Sunday, January 17, 2010

Update: A Test For Gold Bars To Determine Hidden Tungsten

Back in November the story arose [See previous post HERE] that certain banking institutions had been astonished to discover that what had been thought to be gold bars were actually gold encased tungsten. These bars were difficult to identify as tungsten has an almost identical density as gold. This story seemed to emanate from one source and there has been little confirmation since November from banking institutions. There is no doubt that this fraud happens; we are uncertain about the extent of the fraud. There has been a continued run up in the price of gold and central banks have been adding to gold reserves in recent months. This doesn't contradict the story.
The fact that authorities haven't debunked the rumor by now is interesting.
Very little information has surfaced on this problem since the initial stories. Here is a report of a non-invasive analytical technique that would determine the validity of any gold object. There is little detail and it could be a scam, but here is the LINK.

Quote of the Day
When Kung-hsi Hua was sent on a mission to Ch'i, Master Jan requested (of Confucius who was  representing the government, the Ch'i family) an allowance of grain for Hua's mother.
The Master (Confucius) said, "Give her a fu." (cauldron, a nominal amount)
Jan requested more, deeming a fu not enough.
"Then give her a yi," (a measure, more, but still not enough to please Jan) said the Master.
Jan instead gave her five ping. (bundles, ten times what Confucius granted)
The Master observed, "When Ch'ih (Kung-hsi Hua) was proceeding to Ch'i, he had fine fat horses pulling his carriage, and wore shining furs."
"It is said that a gentleman, who is expected to be a superior man, helps the distressed, but does not enable the rich to become richer."

Confucius, The Analects, an amalgam and improvement (I hope) of various translations, primarily Legge and Waley, by John Bonanno

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