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Suspect Gold Rushes Into Global Markets After Major Refinery Breaches Guidelines

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http://www.theguardian.com/business/2014/feb/25/conflict-gold-global-market-trading-kaloti

Hundreds of millions of dollars' worth of suspect gold has poured into the global markets amid major breaches in new international rules designed to tackle an underground trade linked to African warlords and human rights abuses.

Confidential papers shown to the Guardian by a whistleblower detail how, in 2012, one of the world's biggest gold refineries ignored guidelines designed to stop the trade in so-called "conflict gold". It paid out more than $5bn in cash for the metal and accepted gold from more than 1,000 customers walking in off the street with no paperwork.

While there is no evidence that the refinery accepted conflict gold, major breaches in new guidelines were uncovered, raising concern about the history of huge volumes of shipments.

Details of the damning findings have not been spelled out in full in public documents, but have been uncovered in a Guardian investigation. The leaked papers are also being reported by BBC2's Newsnight, Al Jazeera and campaign group Global Witness.

So you can't even trust gold may not be worth it's weight in gold....

The entire global financial system is rotten to the core.

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http://www.theguardi...-trading-kaloti

So you can't even trust gold may not be worth it's weight in gold....

The entire global financial system is rotten to the core.

There was nothing opaque about the gold traded in to the refinery..just the clients.

Gold is gold, pure and simple. It`s the worlds systems of means of exchange that are not worth what we are told they are worth.

Edited by GinAndPlatonic

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This is just a scam to increase the retail price. When you consider that, as Errol has said, Gold is Gold, then this is utter claptrap. There is nothing to label it except the sticker. If you want to be really pedantic, then most Silver knocking about has, at one time, been part of the electrical bus-bars used in the USA for making nuclear weapons technology. I think I can just about live with the shame, and if any tree-huggers have any Gold or Silver that they can't cope with owning, then they can post it to me or any of the others on this forum.

How about the adverts for expensive "green" Silver? Higher mark-up because it's recycled rather than "virgin". Hilarious that anyone would fall for the trick. Recycled should theoretically be less VAT and cheaper; but it never is, is it?

Some marketing genius has spotted the "conflict diamonds" issue (which is nearly as much of a scam, but at least an expert MIGHT be able to show the provenance) and thought it would be a great way to increase his market share. Claptrap, all claptrap. It may also be an attempt by the impending NWO to try to stop people selling their PMs after the big reset.

[Edited to add NWO tinfoil]

Edited by Old Nis

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