“Fake Gold Bars”: Let Me See If I Understand This Correctly…
“Fake Gold Bars”: Let Me See If I Understand This Correctly… by Rory for The Daily Coin
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So, I am suppose to believe anything coming JP Morgan? That’s the first problem with this story is that JP Morgan is reporting an anomaly in the gold market. The second problem is this whole story about “fake gold bars” being miss “branded” and being found inside a JP Morgan gold vault.
Let’s see…. JP Morgan known liars, known thieves and known market manipulators. JP Morgan has been found guilty, I’m sorry, the company was fined instead of a conviction for wrong doing, for their participation in the LIBOR and FOREX market rigging and for their participation in drug money laundering. This is to say nothing of CEO, Jamie Dimon influencing the cryptocurrency market, and specifically the bitcoin market, when he came out and said he would fire any JP Morgan trader caught trading bitcoin and then proceeded to call bitcoin a fraud. This was quickly followed by JP Morgan announcing the release of their own cryptocurrency.
This company is nothing more than a mafia crime syndicate that operates in the open and people, probably some of you reading this article, actually continue doing business with this satanic globalist crime syndicate that intends all of humanity nothing but pain and sorrow.
Now, I’m suppose to believe someone in the JP Morgan organization recently awakened to find 1,000 kilos of “fake-branded bars”. Never mind this “discovery” just happens to be during the time of the gold bull market awakening. Funny how these two events just happen to be at the exact same time. Never mind that JP Morgan “quietly” reported it in 2017 and nothing much was made about the entire incident but now that we have a raging bull that has been set free…well, now could be the time to make it known….funny how that works.
Four of the executives said at least 1 000 of the bars, of a standard size known as a kilobar for their weight, have been found. That is a small share of output from the gold industry, which produces roughly 2-million to 2.5-million such bars each year. But the forgeries are sophisticated, so thousands more may have gone undetected, according to the head of Switzerland’s biggest refinery.
“The latest fake bars … are highly professionally done,” said Michael Mesaric, the chief executive of refinery Valcambi. He said maybe a couple of thousand have been found, but the likelihood is that there are “way, way, way more still in circulation. And it still exists, and it still works.”
Fake gold bars – blocks of cheaper metal plated with gold – are relatively common in the gold industry and often easy to detect.
The counterfeits in these cases are subtler: The gold is real, and very high purity, with only the markings faked. Fake-branded bars are a relatively new way to flout global measures to block conflict minerals and prevent money-laundering. Such forgeries pose a problem for international refiners, financiers and regulators as they attempt to purge the world of illicit trade in bullion. Source
So, these bars were never discovered as they entered the vault. They were never questioned during any inventory process or any other time during which people would be interacting with the gold bars. They just sat their being counterfeits that no one, I mean no one, ever questioned anything.
Word of the forged bars began to circulate quietly in gold industry circles after the first half of 2017, when JP Morgan, one of five banks which finalize trades in the $10 trillion-a-year London gold market, found that its vaults contained at least two gold kilobars stamped with the same identification number, ten people familiar with the matter told Reuters. Reuters couldn’t determine exactly where the vaults were.
JP Morgan declined to directly address questions about the fraudulent bullion, or comment on any of the details in this story. “It’s our standard practice to immediately alert the appropriate authorities and refineries should we discover mismarked gold kilobars during routine checks and procedures,” the bank said in a statement. “Fortunately, we have yet to have an incident resulting in a loss to the firm or a client.”
The Shanghai Gold Exchange, which regulates China’s gold market, said in a statement it was not aware of counterfeit bars being made in or transported through China. “The Shanghai Gold Exchange has established a thorough delivery and storage system. The process for gold (material) to enter the warehouse is strictly managed and in compliance with the regulations,” it said.
When others who store and trade such gold found forged bars, they returned them to the refiner concerned, some of whom have operations in Asia. Bars returned to Switzerland have been reported by refiners to the Swiss authorities who impounded them, refiners said. Source
I guess we are all just suppose to be frightened and never, ever even consider acquiring what is becoming the global standard in gold bars. These criminals will stop at nothing to keep people dis-interested in gold; especially physical gold held by individuals. Physical gold is the anti-dollar and strikes at the heart of the power source for these mafia crime syndicates like JP Morgan.
We can only pray that during the second term of President Trump the following comes to fruition:
What else can be said, other than, we can only hope the Executive Order (EO) President Trump signed is put to good use against these criminal organizations. The general consensus is Executive Order 13818 – Blocking the Property of Persons Involved in Serious Human Rights Abuse or Corruption – was signed with Obama and Clinton in mind, but it could very easily be used against the too big to jail crime syndicates called banks. – Too Big to Jail Banks Crime Spree Continues
If my budget allowed I would order a kilo bar today just to let these satanic globalist know their lies didn’t work and how much trust I have in gold.