Posted on 08/28/2019 9:12:15 AM PDT by DFG
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 the market in bullion, senior executives at gold refineries, banks and other industry sources told the news outlet.
(Excerpt) Read more at nypost.com ...
Crap - they're on to me....
lol!
And you using Psalm 73 as a name on the board!!
Although this is the first time i read it and it does say
“envied the arrogant when I saw the prosperity of the wicked”
It WAS YOU.
You cracked :)
Seriously, beautiful Psalm
Gold is gold. ..........
Are the Clintons laundering the gold that they stole from us?
With modern machining and metallurgy, gold may now be easier to fake by criminals than certain paper currency.
I dont believe it is possible to 100% verify the current generation of fake bars without cutting or melting them down. Tungsten alloys can match the exact density and a thick layer of real gold on top will give the correct result for all other tests.
Bars worth $50 Million? Hmmm.... Using gold at $1,500/oz...
$50,000,000 / $1,500/oz is about 33,333 oz.
33,333 oz is 2,083 lbs or about 1 ton.
I have never seen a 1 ton bar of gold!
Not in these cases. The gold is real, the brand is fake..............
The purity of the gold is not what is being faked. Read the article. It is about obscuring the SOURCE of the gold. There is an international ban on gold and minerals from so called "blood mines," i.e oppressive places around the world where slave labor is used to mine precious gems and minerals.
The fakery is in the stamping and serial number impressed on actual gold so that it can be sold and traded despite international bans on the sources of the gold.
They are talking about a cumulative value of many fake "kilo" bars worth $50,000 each, which is clearly stated in the article.
No word from Obama.
Rust and Crooks never sleep...
yep. just melt down those bars with counterfeit markings and turn them into bars with non-counterfeit markings ... no muss, no fuss ... if they don’t want to do that, then i’ll volunteer to take those poorly marked bars off of their hands for a nominal fee ...
“...yep. just melt down those bars with counterfeit markings “
That’s exactly what they are doing. They send the bars to the real refiners who will remake them...............
Perhaps. I'd seriously suggest careful assay of those bars.
They apparently have. They say the gold is real, just not the brand.
They will send the bars to the real refiners and have them remade................
Was that the movie in which lots of stolen gold was melted and re-cast as all the metal fixtures on a 48-foot sailboat?
JP-Morgan tried to install Soros as their CEO. Coincidence?
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