa-24

$5 Indian Heads are my favorite as well, I only have a couple of them though.


42 posted on 06/30/2020 4:37:50 AM PDT by Grey182 (A Catholic Bishop Emeritus is still a Bishop, a Pope Emeritus... 209.157.64.200)
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To: Candor7

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.


43 posted on 06/30/2020 4:39:30 AM PDT by Blood of Tyrants (Where do you find the word "except" in the 2nd Amendment?)
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To: Candor7

What is going to happen when enough folks know about this and begin to doubt the value of ANY gold bar. Uh oh...


44 posted on 06/30/2020 4:47:54 AM PDT by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
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To: af_vet_1981

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. ;^)


45 posted on 06/30/2020 4:55:02 AM PDT by BullDog108 (A Smith & Wesson beats four aces!)
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To: kearnyirish2

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.


46 posted on 06/30/2020 4:56:40 AM PDT by Mouton (The media is the enemy of the people.)
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To: Candor7
"Somehow I suspect Hunter Biden is involved in this.

And the Clinton's..! Don't forget the Clinton's..

47 posted on 06/30/2020 5:02:20 AM PDT by unread (A REPUBLIC..! if you can keep it....)
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To: Monterrosa-24

I have silver. More fungible.


48 posted on 06/30/2020 5:02:43 AM PDT by sauropod (Quarantine is when you restrict sick people, tyranny is when you restrict healthy people.)
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To: BullDog108

LOL!

I always wondered, though, was that a reference to running with bars of lead, or with lead in your back?


49 posted on 06/30/2020 5:04:38 AM PDT by Fresh Wind (China kills over 500,000 and the sheeple sleep. Cops kill one person, and cities burn.)
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To: Lonesome in Massachussets

Mass=Volume/Density?


50 posted on 06/30/2020 5:04:40 AM PDT by DrGunsforHands
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To: DrGunsforHands

They are close but not the same.


51 posted on 06/30/2020 5:05:28 AM PDT by DrGunsforHands
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To: sauropod

Why?


52 posted on 06/30/2020 5:12:02 AM PDT by ASA Vet (Make American Intelligence Great Again.)
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To: Candor7

Is China that desperate?


53 posted on 06/30/2020 5:17:18 AM PDT by Biggirl ("One Lord, one faith, one baptism" - Ephesians 4:5)
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To: mikey_hates_everything

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
https://youtu.be/ed4ryYokLzU


54 posted on 06/30/2020 5:18:48 AM PDT by PIF (They came for me and mine ... now its your turn)
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To: SkyPilot

And do you know who such nwo folks are?


55 posted on 06/30/2020 5:21:34 AM PDT by Biggirl ("One Lord, one faith, one baptism" - Ephesians 4:5)
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To: DrGunsforHands

I think the equation you are looking for is:

Mass = Volume x Density


56 posted on 06/30/2020 5:22:12 AM PDT by CurlyDave
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To: Highest Authority

If you hold the gold in your hand, you just own gold.


57 posted on 06/30/2020 5:24:02 AM PDT by ASA Vet (Make American Intelligence Great Again.)
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To: Candor7

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.


58 posted on 06/30/2020 5:28:07 AM PDT by Beagle8U (Slo-Joe Biden... puts the DEM in Dementia.)
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To: DrGunsforHands

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.


59 posted on 06/30/2020 5:35:22 AM PDT by Lonesome in Massachussets ("Women's intuition" gave us the Salem witch trials and Kavanaugh hearings. Change my mind.)
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To: Beagle8U

Would you trade your ammunition or food for gold? Gold bugs certainly hope you will.


60 posted on 06/30/2020 5:38:13 AM PDT by ASA Vet (Make American Intelligence Great Again.)
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