Journal: Fake Gold Bars from China to India, Made in the USA–Federal Reserve and Bank of NY Accused–Meanwhile, Prison Planet and Bullion Vault Say No

02 China, 03 Economy, 03 India, 06 Russia, 10 Transnational Crime, Commerce, Commercial Intelligence, Ethics, Government
Full Story Online
Back-Up Copy Online
Original Online Source
Original Online Source

Phi Beta Iota: We are NOT making this up.  People from around the world are starting to send us this stuff, and we love it–this clearly demonstrates the power of public intelligence in the aggregate, and the importance of multiniational information-sharing and multinational sense-making, the bulk of which is not now and never will be “secret.”  We would not be at all surprised to start seeing Goldman Sachs and Bank of New York executives dying like flies, with former Secretaries of the Treasury and Chairs (and NY Governors) of the Federal Reserve having pride of place on the hit list.  The Russians and Chinese (and soon the Indians) all have a right to take “extreme exception” to the state-sponsored crimes the above document discusses.

Preliminary Rebuttal
Preliminary Rebuttal

The Rumor About London Good Delivery Gold Bars That Are Allegedly Filled with Tungsten

BullionVault says: Accredited custodians only take in bars from other accredited vaults, and metal only enters the system from accredited refiners. Even when they bear the correct bar stamps, large gold bars are not usually accepted from people outside the Good Delivery circuit, which is why taking a Good Delivery bar into private possession seriously dents its value.

Phi Beta Iota: Hubris cannot be discounted, and since the Federal Reserve is part of the Good Delivery Circuit and its integrity has been severely impugned, this issue must join the matter of pre-9-11 gold evacuation from the World Trade Center as requiring further investigation.