*BREAKINGAn Austrian banking source has reportedly claimed that Deutsche Bank ‘fulfilled’ one gold repatriation in recent years with the help of Tungsten and further claims that the tungsten salted gold bars have turned up in Asia.
In 2009, Rob Kirby first uncovered detailed information regarding a massive plot to replace 400 oz good delivery gold bars with highly sophisticated tungsten filled fakes- and even provided evidence that the bars had been swapped with the gold held at Fort Knox.
Widely scoffed at by the financial media in 2009, Kirby appears to have released a Pulitzer worthy story nearly half a decade ahead of its time, as if the Austrian source’s claims are true and Deutsche Bank has in fact fulfilled a recent gold repatriation request with gold plated tungsten, the ramifications are that not only is every single claim made by GATA regarding gold and silver manipulation are 100% accurate, but that real, physical metal is now in desperately short supply and the jig is nearly up for the bullion bank cartel.
This is not 10 small retail PAMP bars found in the Manhattan jewelry district in which a retail jeweler was duped, but a sophisticated con of epic proportions, in which one of the world’s largest bullion banks has reportedly attempted to con a large client.
The Slog reports that at least some of the tungsten tainted gold has now turned up in Asia and that as alleged by Rob Kirby, the source appears to be the US:
A Slog source in Austria is now alleging that Deutsche Bank ‘fulfilled’ one gold repatriation in recent years with the help of Tungsten. He further claims that some of this has now turned up in Asia. Their origin is thought by Beijing to be the United States of America.
This is no small retain scam:
We are talking about an Establishment eurobank alleged to have been caught short on a fulfilment order, and using the tungsten scam to fill the gap.
This is an entirely different criminal intent (from the Manhattan jewelry district discovery): not the somewhat crude attempt to con a retail greenhorn, but rather an well-planned and sophisticated ‘salting’ of the gold bars by a major bank….designed to fool even an expert engaged in approving the purchase for a large sovereign client.
Unlike when Rob Kirby first reported the story in 2009, in the wake of the massive LIEBORGATE scandal, bullion banks fulfilling gold repatriation requests with tungsten salted gold is suddenly 100% believable by the general public.
There is no reason at all for anyone to see this as far-fetched. The SME scams pulled by RBS, and Libor manipulations carried out across the piece of Establishment banking, have been solid evidence in recent times of desperation on the part of those suddenly faced with a brave new world where Berlin wants all its gold back….but the gold isn’t there any more.
Mr. Chavez, you may want to consider having the subject of your photo-op, as well as your entire 100 tons of gold repatriated in 2011 remelted ASAP. Or, perhaps you are already perfectly aware of this matter and that explains why the tungsten filled bars are suddenly turning up in Asia.
Source: Reuters
No matter, if true and this story gains traction over the coming weeks, the cartel bullion bank gold and silver manipulation is history.
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THE SLOG
THE SLOG
Fool’s Gold? Deutsche Bank, China, and US embroiled in faking suspicions
On and off for over five years now, I’ve been reporting on the
existence or otherwise of (1) the gold the US Federal Treasury claims to
have stored securely at various points across America and (2) a
fix/manipulation scam on the price of gold per se. When I first raised
these points (along with thousands of other sites) in late 2006, we were
all of us consigned by the commentariat of the day to those Outer
Limits reserved for The Loonies.
Since that time, we have seen the mysteriously dramatic rise in the
level of Chinese gold reserves, the admission by several central banks
that they’ve been buying and selling the stuff below the radar, and the
scandals involving manipulation of the Libor and Eubor rates which, on
their own, make the claims of gold jiggery-pokery look considerably more
credible.
During 2009, I reported a couple of times about major gold investors
known to me personally who were having trouble persuading Swiss storage
facilities to cough up the shiny metal, once those gold-bugs decided
they’d like to shift it to somewhere less remote than Cuckoo-clock land.
Over the last few weeks, we have seen various sovereign States (led by
Germany) saying they’d variously like to audit and/or shift their gold
reserves nearer to home. The US Federal Reserve’s delay in obliging its
clients with sight and shipping of said stocks has gone from being
mildly amusing via odd to alarming.
But now a new fraud has entered the frame.
For those who don’t already know this, tungsten has very nearly the
same density as refined gold. Gold sells today at around $1740 an ounce,
and Tungsten at $10 a pound. With a bit of judicious disguise, putting
tungsten inside a gold bar can even fool an X-ray machine under certain
circumstances. A Slog source in Austria is now alleging that Deutsche
Bank ‘fulfilled’ one gold repatriation in recent years with the help of
Tungsten. He further claims that some of this has now turned up in Asia.
However, here’s the killer: since hearing this rumour (actually, it’s
rather more than that, but I have a source to protect here) I’ve made a
couple of calls and read some well-argued websites on the subject of
tungsten issues. One consistent feedback concerns the Chinese opinion on
these bars.
Their origin is thought by Beijing to be the United States of America.
Forbes rubbished the tungsten-in-gold story
last March, but from a commonsense viewpoint I was struck by the
article’s (a) apparent inability to see beyond drilling and infilling as
the method, and (b) the author’s unwillingness to see the problem as
only likely to occur in smallish shipments. Late last September,
however, Zero Hedge
ran a Tyler Durden piece confirming that several smaller retail gold
bars sold in Manhattan had been found to have tungsten innards. The ZH
take on this event was that it might be part of yet another Fed Reserve
attempt to impugn gold’s validity, and thus keep investors locked into
the stock market, bonds and property.
But the thing I’m hearing about in this instance – while it could
have the same Fed/Central Bank motive – is on an entirely different
scale. Here we are talking about an Establishment eurobank alleged to
have been caught short on a fulfilment order, and using the tungsten
scam to fill the gap.
This is an entirely different criminal intent: not the somewhat crude
attempt to con a retail greenhorn, but rather an well-planned and
sophisticated ‘salting’ of the gold bars by a major bank….designed to
fool even an expert engaged in approving the purchase for a large
sovereign client. Here, using perhaps as little as 25% tungsten would be
enough to make up the embarrassing shortfall.
There is no reason at all for anyone to see this as far-fetched. The
SME scams pulled by RBS, and Libor manipulations carried out across the
piece of Establishment banking, have been solid evidence in recent times
of desperation on the part of those suddenly faced with a brave new
world where Berlin wants all its gold back….but the gold isn’t there any
more.
The ramifications of this go far beyond a pro-am retail fraud. First
off, ultimate discovery of the scam is a certainty: so you’d have to be
pretty damned desperate to try it on. And second, I do find it
intriguing that these reports have popped out of the woodwork just when
the ECB is thought to be planning some form of gold-backing for any
eventual eurobond issues – should the eurozone survive. Trust me, if
Mario Draghi is capable of pulling the stunts he’s been at vis-a-vis
Greek bailout ‘money’, Bank of Greece money-printing, and bondholder
subordination, then like most Goldman Sachs graduates, he’s capable of
anything.
As I write, gold is trading at the upper end of $1746-1751 per oz.
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