Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

forgery crisis roiling worlds gold industry... *LINK*

Hmmmm...I got some gold...it weighs in at exactly the same weight as lead. I mined it from the Mine de Car LeBatry in my backyard. It kinda looks like lead, except for the coating of a rare substance called Rust Oleum de Aupaint. Looks as good as any gold out there. Just don't scratch it to deep.

Selling it cheap for a guaranteed future price of 1800 dollars an oz.

I think some of mine might have even slipped into the supply described below...I just don't think they've found mine because they'd have a lot more to worry about than a forged stamp.

"A forgery crisis is quietly roiling the world’s gold industry.

Gold bars fraudulently stamped with the logos of major refineries are being inserted into the global market to launder smuggled or illegal gold, refining and banking executives tell Reuters. The fakes are hard to detect, making them an ideal fund-runner for narcotics dealers or warlords.

In the last three years, bars worth at least $50 million stamped with Swiss refinery logos, but not actually produced by those facilities, have been identified by all four of Switzerland’s leading gold refiners and found in the vaults of JPMorgan Chase & Co., one of the major banks at the heart of the market in bullion, said senior executives at gold refineries, banks and other industry sources."