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Keyword: goldbars

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  • 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal

    06/30/2020 2:06:43 AM PDT · by Candor7 · 103 replies
    The Donald Win ^ | 29 June 2020 | dirtysanchez69
    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.
  • Exclusive: Fake-branded bars slip dirty gold into world markets

    08/28/2019 8:58:55 AM PDT · by Steve1999 · 33 replies
    Reuters ^ | 08-28-19 | Peter Hobson
    LONDON (Reuters) - A forgery crisis is quietly roiling the world’s gold industry.Gold bars fraudulently stamped with the logos of major refineries are being inserted into the global market to launder smuggled or illegal gold, refining and banking executives tell Reuters. The fakes are hard to detect, making them an ideal fund-runner for narcotics dealers or warlords. In the last three years, bars worth at least $50 million stamped with Swiss refinery logos, but not actually produced by those facilities, have been identified by all four of Switzerland’s leading gold refiners and found in the vaults of JPMorgan Chase &...
  • Gold bars with faked logo slipped into global markets, JPMorgan vaults: report

    08/28/2019 9:12:15 AM PDT · by DFG · 23 replies
    NY Post ^ | 08/28/2019 | Yaron Steinbuch
    Gold bars stamped with fake logos of major refineries have been circulated into the global market and landed in the vaults of JPMorgan Chase & Co. — part of a plot to launder smuggled or illegal specimens of the precious metal, according to a report. Bars worth at least $50 million stamped with the logos of Swiss refineries that did not produce them have been identified by all four of the country’s top gold refiners in the last three years, Reuters reported. They have been found in the vaults of JPMorgan, one of the major banks at the center of...
  • Russian Plane Loses Gold Bars Worth $378 M After Door Breaks

    03/15/2018 10:20:14 AM PDT · by BenLurkin · 24 replies
    A reported 200 bars of gold and other precious metals have scattered across an airport runway in Russia after a cargo plane door broke off upon takeoff. Strong winds blew off the Nimbus Airline An-12 cargo plane door upon takeoff from Yakutsk Airport, airport officials told Interfax on Thursday.  After the incident, the plane crew made an emergency landing in a village airport some 12 kilometers from Yakutsk.
  • Obama Donor Helped Free Terrorist Behind Benghazi Attack

    01/08/2014 8:56:42 PM PST · by smoothsailing · 28 replies
    Frontpage Mag ^ | 1-8-2014 | Daniel Greenfield
    Obama Donor Helped Free Terrorist Behind Benghazi Attack January 8, 2014 by Daniel Greenfield The left is rushing to blame Bush for the Benghazi attack, now that the State Department is moving to name a former Gitmo detainee released by Bush as a key figure in the attack. But Gitmo detainees were released as part of a pressure and lawfare campaign by the radical pro-terrorist left. Including Obama’s backers. The left-wing organization that helped spring Qumu was the Center for Constitutional Rights. Last April, the group issued an indignant press release painting Qumu as a harmless victim and blasting those...
  • Gold Drain at the New York Fed: Where's It Going?

    12/07/2014 8:10:04 AM PST · by Kaslin · 75 replies ^ | December 7, 2014 | Mike Shedlock
    Nick at Sharelynx Gold, also known as Gold Charts "R" Us emailed an interesting chart last week showing gold drain at the New York Fed. Earmarked gold dropped 42 tonnes for the month of October as foreign countries repatriate their gold home. Here's a link to Earmarked Gold with a second chart that shows all Fed holdings. Gold Charts "R" Us has 1,000's of pages and over 10,000 charts on a subscription basis, but you can check out the site for free until December 14. Click on the first link at the top for a look. Where's the Gold Going?...
  • One Ton Gold Shipment Into Hong Kong Revealed To Contain Just Worthless Metal

    06/06/2014 12:11:19 PM PDT · by blam · 33 replies
    Zero Hedge ^ | 6-6-2014 | Tyler Durden
    Tyler Durden 06/06/2014 Two years ago, stories of fake tungsten-filled gold coins and bars began to spread; it appears, between the shortage of physical gold (after Asian central bank buying) and the increase in smuggling (courtesy of India's controls among others) that gold fraud is back on the rise. As SCMP reports, a mainland China businessman, Zhao Jingjun, discovered that HK$270 million of 998kg of gold bars he bought in Ghana had been swapped for non-precious metal bars. What is perhaps even more worrisome, given the probe into commodity-financing deals and the rehypothecation evaporation; these gold bars were shipped to...
  • Demand For Gold "CombiBars" Soaring

    12/24/2012 6:33:43 AM PST · by Kartographer · 8 replies
    ZeroHedge ^ | 12/24/12 | Tyler Durden
    One of the biggest complaints about gold - always a parallel currency to paper, and soon to be serial, once the world shifts to a post-paper currency reality in which faith in infinitely creatable electronic paper money is finally destroyed - is that it would be an impractical medium of exchange, as the traditional denominations are so large one would be unable to trade one ounce (and certainly one bar) for every day needs. This is also one of the main reasons various retail investors prefer silver over gold. All this may be changing courtesy of Swiss refiner Valcambi which...
  • Soldiers find block of gold worth $110K

    02/07/2006 3:46:41 PM PST · by SandRat · 84 replies · 2,569+ views
    ARNEWS ^ | Feb 7, 2006 | Maj. Tom Bryant
    Master Sgt. Jay Phelps and Sgt. Teresa Burroughs hold the 25-pound block of gold they discovered in their office at FOB Speicher. Staff Sgt. Jesse C. Riggin Printer-friendly version TIKRIT, Iraq (Army News Service, Feb. 7, 2006) – A unique challenge for two Soldiers arose recently with the discovery of a very special doorstop in the terrain team’s work space: a 25-pound block of solid gold. “I noticed it during the relief-in-place with the unit before us, sitting under the table in the office,” said Sgt. Teresa Burroughs, a terrain analyst in the 3rd Brigade Combat Team, 101st Airborne...
  • Hurricanes May Have Uncovered Treasures In Fla. Waters

    03/01/2005 9:32:02 AM PST · by DaveLoneRanger · 37 replies · 3,636+ views ^ | February 24, 2005 | Staff
    ORLANDO, Fla. -- The hurricanes of 2004 may have uncovered sunken treasure buried for centuries off Florida's east coast, according to a Local 6 News report. John Brandon, who has been hunting treasures since he was 16 years old, showed Local 6 News some of his found treasures. "I found this on my birthday one year," Brandon said. "We found 12 pounds of gold bars." Brandon believes Hurricanes Frances and Jeanne may have shaken loose lost Spanish treasure off Florida's coast "It's going to be a changed landscape, there's no doubt about it." Brandon said. Every discovery made in Florida...
  • Saddam's gold discovered in truck

    08/04/2003 7:23:13 PM PDT · by chance33_98 · 44 replies · 488+ views
    Saddam's gold discovered in truck HILLAH, Iraq, Aug. 4 (UPI) -- A routine Iraqi traffic stop has turned up what may be $90 million in gold bars in this town just over 50 miles south of Baghdad. While the financial haul is major, U.S. Marines helping to get this town back on its feet say something more valuable has come out of the episode: the notion that Iraqis can begin to trust their government. "It just shows you the character and integrity of the people will come up and surprise you," said Maj. Martin Casado, the operations officer for...
  • Iraq's 'gold' mostly copper

    08/02/2003 2:18:10 AM PDT · by sarcasm · 27 replies · 326+ views
    Reuters ^ | August 2, 2003
    <p>WASHINGTON -- Gold-colored bars seized by US forces in Iraq appear to be melted-down shell casings made mostly of copper, rather than gold, the White House said in a report obtained yesterday.</p> <p>The US military announced the discovery of truckloads of the gold-colored bars in May.</p>
  • Saddam 'stashed $1.3bn in Switzerland'

    06/21/2003 5:41:22 AM PDT · by knighthawk · 4 replies · 326+ views
    Deposed Iraqi president Saddam Hussein stashed a fortune worth more than 1.13 billion Swiss francs ($1.28 billion) in Switzerland, a Swiss newspaper said today. The business weekly Cash said the hoard included 300 kg of gold bars, which has a market value of Sfr4.5 million ($5.1 million), in an account with the gold refinery Metalor in Neuchatel. The Swiss National Bank also said Sfr386 million ($435 million) were lodged in Swiss accounts in Iraq's name, Cash reported. The Bank for International Settlements in Basle said it had frozen Sfr750 million ($845 million) belonging to the former Iraqi regime. The Metalor...
  • U.S. seizes gold bars in Iraq

    05/26/2003 11:22:10 AM PDT · by kattracks · 41 replies · 3,147+ views
    Reuters | 5/27/03 | Daren Butler
    Tuesday May 27, 12:20 AMU.S. seizes gold bars in IraqBy Daren ButlerKIRKUK, Iraq (Reuters) - U.S. troops seized a truck laden with suspected gold bars worth up to $100 million (60.9 million pounds) at a checkpoint in northern Iraq, the second such find in four days. Major Kevin Petit said on Monday that soldiers found 999 bars under a tarpaulin in an old Mercedes on Sunday during a search near the oil city of Kirkuk and questioned the truck's three occupants. The driver had said he had been paid $300 to carry what he said were copper bars from Baghdad...
  • Half a Billion in Gold found in Iraqi Truck

    05/23/2003 8:32:28 AM PDT · by 12B · 72 replies · 292+ views
    Reuters | May 23rd, 2003 | Reuters
    17:15 23May2003 RTRS-UPDATE 1-US seizes what may be $500 million in gold in Iraq (Add details, background) WASHINGTON, May 23 (Reuters) - American troops have seized what appears to be $500 million worth of gold bars from a truck in Iraq, the U.S. military said on Friday. The 2,000 40-pound (18 kg) bars were seized on Thursday at Qaim on the Syrian border in western Iraq by soldiers of the 3rd Armored Cavalry Regiment, the U.S. military's Central Command said in a statement. It said the bars could be gold and worth as much as $500 million, depending on karat...
  • US Army seizes apparent $500 million in gold [in Iraq]

    05/23/2003 8:32:17 AM PDT · by NativeNewYorker · 6 replies · 158+ views
    upi via bloomberg no url | 5/23/3
    WASHINGTON, May 23 (UPI) -- U.S. soldiers in Iraq seized what is believed to be some $500 million worth of gold during a routine vehicle search near the border with Syria, U.S. Central Command said. Soldiers from the 3rd Armored Cavalry Regiment stopped a Mercedes truck in Al Qaim Thursday and discovered 2,000 40-pound, 10-inch long ingots. The driver and passenger in the vehicle said they had been paid about $350 to pick up the truck in Baghdad and drive it to Al Qaim. They said they were told the bars were bronze. The truck, the two men and the...
  • UPDATE: Officials say found Iraq gold may be worth half a billion dollars

    05/23/2003 7:51:38 AM PDT · by kattracks · 38 replies · 579+ views
    AP | 5/23/03
    WASHINGTON (AP) -- At a roadblock in Iraq, American troops confiscated what they believe may be gold bars worth up to $500 million, defense officials said Friday. A truck carrying some 2,000 bars was stopped by soldiers of the 3rd Armored Cavalry Regiment at a military checkpoint near Qaim, a northwestern city near Iraq's border with Syria, said U.S. Central Command. The bars still must be tested to make sure they are gold, Central command said in a statement. Two people were taken into custody, but it was unclear who they were, their nationality, and where they got the bars....
  • U.S. Troops in Iraq Find $34M in Gold

    05/23/2003 7:47:36 AM PDT · by kattracks · 14 replies · 189+ views
    The Associated Press WASHINGTON May 23 — American troops confiscated gold bars valued at $34 million from a truck in northern Iraq, defense officials said Friday.The truck carrying 1,600 gold bars was stopped at a military checkpoint near Qaim, a northwestern city near Iraq's border with Syria, Pentagon officials said. Two men were taken into custody, but there were no details on who they were, their nationality, nor where they got the gold.