Bank Caught Using Fake Gold As Reserve Capital In Russia

Zero Hedge ^ | Sept. 12, 2015 | Tyler Durden

[SatinDoll]

These bankers are going to prison for committing fraud.

So, where is Corzine? Evidently in New York City you can steal over a $billion and, because you are a Democrat, get away with it.

[Fungi]

One of Duke’s best. Satin doll.
https://www.youtube.com/watch?v=TrytKuC3Z_o

[babygene]

“(usually in the form of gold-plated tungsten)”

Not usually, always... Tungsten is the ONLY choice for such a substitute, due to it’s atomic weight.

[COBOL2Java]

Has anyone checked Fort Knox recently?

[lee martell]

That’s why they call it FOOL’S gold!

[flaglady47]

That’s what is in Fort Knox, fake gold.

[Georgia Girl 2]

IMO there is no gold in Ft. Knox.

[ProtectOurFreedom]

So what’s the connection to gold and Russian fraud?

[Fightin Whitey]

[PGR88]

The bankers are NOT going to jail. The are part of the left/progressive nanny state. You and I will be in jail before they will be

[ChildOfThe60s]

Has anyone checked Fort Knox recently?

Yeah, not long ago in 1964. It was well guarded.

[clearcarbon]

What’s Tungsten going for these days?

[Paladin2]

$1400/ troy ounce, apparenrly.

[W.]

That was my question, too—$25/pound.

[SkyPilot]

If the Admiralty bank's fraud is found to be pervasive, what will happen to physical gold demand as more banks are forced to buy the yellow metal in the open market to avoid being shuttered and/or prison time for the executives?

It means that no one will place the one thing in gold that is needed for it to be a hedge and to be stability for wealth when chaos breaks out:

[txhurl]

What was the EPA doing nosing around ancient, closed-down private Gold Mines in CO, this spring?

[Darksheare]

Future dead banker ping?

[SatinDoll]

Haven’t the foggiest.

[flaglady47]

“IMO there is no gold in Ft. Knox.”

Yup.

[babygene]

“That’s what is in Fort Knox, fake gold.”

You might very well be right. Hope not...

BTW, gold is most often tested by specific gravity. That doesn’t work in testing for tungsten since the atomic weight is almost identical. To do a non-destructive test, you need to test the resistivity of the metal or the sonic properties.