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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: StormEye

They are hard to distinguish, not impossible. The density of a bar may depend on purity. The difference in the speed of sound is about 60%, not 0.3%.


81 posted on 06/30/2020 7:26:38 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: poconopundit

With these billions in fake gold being exposed to the light of day. This means the supply of real actual physical gold has shrunk. My guess is 1-2%. Thus the gold price today is up at 1,798.60. Which I have not seen so high since 2011 or so when Ubungu was President..

$1929 in August 2011 was the last significant gold high
https://www.bing.com/search?q=gold+price&PC=U316&FORM=CHROMN


82 posted on 06/30/2020 8:10:05 AM PDT by dennisw
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To: SkyPilot

When serving ‘mammon’ there is no safe haven for the financial system.

The only true Safe Haven is under the wings of Jesus The Christ. Only He Saves, Only He holds the keys to death & hades, and He is your only hope.

Preaching to the choir I know. Almost everybody else laughs at this fact though.


83 posted on 06/30/2020 8:13:25 AM PDT by Roman_War_Criminal (Like Enoch, Noah, & Lot, the True Church will soon be removed & then destruction comes forth.)
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To: Beagle8U

Lol!


84 posted on 06/30/2020 8:24:54 AM PDT by Anti-Bubba182
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To: kearnyirish2

Might currency devaluation also explain the pension crisis in which many pensions seem to be underfunded, and becoming more so over time (i have not had a chance to sit down and contemplate this fully myself)?


85 posted on 06/30/2020 8:37:15 AM PDT by SteveH
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To: Fresh Wind
Extacy of Gold
86 posted on 06/30/2020 8:42:57 AM PDT by Sawdring
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To: SteveH

Jia Zhihong is highly connected to the military.


87 posted on 06/30/2020 10:02:40 AM PDT by Ozark Tom
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To: ASA Vet

Because I want my assets to be safe.


88 posted on 06/30/2020 10:04:03 AM PDT by sauropod (Quarantine is when you restrict sick people, tyranny is when you restrict healthy people.)
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To: PIF

“married Chinese gal who turned out to be Vietnamese after DNA test”

Oh yeah, I’ve been watching him and his pal, serpentza. I have in-laws there. The whole place is a toxic waste dump.
That’s funny about his wife. Now the Chinese can’t throw any insults at them anymore since she isn’t one of them...


89 posted on 06/30/2020 11:00:33 AM PDT by mikey_hates_everything
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To: dennisw

Very interesting...


90 posted on 06/30/2020 11:11:57 AM PDT by poconopundit (Iron fist in an Irish satin glove: Kayleigh "Shillelagh" McEnany we salute your work!)
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To: Candor7

83 tons? Meh. What about the 1500 tons of Germany’s gold in the US that the Feds have been very cagey about having inspected prior to repatriation requests?


91 posted on 06/30/2020 12:51:16 PM PDT by Moltke (Reasoning with a liberal is like watering a rock in the hope to grow a building.)
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To: Sawdring

Mark Knopfler ripped that off for Once Upon A Time In The West.


92 posted on 06/30/2020 1:16:37 PM PDT by dennisw
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To: Beagle8U

Beagle8U wrote: “You could even run a vehicle over it, then eat it.”


I don’t advise that. Too easy to damage your things. An antler or rib bone through the radiator will leave most people walking shortly.

The last thing you want to do is hit one on a motorcycle! Did that 6-22-20 and still recovering. Two kamikaze deer, dodged one but t-boned the second one, in town no less. Beware the pet deer!

Much easier and cheaper to just shoot them. Tastier too.

SS1


93 posted on 06/30/2020 2:13:00 PM PDT by Spitzensparkin1 (Donate often, it is our FReeping ammo. Keep the supply train rollin', become a monthly donor.)
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To: Moltke

Moltke wrote: “83 tons? Meh. What about the 1500 tons of Germany’s gold in the US that the Feds have been very cagey about having inspected prior to repatriation requests?”


Well, maybe someone should ask Rahm about this during his time as head of Treasury and Wight House Chief Of Staff at the same time. He ran our Treasury. Also wonder if Bill and Hillary could resist the temptation to pilfer gold bricks durring their eight years.

No telling how much these thieves have stolen. Traitors to their oaths, traitors to the republic. (spit)

Maybe we need to audit Ft. Knox, too.

SS1


94 posted on 06/30/2020 2:25:28 PM PDT by Spitzensparkin1 (Donate often, it is our FReeping ammo. Keep the supply train rollin', become a monthly donor.)
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To: Spitzensparkin1

PS: I first heard of fake gold plated Tungten bars showing up towards the end of Clintons second term. Never even heard of such a thing prior to them.

SS1


95 posted on 06/30/2020 2:27:55 PM PDT by Spitzensparkin1 (Donate often, it is our FReeping ammo. Keep the supply train rollin', become a monthly donor.)
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To: Spitzensparkin1

It depends on what you hit them with. A pick-up truck will knock them out of the way without much, if any, damage.

Finish them off with a tire iron.

A Squaty-Potty compact car will take a bad hit from a deer, and it may through the windshield.

My state of MI has 100’s of 1,000’s of car/deer accidents each year. There are so many that a big share don’t even get reported.


96 posted on 06/30/2020 2:44:30 PM PDT by Beagle8U (Slo-Joe Biden... puts the DEM in Dementia.)
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To: Lonesome in Massachussets
"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."

Ultrasound Testing of Gold Bars - Checking for Tungsten or other materials

97 posted on 06/30/2020 10:36:50 PM PDT by Left2Right (Keep America Great!)
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To: goldbux

* * *


98 posted on 07/01/2020 12:29:11 AM PDT by goldbux (No sufficiently rich interpreted language can represent its own semantics. -- Alfred Tarski, 1936)
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To: Mouton

Sure - and they don’t even understand how their current circumstances were shaped by that whole episode. We’ll see something similar play out now with this Red Chinese virus; the debts these governments at various levels are running up to keep their workforces paid while raising little revenues will cripple them for decades.

Nobody wants to pay taxes to deal with paychecks to government workers that are further in the rear-view mirror every year - the same way NJ, NY etc. are crippled by payments to retirees who left the government workforce decades ago.


99 posted on 07/01/2020 3:43:40 AM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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To: SteveH

The currency devaluation would come into play impacting pensions in the sense that if the current retiring workers were hired at much higher wages than their predecessors (because the money buys less, or because their union got them more money) than their contributions for much of their careers were in older, devalued dollars but their pension benefits will be paid in “newer” dollars (based on salary at retirement).


100 posted on 07/01/2020 3:53:48 AM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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