As Its Price Climbs, Gold Conspiracy Theories Abound

BERLIN - Whether it is its solidly high price per ounce or maybe even the end-of-year visit of Her Majesty, Elizabeth II, to view British gold reserves at the Bank of England, conspiracy theories are proliferating around gold – particularly as (or so rumor has it) some kilo bars appeared in Great Britain that were filled with virtually valueless wolfram.

Some insiders even believe that a large portion of Germany’s gold reserves are in fact gold-coated wolfram (tungsten) bars. The sheer values involved – a standard 12.44 kg gold bar is presently worth 500,000 euros – go a long way to explaining the stubborn attachment to theories such as these, the spread of which are aided considerably by the Internet, reports Die Welt.

The precious metal had another strong week, with gold's spot price closing Friday at $1,687 per ounce.

Eugen Weinberg, who heads commodities research at Germany’s Commerzbank, says that he is certain that – if indeed there are any tungsten-filled bars at all out there – the number of them is exceedingly small.

German theorists’ fears are particularly fueled by the fact that, according to the German Federal Bank itself, only part of German gold reserves are actually in Germany: the bank says that “a good two thirds” of the 3,396 ton German reserves worth 145 billion euros are not actually stocked inside the country.

Among the rumors accompanying the nearly two-year upward trend in gold prices is that key national treasuries – not least Fort Knox in the United States – have now actually been emptied out. Another fashionable conspiracy theory sees price manipulation of the precious metal by a powerful international elite that controls the market.

 

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Test Drills for Tungsten Is Expected to Start

There are fresh hopes Cornwall's mining industry could be revived.

Test drills for tin and tungsten near Callington and Indian Queens are expected to start this year.

Companies New Age Exploration Limited and Treliver Minerals have acquired the rights to carry explore deposits underneath Kelly Bray near Callington and Treliver Manor Farm near Indian Queens respectively.

Similar work searching for tin, copper and zinc has already been carried out at South Crofty Mine in Camborne.

Chris Rogers, Mining Consultant for Redruth-based firm Cornwall Consultants, said: "It's to do with the economic heritage of the county, and obviously the future possible employment and wealth that might come from mining these deposits locally, and the benefit to the local communities.

"Obviously if they did find things, they'd have to go through mining and planning leases. They'd have to look at environmental constraints, they'd have to look at processing constraints, and the general viability of the deposits in these areas."

 

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Business Groups Fully Brief “Conflict Minerals” Legal Challenge

Several business groups challenging new rules that require companies to disclose whether their products contain minerals blamed for fueling violence in Africa said Wednesday regulators hadn’t adequately analyzed the rules’ impact.

The groups said in court papers that the Securities and Exchange Commission had itself admitted it didn’t know if the rules would benefit the people of the Democratic Republic of the Congo and its surrounding region, the stated intent of Congress in creating the provision.

“Thus, the Commission violated its statutory obligations to apprise itself of the costs and benefits of the rule and the available regulatory alternatives before saddling U.S. public companies with billions of dollars in regulatory burdens,” the groups said. “This failure of analysis infects the entire rule.”

The U.S. Chamber of Commerce, the National Association of Manufacturers and the Business Roundtable asked the U.S. Court of Appeals for the District of Columbia Circuit to vacate the “conflict-mineral” rules in October. The groups fully explained their arguments for the first time on Wednesday in a 75-page brief.

UPDATE: John Nester, a spokesman for the SEC, defended the Commission’s analysis in an email.

“We believe our legal interpretation and economic analysis are sound, and we look forward to defending the rule that Congress directed us to write,” Nester said.

The “conflict minerals” rules, which were mandated by the 2010 Dodd-Frank financial overhaul, have been a source of friction between the SEC and companies ever since the law was passed. Under the current rules, U.S.-listed companies are required to disclose whether their products have been manufactured with any tantalum, tin, gold or tungsten used to finance violence in central Africa.

Companies have said the requirement would be burdensome and expensive. In August, the SEC estimated the rules would cost companies a total of $3 billion to $4 billion upfront to comply, plus more than $200 million a year. The SEC also estimated around 6,000 U.S. and foreign companies would have to comply with the conflict-minerals rules, affecting manufacturers of a range of products, including smartphones, light bulbs and footwear.

On Wednesday, the groups said that the SEC’s estimates are actually low, and that a financial burden of that size shouldn’t be imposed without determining whether the rules will yield any benefits. The SEC’s lack of analysis, according to the groups, violates the Administrative Procedure Act and the agency’s heightened obligation under the Securities Exchange Act of 1934 to analyze the economic impact of its rules.

The groups also argued that the rules violate companies’ First Amendment rights by compelling them to publicly state their products are “not DRC conflict free,” that is, they contain conflict minerals.

“Even worse, this compelled disclosure will frequently be false,” the groups argued. “Many of the companies forced to make it will not be manufacturing products containing minerals that funded armed groups. Rather, the companies will simply be unable to trace their supply chains to determine the minerals’ origins.”

 

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Appeal Hearing Set on Gravel Pit Permit

Boundary County Commissioners will hold a public hearing at 9 a.m. Tuesday, February 19, n the conference room of the Extension Office behind the Boundary County Courthouse, to accept public comment on two appeals of Conditional Use Permit 11-063 granted Tungsten Holdings, Inc., to operate a gravel pit on a seven acre parcel, RP65N01W200150A, located 1.6 miles south of Porthill on the Farm to Market Road.

Patrick and Ada Gardiner and Bryan and Sara Ferguson are appealing the decision of the Boundary County Planning and Zoning Commission to grant that permit in a continuing battle that's been going on since 2005.

The application was initially submitted that year as a special use permit, and county commissioners, imposing several conditions and restrictions, overruled the planning and zoning commission's recommendation to deny the permit, granting approval and allowing the pit to go into production.

Pat and Ada Gardiner, cattle breeders who operate near the site, filed an appeal, citing, among other things, potential adverse effects to their herd as well as the potential damage to their water wells caused by blasting.

That appeal went all the way to the Idaho Supreme Court, which ruled in favor of the Gardiners, not so much on the merits of there case but because of inadequacies in the county zoning ordinance in effect at the time, which made no specific mention of gravel pits, but allowed consideration of any use proposed that was not a use by right, permitted use or conditional use as a special use. The Supreme Court ruled that the language was too vague to constitute meaningful land use planning and overturned the commissioner's decision on the permit and shutting down operation of the pit.

At the time, work was already underway on drafting a new county comprehensive plan and zoning ordinance, in which the placement of gravel pits and mines in the various zones were spelled out. In the agriculture/forestry zone district, which the parcel in question is zoned, such use was listed as a conditional use. Shortly after the new ordinance was adopted, Tungsten Holdings again made application, and the planning and zoning permit was approved, despite the same objections by the Gardiners and additional objection from Bryan and Sara Ferguson, who had purchased a 10-acre residential lot from Tungsten Holdings near the site and built a home based on perceived assurances in covenants and restrictions that attached to their land that no such use would be allowed in the un-platted subdivision developed by Tungsten around the pit subsequent to the initial issuance of the special use permit.

Further information on this application is available at the Planning and Zoning Office, Room 16 of the Courthouse, and the application and appeals are available for public review.

 

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Wolf Minerals – Reactivating Tungsten Mining in England

Hunter Hillcoat is a mining analyst with Investec Securities in London. Before Investec, Hillcoat spent 7 years as an analyst with the Austock Group, as a resources analyst. Hillcoat has a BSc Honors in Geology from the University of the Witwatersrand in Johannesburg and an MBA from Curtin University of Technology. Investec recently revised their buy rating price target for Wolf Minerals Limited to 29.4p down from 31.6p.

Tungsten Investing News recently talked with Hillcoat regarding his coverage of Wolf Minerals. Wolf trades on the London exchange under WLFE and on the ASX under WLF.

Tungsten Investing News:  Your target price for Wolf dropped very slightly despite the company’s recent positive

Read more...

U.S. Business Groups Challenge SEC Rule on Congo Conflict Minerals

WASHINGTON, Jan 16 - Business groups on Wednesday filed their most expansive case yet attacking a new U.S. securities rule that requires companies to determine if their products contain minerals from the war-torn Democratic Republic of Congo.

The lawsuit is one of several challenging rules from the Securities and Exchange Commission, including those mandated by the 2010 Dodd-Frank financial regulatory overhaul.

The National Association of Manufacturers, the U.S. Chamber of Commerce and Business Roundtable filed notice of their lawsuit last November but did not explain their case until Wednesday.

The groups based much of their case on an argument that has helped them win similar cases -- that the SEC did not adequately weigh the rule's costs and benefits before approving it, as rule-making procedures require.

In a brief filed in Washington federal appeals court, the groups said the SEC never determined whether the rule would provide any benefits to the people in Congo, and also estimated the rule could impose $3 billion to $4 billion of initial compliance costs on American businesses.

The groups echoed commission members who voted against the rule and said: "good intentions are no substitute for rigorous analysis, and the Commission's analysis here was woefully inadequate."

The groups also challenged several specific provisions of the rule, including one under which the SEC declined to grant exceptions for trace amounts of the minerals, which include gold, tin, tantalum or tungsten. Such minerals are used in everything from cans to cell phones and computers to medical equipment.

In approving the rule in August, the commission said it concluded it lacked the authority to adopt such an exception.

The groups said the rule also violated the First Amendment by requiring companies to disclose that certain of their products are "not DRC conflict free." Such a rule would compel companies to make "misleading and stigmatizing public statements linking their products to terrible human rights abuses," the groups said.

The SEC has until March 1 to file a response, according to the court docket.

 

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New Copper-Gold Discovery on Kope Scheelite Project

RENO, Nev., Jan. 16, 2013 -- Infrastructure Materials Corp. (the "Company") is pleased to announce a new copper-gold discovery at its Kope Scheelite Project (the "Project") in Nevada. The Company's wholly owned subsidiary, Silver Reserve Corp., has completed a preliminary review of assay and geochemical data from reverse circulation drilling on the Project to further delineate the potential of gold, copper, silver and lead mineralization on the Project.

Drilling has identified copper and gold mineralization hosted both in the intrusive and in adjacent sediments. In addition to those elements reported in this news release, a complex suite of anomalous elements including antimony, bismuth, cobalt, cadmium, gallium, germanium, molybdenum, indium, selenium, tellurium, tin and tungsten were found to form zones in and surrounding the mineralization.

About the Kope Scheelite Project

The Project consists of 101 mineral claims located in Mineral County, Nevada, approximately 11 miles northeast of the town of Mina. Previous exploration efforts include recent Time Domain Electro-Magnetic ("TDEM") surveys that offered evidence of the presence of conductive structures on the Project with potential mineralization present within a porphyry system.

The Kope Scheelite Project is located in the Walker Lane, a structural belt which prolifically hosts many significant deposits, including Nevada Copper Corp.'s recently developed Pumpkin Hollow deposits (total Measured and Indicated copper resource of 3.1 billion kilograms (6.8 billion pounds) for the combined Western and Eastern Deposits (Western Open-Pit Deposits: 664 million tonnes, averaging 0.37% Cu with a 0.15% cutoff; and Eastern Underground Deposits: 45.9 million tonnes averaging 1.45% Cu with a 0.75% cutoff - news release dated October 19, 2012).

Infrastructure Materials Corp. believes the Pumpkin Hollow deposits are an analogue for the copper mineralization at the Company's Kope Scheelite Project. Initial exploration appears to indicate that the Kope Scheelite Project may have some higher grade gold mineralization that in places differentiates it from the mineralization style at Pumpkin Hollow. Pumpkin Hollow and the nearby Yerington mine are located approximately 100km (60 miles) northwest of the Kope Scheelite Project. The historical Yerington mine, operated by Anaconda from 1953 to 1978, produced more than 147 million tonnes (162 million tons) of ore grading 0.6% copper.

 

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Deer Horn Reports a Harrison Scheelite Zone

Vancouver, British Columbia CANADA, January 16, 2013 - Deer Horn Metals Inc.is pleased to inform its shareholders of two recent developments. Firstly we have received results from a 10-day prospecting program completed on the Deer Horn property, located in West Central British Columbia approximately 36 kilometers south of the Huckleberry Mine. Secondly we have hired Moose Mountain Technical Services (MMTS) to produce a Preliminary Economic Assessment (PEA) of the Deer Horn property.

The helicopter-supported program took place from September 9 - 19, 2012.  It evaluated several gossanous areas and ground-truthed a number of geophysical anomalies that were identified during a detailed assessment of 2011 airborne magnetic and radiometric survey data.  Prospecting also evaluated the potential western extension of the Main Vein and Contact Zone gold-silver-tellurium vein system and areas in the vicinity of historic Harrison tungsten mineral occurrence. 

Harrison Scheelite Zone

Sampling of newly recognized tungsten mineralization from the historic Harrison Scheelite occurrence, centered approximately 680 m southwest of Lindquist Peak, produced encouraging results.  Composite chip samples were collected from bedrock exposures that included bands of disseminated scheelite crystals within calc-silicate altered tuffaceous limy siltstones.  Samples grade up to 4750 ppm W (0.60% WO3).  The style of mineralization is similar to that observed in the footwall of the Contact Zone. Several 2011 drillholes, collared more than 650 m to the east of the 2012 surface showings, intersected scheelite-bearing, calc-silcate altered limy volcanic sediments, including DH11-119 that encountered 3.00 m averaging 0.23% WO3.  The new showings also occur upslope and at least 170 m northwest of the areas trenched in 2011 where sample results included 6 m averaging 1.08% WO3. 

 

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Engineer Making Rechargeable Batteries with Layered Tungsten Disulfide Nanomaterials

MANHATTAN, Kan. -- A Kansas State University researcher is developing more efficient ways to save costs, time and energy when creating nanomaterials and lithium-ion batteries.

Gurpreet Singh, assistant professor of mechanical and nuclear engineering, and his research team have published two recent articles on newer, cheaper and faster methods for creating nanomaterials that can be used for lithium-ion batteries. In the past year, Singh has published eight articles -- five of which involve lithium-ion battery research.

"We are exploring new methods for quick and cost-effective synthesis of two-dimensional materials for rechargeable battery applications," Singh said. "We are interested in this research because understanding lithium interaction with single-, double- and multiple-layer-thick materials will eventually allow us to design battery electrodes for practical applications. This includes batteries that show improved capacity, efficiency and longer life."

For the latest research, Singh's team created graphene films that are between two and 10 layers thick. Graphene is an atom-thick sheet of carbon. The researchers grew the graphene films on copper and nickel foils by quickly heating them in a furnace in the presence of controlled amounts of argon, hydrogen and methane gases. The team has been able to create these films in less than 30 minutes. Their work appears in the January issue of ACS-Applied Materials and Interfaces in an article titled "Synthesis of graphene films by rapid heating and quenching at ambient pressures and their electrochemical characterization."

In a second research project, the researchers created tungsten disulfide nanosheets that were approximately 10 layers thick. Starting with bulk tungsten disulfide powder -- which is a type of dry lubricant used in the automotive industry -- the team was able to separate atomic layer thick sheets of tungsten disulfide in a strong acid solution. This simple method made it possible to produce sheets in large quantities. Much like graphene, tungsten disulfide also has a layered atomic structure, but the individual layers are three atoms thick.

The researchers found that these acid-treated tungsten disulfide sheets could also store and release lithium ions but in a different way. The lithium is stored through a conversion reaction in which tungsten disulfide dissociates to form tungsten and lithium sulfide as the cell is discharged. Unlike graphene, this reaction involves the transfer of at least two electrons per tungsten atom. This is important because researchers have long disregarded such compounds as battery anodes because of the difficulty associated with adding lithium to these materials, Singh said. It is only recently that the conversion reaction-based battery anodes have gained popularity.

"We also realize that tungsten disulfideis a heavy compound compared to state-of-the-art graphite used in current lithium-ion batteries," Singh said. "Therefore tungsten disulfide may not be an ideal electrode material for portable batteries."

The research appeared in a recent issue of the Journal of Physical Chemistry Letters in an article titled "Synthesis of surface-functionalized WS2 nanosheets and performance as Li-ion battery anodes."

Both projects are important because they can help scientists create nanomaterials in a cost-effective way. While many studies have focused on making graphene using low-pressure chemical processes, little research has been tried using rapid heating and cooling at atmospheric pressures, Singh said. Similarly, large quantities of single-layer and multiple-layer thick sheets of tungsten disulfide are needed for other applications.

Singh plans future research to study how these layered nanomaterials can create better electrodes in the form of heterostructures, which are essentially three-dimensional stacked structures involving alternating layers of graphene and tungsten or molybdenum disulfide.

 

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Gold Except Tungsten Fake Gold Distribution in the World

Gold - Visualized in Bullion Bars

There's surprisingly little Gold in the world & this info graphic shows all the Gold ever mined. In this Gold info graphic everything is calculated with Gold price at $2000/oz. When Gold reaches $3110/oz, 1 oz of Gold & a $100 bill will have equal value in weight, and it won't matter if you have 1oz of $100 bills or 1oz of Gold. Gold is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.

Gold - Size Chart

This is a chart of standard Gold bullion size comparison. The cubes are measured by volume & Gold weight of 19.30 g/cm−3. The plates are typical Gold bar dimensions of same Gold weight.

400 Troy Oz of Gold 999.9 Fine Bullion Bar

The Gold bar to below is worth the $800,000 displayed on the left at $2000/oz.

The Gold bar weights 12.44 kg, 27.42lbs or more than
3x 1-gallon milk jugs - quite heavy.

As an investment, Gold has out performed Dow Jones for last 8 years straight.

 

 

 

 

 

 

 

 

 

 

 

 

1 Ton of Gold

The 1 ton of Gold is worth $64.3 Million dollars at $2000/oz.

Gold has gone from $18.92 in 1911 to over $1,700 in 2012, the price of Gold has inflated more than 9,000%
In recent times, Tungsten (heavy 'cheap' metal) filled fake Gold bars, which look like the ones above, have been found in Manhattan.
Such tungsten fake bars can be even be ordered from tungsten-alloy.com & chinatungsten.com.
The Bank of England's Gold Reserves can be seen in this video.

Statement from Chinatungsten Online: Chinatungsten Online (Xiamen) Manu.&Sales Corp. is a very professional and serious company, specializing in manufacturing and selling tungsten alloy related golden-plated products for more than two decades. Our gold-plated tungsten alloys are only for souvenir and decoration purpose. We can provide different kinds of tungsten alloy golden-plated products according to your requirements. Here we declare: Please do not use our tungsten gold-plated or tungsten alloy golden-plated products for illegal purpose.

A Chevrolet Silverado 2500 Truck full of Gold

This is how much Gold the average man could haul in his truck without braking the suspension.
Max carrying weight of the truck is 3670 lbs = 1664.68kg, which is the weight of the Gold you see in the truck bed - 133x 400oz bullion bars of Gold.
The value of the 1.66 tonnes of Gold at $2000/oz is displayed to the left at $106.4 Million dollars.

10 Tonnes of Gold vs 100 Tonnes

The Central Banks of western countries usually handle their nations' large Gold Reserves. Couple generations ago the US dollar was backed by Gold, so the Fed had to hold Gold. Today, the dollar is backed by the confidence in United States' repayment of its debt (bonds). The US Central Bank's- The Federal Reserve's Chairman Ben Bernanke, says that Gold is only held as a tradition and that Gold is not money

Semi Truck 'full' of Gold - 24.88 Tonnes

The legal carry weight of a semi-truck is between 22-25 tonnes.
The truck is carrying 24.88 tonnes of Gold worth $1.6 Billion dollars @ $2000/oz (on the 2nd truck).

$2,130,952,380 = B2 Bomber = 33.14 Tonnes of Gold @ $2000 / oz

Couple years back when Gold was less valuable, a B2 Bomber was literally worth more than its weight in pure Gold. With the price of Gold going up, finally Gold is more valuable in weight than a B2 Bomber.
The Northrop Grumman B2 Spirit Bomber program cost $44.75 Billion for a total of 21 units built, that averages to $2,130,952,380 per unit and the same value in Gold @ $2000/oz can be seen on the semi-trucks on the right. To the left you see a Semi truck with $2.13 Billion dollars.
Doesn't matter how you choose economically between the semi truck of cash, the Gold trucks or the B2 Bomber, they're all worth the same.

US Gold Reserves - 8,133.5 Tonnes

The 8,133.5 Tonnes of Gold Reserves have an official book value worth $11,041,059,958
($11 Billion) as of 1/11/2013 and are shown below.

Year 1933, in the Pillar of Human Civilization & Capitalism-- The United States of America, Gold possession was criminalized. Shortly after confiscating the Gold, the US devalued Gold from $20.67/oz to $35/oz, by so devaluing the US dollar by 70% overnight. The US Dollar 'Federal Reserve Note' still said "Redeemable in Gold", while doing so got you arrested. USA was on the Gold Standard until 1971. Gold possession remained illegal until 1975.

The arguably real intention of criminalizing Gold was because the Federal Reserve printed too many dollars, backed by a limited amount of Gold. People knew Gold was worth more than the $20.67/oz that US Government was 'redeeming' (selling) Gold at.

World Government Gold Reserves

This Gold values shown are official numbers from Wikipedia.
There is a strong chance the numbers are inaccurate since western world's Central Banks have purportedly leased out the Gold reserves while using accounting tricks to hide the facts, in order to push the Gold price down. Gold price is an indirect indicator of economic stability, the lower the price, the more stable the global economy appears.

Developing countries have been buying significant amounts of Gold in recent years, with India being #1 and China #2.

The Federal Reserve Bank of New York holds 540,000 Gold bars. Germany stores 45% of their Gold with Federal Reserve, while according to official memo from Bank of England to Federal Reserve it is acknowledged that Gold delivered back to Germany has been 'bad delivery' bars, instead of 'good delivery'. Germany & Switzerland are concerned and are interested in getting the Gold they store w/ the Fed, back home

A German court has recently demanded audit of Germany's Gold holdings, while the Central Bank of Germany has begun shipping 50 tonnes of Gold / year back home.

Many other governments are engaging in Gold hoarding, including China,who imported more Gold in 2012 than all of ECB's holdings.

This page is from Demonocracy Info.

 

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