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CBC: Royal Canadian Bank discovered to possibly have fake gold bars
Posted on 11/2/17 at 8:11 am
Posted on 11/2/17 at 8:11 am
LINK
The Royal Canadian Mint is investigating how a sealed, "pure gold" wafer with proper mint stampings may in fact be a fake.
The one-ounce gold piece, which was supposed to be 99.99 per cent pure, was purchased by an Ottawa jeweller on Oct. 18 at a Royal Bank of Canada branch. Yet tests of the bar show it may contain no gold at all.
When neither the mint nor RBC would take the bar back, jeweller Samuel Tang contacted CBC news.
"Who is going to make sure those [gold wafers] are real?" asked Tang. "I am worried there are more of those [gold wafers] out there, and no one knows."
RBC has now picked up the bar and and returned it to the mint for testing, refunding Tang the $1,680 purchase price.
...
The Royal Canadian Mint is investigating how a sealed, "pure gold" wafer with proper mint stampings may in fact be a fake.
The one-ounce gold piece, which was supposed to be 99.99 per cent pure, was purchased by an Ottawa jeweller on Oct. 18 at a Royal Bank of Canada branch. Yet tests of the bar show it may contain no gold at all.
When neither the mint nor RBC would take the bar back, jeweller Samuel Tang contacted CBC news.
"Who is going to make sure those [gold wafers] are real?" asked Tang. "I am worried there are more of those [gold wafers] out there, and no one knows."
RBC has now picked up the bar and and returned it to the mint for testing, refunding Tang the $1,680 purchase price.
...
5
Posted on 11/2/17 at 8:12 am to notsince98
quote:
Royal Canadian Bank
Well, Canada isn't a real country. It's natural that they don't have real gold.
Posted on 11/2/17 at 8:14 am to notsince98
quote:
When neither the mint nor RBC would take the bar back
Well that is pretty messed up.
Posted on 11/2/17 at 8:37 am to DumpsterFire
I wonder how many will see the connection to much bigger issues.
Posted on 11/2/17 at 8:42 am to notsince98
i actually watched a video a few weeks ago about how most gold traded doesn't actually exist
this would be a major conspiracy theory boom that doesn't involved child rape, for once
this would be a major conspiracy theory boom that doesn't involved child rape, for once
Posted on 11/2/17 at 8:48 am to SlowFlowPro
quote:
i actually watched a video a few weeks ago about how most gold traded doesn't actually exist
this would be a major conspiracy theory boom that doesn't involved child rape, for once
Fake gold tungsten bars have also been discovered in Manhattan.
Hrm....I wonder what large financial institution dealing with currency and gold is located in NYC?
Posted on 11/2/17 at 8:49 am to notsince98
Obligatory
Posted on 11/2/17 at 8:50 am to SlowFlowPro
quote:
this would be a major conspiracy theory boom that doesn't involved child rape
Would it?
Posted on 11/2/17 at 8:51 am to notsince98
I thought part of the value of gold was its ease to identify. Is it that easy to "fake"?
Posted on 11/2/17 at 8:54 am to Y.A. Tittle
quote:
I thought part of the value of gold was its ease to identify. Is it that easy to "fake"?
I'm not sure. There publicly documented cases of gold colored tungsten bars. I guess tungsten matches the mass properties of gold very closely. I have no idea how good the color is.
I didn't read close enough to tell if these are like gold plated tungsten or if they are mixing something with the tungsten to make it look like gold.
If it is real gold plating the tungsten then they would look and feel completely normal. You wouldn't know until you start to cut into one or melt one down like the jeweler did that discovered it.
Posted on 11/2/17 at 9:09 am to Y.A. Tittle
quote:
I thought part of the value of gold was its ease to identify. Is it that easy to "fake"?
From the little I know, it seems the trouble arises when there are multitudes of bars moving about. It becomes easier to slip in a few fake ones. Mix in the occasion of people or entities seeking to trade in commodities for questionable reasons, and the problem can surface.
Posted on 11/2/17 at 9:22 am to SlowFlowPro
quote:
actually watched a video a few weeks ago about how most gold traded doesn't actually exist
I believe it. Our entire monetary system is based simply on feeling or faith. Just numbers assigned to something that we believe is there and based on what we think it is worth. You could take a worthless rock with no mineral value and convince people it's worth something and if they believe you then bam it's valuable.
It's what they did with diamonds. Little known fact is diamonds aren't rare at all. One company just controls all the mines and limits the supply and back in the late 1800s ran a great marketing campaign convincing people diamonds are a show of love and commitment. It was brilliant really
Posted on 11/2/17 at 9:29 am to deltaland
quote:
I believe it. Our entire monetary system is based simply on feeling or faith. Just numbers assigned to something that we believe is there and based on what we think it is worth. You could take a worthless rock with no mineral value and convince people it's worth something and if they believe you then bam it's valuable.
It is most likely to get people comfortable with the concept of electronic currency. There is clearly a push to eliminate cash. Now fiat currencies like bitcoin are all the rage.....It is all beginning to look suspicious.
Then you have something like puerto rico come along and remind everyone paying attention that you can't function in an electronic currency society if you don't have power and internet.
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