Gld ETF Warning, Tungsten Filled Fake Gold Bars

The Market Oracle ^ | 11/12/09

[editor-surveyor]

Gold was at $1135.98 this AM when some profit grabbing got underway. - It was tempting, but logic says hang on!

[TruthConquers]

I’m with you there. With some saying gold could go to $5K in xx years, hanging on is the best policy.

[Orange1998]

This rumor is starting to heat up.

[Orange1998]

This rumor is starting to heat up.

[dennisw]

One of the best explanations of gold price suppression via central bank gold leasing I’ve seen. Is that what GATA says? That a gentleman’s agreement exists that Goldman Sachs (for example) will never be asked to return the gold to our Treasury?

[Publius]

Correct. The bullion banks were told they would never have to return the gold.

[oregonborn]

The Eugene mountains about 27 miles west of Winnemucca, Nevada has a very large depost of tungsten where there is a government owned mine that just reopened a few years ago. Some told me it was started up during WWII and was closed in the 50’s or 60’s, don’t remember but they had a guard living at the mine and the everything was kept ready. Kind of makes one wonder why it opened up again considering this recent gold debaching using tungsten.

[oregonborn]

The intrinsic value of gold is that it would be exchangable for any new currency that could become available. Our US$ has become so debased that there is an increasing demand for other global currencies to be used, such as the Basket Of Currencies or SDR’s, China has already worked deals with some of their major trade countries to use the Yuan. As for GLD there is a real question as to how many people have the same bar of gold stored. IF indeed there is any stored. I certainly wouldn't touch any ETF that was paper gold, gold mining stocks would be a far safer investment.

[April Lexington]

But that raises the question of where the real gold went. Who has it? It sounds like we may have uncovered a piece of a larger plot that was aimed at cornering the world's gold. But who was doing it, and where is the real gold being stored?

George Soros?

[April Lexington]

Most likely, Clinton and his buddies “expanded” the US gold reserves by diluting the content. Same quantity of gold, just more bars of it...

[April Lexington]

There is a reason why one ounce America Eagle coins say ‘$50 Dollars on the face. Its $50 of NEW American dollars issued AFTER the current Federal Reserve Notes become worthless...

[Freedom4US]

If that were true, then those in charge of the Eagle program made a fatal error - A half-ounce coin is denominated at a logical “25 dollars”, (because the 1 ounce coin is at “50 dollars”) but the quarter ounce coin is not denominated at twelve-fifty. Jus sayin’.

The legislation that authorized the program, for whatever reason required that they be legal tender money at their face value, but the values were set so low that it is unlikely they would ever be spent.