One Ton Gold Shipment Into Hong Kong Revealed To Contain Just Worthless Metal

[jeff of pa]

Two years ago, stories of fake tungsten-filled gold coins and bars began to spread; it appears, between the shortage of physical gold (after Asian central bank buying) and the increase in smuggling (courtesy of India's controls among others) that gold fraud is back on the rise. As SCMP reports, a mainland China businessman, Zhao Jingjun, discovered that HK$270 million of 998kg of gold bars he bought in Ghana had been swapped for non-precious metal bars. What is perhaps even more worrisome, given the probe into commodity-financing deals and the rehypothecation evaporation; these gold bars were shipped to a Chinese warehouse before Zhao was able to confirm the fraud.

One Ton Gold Shipment Into Hong Kong Revealed To Contain Just Worthless Metal | Zero Hedge

 

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[DeepseekerADS]

Whew!!! Maybe I'm glad I'm not wealthy enough to buy these.....

Small denomination US silver coins!!!!

 

[G.I.B.]

Why do I keep thinking, "what comes around, goes around" for this guy?

 

[Marchas45]

Whew!!! Maybe I'm glad I'm not wealthy enough to buy these.....

Small denomination US silver coins!!!!

Yes but don't feel safe with 90% silver either there are lots of fakes out there. Keep Stacking


Realcent.org ? View topic - Fake 90% Silver

 

[jeff of pa]

Yes but don't feel safe with 90% silver either there are lots of fakes out there. Keep Stacking


Realcent.org ? View topic - Fake 90% Silver

that surprises me.

I suppose if silver were a few hundred dollars an OZ but at todays prices, Even at $50.. an oz
it seems wasteful.

At least if silver were $1,000 an oz, a few fake Quarters & dimes mixed in a Bag would Hurt.

 

[Marchas45]

that surprises me.

I suppose if silver were a few hundred dollars an OZ but at todays prices, Even at $50.. an oz
it seems wasteful.

At least if silver were $1,000 an oz, a few fake Quarters & dimes mixed in a Bag would Hurt.

Yea but a lot of the 90% stuff where aimed at the collector market but now it's worth the forger to do thousands of dimes and quarters and other denominations and make a healthy profit. Heck that's why I have the slide tool now the best defense against the fake 90%'s. Keep Stacking

 

[skeeterd]

What's a slide tool?

 

[Marchas45]

What's a slide tool?

Very handy but expensive, Gold Silver Fastest Test Tool The Slide | eBay

 

[El Dorado Seeker]

It's so disgusting to read so many stories of fake gold bullion items.

Last year an article hit the news - it was about a bunch of fake Perth Mint bullion bars. They all looked so nice and they were in their original packages. But all fake.