OT: Where's the Gold?

I am currently losing my arse on the belief that what is said above is true. I guess I will find out if I am another Linus waiting for "The Great Pumpkin" or a genius.

There have been lots of stories that gold bars in huge vaults have been fake, slugs with the right specific gravity with gold poured around them to pass visual inspection.

It's so bad that random drilling and testing are used to search for gold bar fraud.

The story you reposted saying that gold has been used for a gigantic pyramid con appears on several internet stock advisor sites.

Are any of them reputable?

Is anything like this story reported by any "reputable" news media?

I found this reportage that supports the story of the weakness/fault described.

"Gold and Silver are traded on a fractional reserve system. Far more Gold/Silver is traded than actually exists, more than

Peak Gold? I bet there's lots of gold still to be found.

It's doubtful. It has been known how to tell since ancient times:

This is true in the sense that vastly more money than gold or silver is in existence, but confuses specie-backed paper currency with the specie itself.

I'd stay away from those "internet stock advisor sites". At best, they are deeply confused.

Joe Gwinn

He said that in Jan 2010:

Yes, but it's difficult and expensive to extract. In 2006, it cost about $317/oz to mine and extract an ounce of gold. That sets the minimum price for new gold.

More than half of all humanity?s gold has been extracted in the past 50 years. Now the world?s richest deposits are fast being depleted, and new discoveries are rare. Gone are the hundred-mile-long gold reefs in South Africa or cherry-size nuggets in California. Most of the gold left to mine exists as traces buried in remote and fragile corners of the globe. It's an invitation to destruction. But there is no shortage of miners, big and small, who are willing to accept... (13 pages)

Oh well, I guess we could try mining the moon: There is water on the moon ... along with a long list of other compounds, including, mercury, gold and silver...

Are you saying that nobody's tried passing off gold wrapped tungsten as gold bars?

Do you think that fractional reserve gold at 1 to 100 is a good idea?

How to Make Convincing Fake-Gold Bars

The $17 trillion US national debt and $10.6 trillion dollars in various types of investment and savings accounts [M2], are backed by only $10.5 trillion dollars in gold. 100:1 might be a little over the top, but 2:1 is not beneath our governments dignity:

There's a lot of gold in electronic scrap. (less and less in later gear, but the really old stuff was FULL of gold.) I've managed to extract an ounce of gold and I have no IDEA what I'm doing. These old-style mainframe backplanes with the press-in gold pins had a huge amount of surface area plated with gold. Really old computer gear from Ampex, HP, RCA, Honeywell and such had some whole boards that used gold as the etch resist! The plating is quite thin, but spread it over a whole board's traces and it really adds up!

There's a chemical from Techni called Techni-strip that selectively removes the gold off old boards. It probably is impossible to get this stuff today without a hazmat license. But, it works great on edge fingers and the like.

Jon

In the 1970's, the city of Palo Alto sewage was polluted by 32mg/kg for gold, and 680 mg/kg for silver. The end "product" was incinerator ash, which was shipped to Nevada(?) for recovery. Palo Alto got about $60,000 per year for the ash. No clue how much gold and silver was actually extracted. However, the gold rush is over, as environmental controls have reduced the outflow, and the major source of silver, the Kodak film processing plant, was closed.

Techni-Strip AU is mostly potassium cyanide. There are safer recovery processes and some YouTube videos showing how it's allegedly done. For example:

Well, I'm still alive after fooling with the stuff. It works GREAT on PC board edge fingers. There is a sulfuric acid drain cleaner electrolytic process that a guy invented that works on cut-off pins. I'm not sure the sulfuric drain cleaner is actually all that safe, you can get serious chemical burns in seconds, and nasty fumes, too. But, it requires a lot less chemical fooling around to separate the gold from the suspension. Mostly just filter it out.

Jon

There was a story in an economics newspaper here that the german Bundesbank has plans to move home its gold reserves, which have been under storage in the Federal Reserve Bank, New York.

According the story, it'll take *seven years* for FRB to produce the bullion. This raises suspicions that the gold is only in the books (which it is) but no longer physically in the vault.

It was in the same story that the ABN AMRO bank has sent a letter to its customers, saying the bank is not going to return the gold left to its custody. The bank is ready to pay cash, however.

Regards, Mikko

Your reference gives some reputable names, Adrian Douglas and Porter Stansberry.

Read the lines, the story is not about decreasing gold reserves and increasing consumption* (to make the same alliteration to oil reserves). One can consume oil by chemical conversion to CO2, thereby releasing old sun energy. One CANNOT consume gold...

• Find a different reference; NO SUCH story there..

Check; read about those "problems" as well; i reported only the main story.