Fake Gold Bars in Bank of England and Fort Knox

[Makalakumu]

http://www.daily.pk/fake-gold-bars-in-bank-of-england-and-fort-knox-14477/

In October of 2009 the Chinese received a shipment of gold bars. Gold is regularly exchanges between countries to pay debts and to settle the so-called balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government asked that special tests be performed to guarantee the purity and weight of the gold bars. In this test, four small holed are drilled into the gold bars and the metal is then analyzed.

Officials were shocked to learn that the bars were fake. They contained cores of tungsten with only a outer coating of real gold. What’s more, these gold bars, containing serial numbers for tracking, originated in the US and had been stored in Fort Knox for years. There were reportedly between 5,600 to 5,700 bars, weighing 400 oz. each, in the shipment!


At first many gold experts assumed the fake gold originated in China, the world’s best knock-off producers. The Chinese were quick to investigate and issued a statement that implicated the US in the scheme.

Interesting.

On Aug. 5, The Federal Reserve responded to this FOIA request by adding two more documents to those disclosed to GATA in April 2008 from the earlier FOIA request. These documents totaled 173 pages, many parts of which were redacted (blacked out). The Fed’s response also noted that there were 137 pages of documents not disclosed that were alleged to be exempt from disclosure.


GATA appealed this determination on Aug. 20. The appeal asked for more information to substantiate the legitimacy of the claimed exemptions from disclosure and an explanation on why some documents, such as one posted on the Federal Reserve Web site that discusses gold swaps, were not included in the Aug. 5 document release.


In a Sept. 17, 2009, letter on Federal Reserve System letterhead, Federal Reserve governor Kevin M. Warsh completely denied GATA’s appeal. The entire text of this letter can be examined at http://www.gata. org/files/ GATAFedRespon” onclick=”window. open(this. href);return false;” onclick=”window. open(this. href);return false;” onclick=”window. open(this. href);return false;” onclick=”window. open(this. href);return false;” onclick=”window. open(this. href);return false;” onclick=”window. open(this. href);return false;” onclick=”window. open(this. href);return false; … 7-2009.pdf.


The first paragraph on the third page is the most revealing.”In connection with your appeal, I have confirmed that the information withheld under exemption 4 consists of confidential commercial or financial information relating to the operations of the Federal Reserve Banks that was obtained within the meaning of exemption 4. This includes information relating to swap arrangements with foreign banks on behalf of the Federal Reserve System and is not the type of information that is customarily disclosed to the public. This information was properly withheld from you.”

Perhaps the thieves were caught red handed?

 

[Archangel M]

I dunno. I can find no major news source that can verify this. Nobody seems to be reporting on it.

I will wait for Snopes.

 

[Makalakumu]

I dunno. I can find no major news source that can verify this. Nobody seems to be reporting on it.

I will wait for Snopes.

Yeah, the article was very dodgy looking. OTOH, it wouldn't be the last time MSM "missed" the big story. LOL!