Hi everyone!
Dean in az again,just wanted to see if anyone else has heard this rumor.Apparently,15 year's ago or so,the US gov't created gold plated tungsten filled fake gold bar's for Ft Knox.These were 400 oz bar's worth about 450,000 buck's,so I doubt we have any stashed away,but let's think about this for a few minute's.
According to the rumor,tungsten has the same weight and density as gold...I'd have to look it up,but let's assume it.If the market were slowly saturated with fake gold,the price would fall,as there would be "extra" gold in the marketplace.
If the fake gold was slowly traded,and then retraded for real gold,the price would be stable.Like laundering cash.
If this story has any truth,they claim between 1.3 and 1.5 million bar's were found to be out there,the price of gold would go thru the roof.
Let's say your a large government that the US owe's a fortune to,and paid in gold bar's...then you wake up today to find they were fake.Your fiat currency would crash! The dollar is bad enough as is,then your find out that Ft.Knox is filled with 10 buck a pound tungsten.
Now,I'm not into conspiracy theorie's.Especially if it's some major gov't thing,as we know how well they keep secret's.My point is,if the govt think's they can pull this off,I'm sure some sweatshop in China could do the same with 1 oz gold or silver.How many of us are willing to cut our coin's in half to check?
8 comments:
So, are you trying to tell people not to invest in gold and/or silver??
Bob
III
I think I would still invest in gold or silver, but I'd make damn sure that it was real first. Personally though, all of our investments go into paying off debt and buying preps...can never have too much supplies and can never go wrong with preps. Stored food, livestock, feed for livestock, things like hand pumps, hand tools, timber saws, wood stoves, canning supplies, guns, ammo, knives, building materials, and just about anything that will last a long time, can be used and can be traded later on.
My point wasn't whether or not you should invest in gold or silver.As long as all your other thing's are in order,go for it! I personally prefer junk silver,as they are easy to identify and smaller denomination's.
My point was,that if the international market were to fall for this,how easy would it be for a small investor,who may never have seen the real thing?
In a barter situation,if someone bartered you an old worn 1 dollar gold coin,only to later find out it was a silver dollar gold plated? How many people have seen many 1 dollar gold coin's,or say some 1870's silver dollar to compare it to? I picked up one of those gold plated 64 kennedy half dollar's for a song.All of us know they never made them,but to the uninformed person,they may think it's real gold.Use reliable dealer's,and stay educated.Maybe a coin book to keep in the prep box would be handy.
Dean in az
...interesting post Deano,definitely food for thought huh ?...(un)fortunately not an issue here...stashed 'junk(?)' silver/gold coins and jewelry are the extent of my 'fort knox'...
...good ol'fashioned steel,aluminum,copper,brass and lead,make up my 'precious metals'...lol
The more I think about this,the more I think I missed my point.Ken,I'm with you,as I can't afford the big gold stuff as it is.But.I'm looking at counterfieting in general.If you barter an ounce of silver for corn,only to find it's field corn instead of sweet corn as you'd assumed..Or 3 ounce's for 5 gallon's of gas,only to find it's 4 1/2 gallon's of water with gas on top.Flour mixed with talcum powder.
Just as any crisis will bring out the price gouging,a real SHTF will bring out the fake's.What did plywood sell for before Katrina? What did a generator bring the day after? I think that was my original intent.
Dean in az
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