Bob Chapman On The Tungsten Gold Bars

Bob Chapman On The Tungsten Gold Bars

Bob Chapman returns on the Tungsten Gold plated bars scandal after a German TV have found a Tungsten bar sold as gold and professionally counterfeited , Bob Chapman advises against Gold bars if you are not able to check them out very carefully , he prefers coins to bars
German ProSieben TV Channel Finds 500 Gram Tungsten Bar At W.C.Heraeus Gold Foundry With Bank Origin
From my estimate, 500 grams (or about 17.63 ounces) of gold at spot should be about $20,000 (US) instead of just over $20 (US) that Tungsten would be worth. That’s quite a rip-off.
Tyler Durden
March 2, 2010
German TV station ProSieben finds what appears to be some evocative proof of gold counterfeiting, in the form of tungsten gold substitutes coming to the W.C.Heraeus foundry, which is the world’s largest privately-owned precious metals refiner and fabricator, located in Hanau, Germany. The foundry has isolated at least one 500-gram tungsten bar due for melting, originating from a (so far) unnamed bank, which as the head of the foundry stated made the unpleasant discovery that “not all the glitters is gold.”

Gold Back in a Big Way After $130 Million Purchase by Soros

He’s buying the ETF instead of physical gold. The ETF does not carry with it any “right” to exchange it for gold, and some doubt if the fund that holds it even has much physical gold. I could be wrong but I think this ETF is run by J.P. Morgan. When the banks collapse, I think it’s a given the market will collapse as well. Won’t that leave him out in left field with all that paper? I could care less what happens to the POS George Soros, but I would have thought someone who knows the markets like he does would be in physical gold and not what amounts to another fiat. The massive investment in GLD indicates that he is betting on an overall downturn in the stock market. We might see something similar to 2008. Which would create another period of great buying opportunities. But what might be in play here are GRA’s. If Obama confiscates all public and private retirement accounts, Soros has positioned his investments in stocks that offer some protection against resulting losses. Such a confiscation of wealth could also trigger massive civil unrest. If you’re not familiar with Obama’s GRA plan, I recommend researching it.