Cornel West: “He posed as a progressive and turned out to be counterfeit. We ended up with a Wall Street presidency, a drone presidency”

http://www.salon.com/2014/08/24/cornel_west_he_posed_as_a_progressive_and_turned_out_to_be_counterfeit_we_ended_up_with_a_wall_street_presidency_a_drone_presidency/

One Of The Most Terrifying Predictions For The Year 2014

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/24_One_Of_The_Most_Terrifying_Predictions_For_The_Year_2014.html

Ron Paul Is Currently Holding A Hearing On Legislation For A Full Audit Of US Gold Reserves, Aka The "Show Me The Tungsten" Bill

Those who called me a conspiracy theorist can eat their Federal Reserve Notes (i.e., dollar bills) now.

http://www.zerohedge.com/article/ron-paul-currently-holding-hearing-legislation-full-audit-us-gold-reserves-aka-show-me-tungs

For those who don't understand the tungsten reference, counterfeit "official" gold bars have been discovered by Chinese officials and German assayers.  The fake gold bars were filled with tungsten and coated with gold--undetectable without sophisticated screening equipment, since tungsten has the same density as gold.

See <here>, <here>, and <here>.  And yes, you should have been reading these blogs years ago, because you would be sitting on a healthy profit today if you had.

The Counterfeit Economy

http://www.oftwominds.com/blogmar11/counterfeit2-11.html

Counterfeit coins from China turning up in Wash. state

I witnessed some fake gold Chinese panda coins last year.  Even the numismatist who owned them was fooled.  As always, caveat emptor.

http://www.komonews.com/news/local/115789384.html

Central Bank steps up its cash support to Irish banks financed by institution printing own money

http://www.independent.ie/business/irish/central-bank-steps-up-its-cash-support-to-irish-banks-financed-by-institution-printing-own-money-2497212.html

The Irish Independent learnt last night that the Central Bank of Ireland is financing €51bn of an emergency loan programme by printing its own money.

Without the European Central Bank's approval, that sounds suspiciously like Ireland is resorting to counterfeiting its own currency.   Sure, it's only a "small" amount:  roughly 50 billion Euros.

By contrast, the Fed has created trillions of USDollars out of thin air in just the last 2 years.  With municipalities and states teetering in insolvency, one has to wonder when the madness will ever stop.

Beware of fake gold bullion

With the decade-long surge in gold prices, it's inevitable that gold counterfeits are proliferating. Some conspiracy theorists believe even official central bank gold inventories include tungsten, which has the same density as gold, and therefore harder to detect when embedded inside gold bullion bars.

Since the largest central bank of all--the Federal Reserve Bank, has not had an independent audit since 1953, who knows how much gold resides in Ft. Knox and the official US government mints. Add to the list of suspicious gold inventories at the COMEX and LBMA vaults, as well as the gold ETF's, which are allegedly backed by physical gold.

There is a growing disconnect between the countervailing forces for pricing: paper gold contracts are constantly sold short by the bullion banks in futures exchanges, while demand for physical demand remains high, propping up prices. Something has to give, and it will eventually.

Meanwhile, watch this video on how tungsten-filled gold bullion is detected.

http://www.youtube.com/watch?v=ZKczs-7BFRI

According to jsmineset.com:

BullionAnalysis LLC has developed a technological application that is unique to the precious metals market, for the purpose of determining if your bullion has been counterfeited by including tungsten alloy. This technology is completely safe and non-destructive to the precious metal, and will be effective on everything from fractional ounce coins all the way up to the full size 100, 400 and 1,000 ounce COMEX bars of gold and silver.

Their technological application has been developed in response to the growing threat to the bullion community from tungsten/lead alloy adulteration. Tungsten (19.25 g/cm3 density) has a density nearly identical to gold (19.32 g/cm3 density), and lead (11.35 g/cm3) will have a density very close to pure silver (10.45 g/cm3). Lead can also be alloyed with lighter elements to match even closer the density of silver. The threat arises from unscrupulous individuals and possibly institutions that have been removing precious metal from the center of bullion bars and replacing it with tungsten or lead alloy. Modern computer-aided machine tools are then used to seamlessly re-smooth the surface of the bullion product to hide any trace of the theft that has just happened.

Traditionally, the use of a density calculation (mass divided by volume) has been the solution to verify the assay purity of bullion. Unfortunately the insidious use of tungsten and other alloys that match the densities of gold and silver make this test completely useless for this type of problem.

Their new detection technologies are unique to the bullion market. They can detect tungsten/lead and other impurities and cavities that are hidden at any depth inside the bullion product and it is 100% completely non-destructive and safe.

In addition, they are able to produce tamper-resistant holographic-sealed assay certificates with the analysis results for the bullion item, that bear a digital image of the bullion product and show the serial number and hallmark if present. These tamper-resistant assay certificates could then trade with the bullion product and give both buyers and sellers a sense of real security.

At the present time they are focusing their efforts on delivering this service to depositories and institutions and plan to expand their services to cover retail gold and silver investors in the near future.

Buyer beware

Since tungsten has the same density as gold, some counterfeit gold bars and coins have been minted. Caveat emptor.

http://www.tungsten-alloy.com/en/alloy11.htm

Time to look up Merriam-Webster Dictionary

Out of curiosity, I looked up the definition of "counterfeiting". According to Merriam-Webster:

counterfeit - to imitate or feign especially with intent to deceive ; also : to make a fraudulent replica of.

The Federal Reserve Bank and US Treasury are printing dollars out of thin air, at an alarming rate. They've done so repeatedly. How is this any different from counterfeiting?

In fact, since the Federal Reserved Bank was formed in 1913, the dollar has declined 97% in value. In other words, today's $1 bill is equivalent to $0.03 almost 100 years ago.

Meanwhile, an ounce of gold 5,000 years ago got you some nice threads. Today, it still enables you to get a nice suit. The US Dollar? Not sure you can get a brand new Calvin Klein suit for $15 these days.

Deficit spending is essentially government-sanctioned counterfeiting. And as Milton Friedman correctly surmised, "Inflation is taxation without legislation."