Operation Grand Slam

When the news of tungsten "salted" gold bars in Hong Kong first surfaced,
many people
who I am acquainted with automatically assumed that these bars were
manufactured in
China - because China is generally viewed as "the knock-off capital of the
Here's what I now understand really happened:
The amount of "salted tungsten" gold bars in question was allegedly between
5,600 and 5,700 - 400 oz - good delivery bars [roughly 60 metric tonnes].
This was apparently all highly orchestrated by an extremely well financed
criminal operation.
Within mere hours of this scam being identified - Chinese officials had many
of the perpetrators in custody.
And here's what the Chinese allegedly uncovered:
Roughly 15 years ago - during the Clinton Administration [think Robert
Rubin, Sir Alan Greenspan and Lawrence Summers] - between 1.3 and 1.5
million 400 oz tungsten blanks were allegedly manufactured by a very
high-end, sophisticated refiner in the USA [more than 16 Thousand metric
tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold
plating and WERE shipped to Ft. Knox and remain there to this day. I know
folks who have copies of the original shipping docs with dates and exact
weights of "tungsten" bars shipped to Ft. Knox.
The balance of this 1.3 million - 1.5 million 400 oz tungsten cache was also
plated and then allegedly "sold" into the international market.
Apparently, the global market is literally "stuffed full of 400 oz salted
Makes one wonder if the Indians were smart enough to assay their 200 tonne
haul from the IMF?
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Best Regards
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On the other hand, all the references Google turned up on this quoted the exact same page you did...
Well, a gold foil hat is certainly prettier than a tin foil hat!
Reply to
I didnt check the authors sources but thought it a fun read since it has metalworking content some of the people here might enjoy it even if its total BS. Maybe the story is an attempt to cause panic in the gold markets by some nutter ?
Best Regards Tom.
Reply to
A real case of gold fraud. Quote: -------------------------- Exposure of the fraud
The fraud began to unravel rapidly on March 19, 1997 when Filipino Bre- X geologist Michael de Guzman died falling from a helicopter in Indonesia. His body was found four days later in the jungle, mostly eaten by animals and identified from molars and a thumbprint. On May 12, 2005, however, the National Post published a front-page story asking if de Guzman might still be alive. One of his multiple wives claimed to have received a Brazilian money order from him, dated February 2006.
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the old "falling from a helicopter" trick. One of the oldest tricks in the world, eh Max?
Reply to
N Morrison
Either up or down! - prices of gold is very high.
I tend to believe it is a false story - but nowadays anything goes... Greed is rampant.
azotic wrote:
Reply to
Martin H. Eastburn
One would think that gold bars are carefully checked with nondestructive methodes to determine if they are in fact what they claim to be. I have to say that the author is a gold foil hat candidate and the story is total BS.
Best Regards Tom.
Reply to
To me, the tipoff that the story is BS is that Titanium is a whole lot lighter than Gold -- a 400 oz bar of Au-plated Ti would be more than double the size of an Au bar of the same weight (IIRC).
In order for the story to be considered there could be no physical handling of a bar by a human that was experienced in handling the stuff and THAT I find to be most unlikely.
Reply to
========= Original post seems to have suggested tungsten not titanium cores. Tungsten (sg 1.96) is indeed slightly heavier than gold (sg 1.93), so the core would need an aluminum slug for "adjustment," of the specific gravity for a perfect match.
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While a global effort may be a stretch, this seems to actually occurred in one or more of the African nations.
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Given the rush to criminal activity by our moneyed classes [and wannabes], and the steep increase in the price of gold, unfortunately it is not however beyond the realm of possibility that some short sales were settled with ersatz product.
I wonder how many people in the criminal organizations, e.g. the Cali, Medellín, and Norte del Valle Cocaine Cartels in Columbia have been burned with fake gold. Somehow I don't think this would be a smart career move, even if they can't go to the courts to sue for fraud.
Unka' George [George McDuffee] ------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625).
Reply to
F. George McDuffee
You mean "denser", not "heavier".
One precious property of gold is that it is denser than anything cheaper. At least to the ancients, before tungsten. It is quite feasible to cast counterfeit gold bars with a core of tungsten alloy powder adulteration that will pass any density test.
Reply to
Richard J Kinch

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