http://player.video.news.com.au/couriermail/#1367960548

Shoppers rein in spending this Christmas
Shoppers are thinking carefully before parting with their cash this festive season.
[02:47]
Sky News | 24 December 2009

It is good to see that Australians are finally thinking before they are spending on borrowed money. I, along with many other people, think that Australia will go into another deeper recession some time next year or the year after. The governments of Russia, China and India are making some real efforts to avoid the next recession or at least reduce the impacts that the recession will have on the economics of the mentioned countries. The three countries have bought millions of dollars of gold in order to prop up the value of their currencies. They have introduced new regulations and have spent hundreds of billions of dollars on public works programmes. All of the cash have stayed in those currencies. Earlier this year, China pumped 800 billion dollars into it's country. Needless to say, not one cent left China. But what has happened to the cash that Rudd has spent? Most of it has gone to India and China. Kevin Rudd is a total jerk. He has betrayed the country by borrowed massively and basically giving it to the Asians and other foreigners. He has failed to introduce new regulation but has only spoken of it. It is clear that he is under the control of the international bankers.

Over a million Australians are facing financial difficulties but yet the Rudd government is encouraging them to spend up and even borrow money. What kind of government would do that? Even the banks are encouraging people to borrow and spend. The Reserve Bank, which is a tool of the international capitalist-intelligentsia regime, has increased the official interest rate by 0.75% in the last year. But yet hundreds of thousands of Australians are having problems paying back their mortgages and credit card debts. The main banks have been increasing the interest rates well above the official Reserve Bank one. One has to wonder who exactly are the bankers and politicians serving? Because it is clear that they are not serving the interests of the Australian people.

I have read that early next year a global financial catastrophy will be caused when it becomes public knowledge that a large quantity of the gold bullion that has been sold to banks and governments is fake.
What has been happening (according to the report) is that ingots of tungsten have been gold plated and then passed off as gold bullion.
The atomic density is supposed to be the same as gold, therefore the weight is same.
Everything looks kosher (pardon the term) until one cuts into the ingot and discovers that under the very thin outer layer of gold there is tungsten.
If this report is correct, it would cause the greatest financial meltdown in human history.
Of course, we know who would be responsible for this and whose gold would be absolutely genuine. T.J.B.

So what you are saying, Derrick, is that the Chinese, Indians and Russians have been buying fake gold?

I have read that early next year a global financial catastrophy will be caused when it becomes public knowledge that a large quantity of the gold bullion that has been sold to banks and governments is fake.
What has been happening (according to the report) is that ingots of tungsten have been gold plated and then passed off as gold bullion.

Gld ETF Warning, Tungsten Filled Fake Gold Bars
Commodities / Gold & Silver 2009
Nov 12, 2009 - 12:22 PM
By: Rob_Kirby


“Gold Finger - A New Take On Operation Grand Slam With A Tungsten Twist”

I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:

1] - irregularities in the publication of the gold ETF - GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 pages to under 200 pages and then back up to 800 or so pages.

2] - reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong.

Why Tungsten?

If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it.

Unfortunately, there are now more sordid details to report.

When the news of tungsten “salted” gold bars in Hong Kong first surfaced, many people who I am acquainted with automatically assumed that these bars were manufactured in China – because China is generally viewed as “the knock-off capital of the world”.

Here’s what I now understand really happened:

The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].

This was apparently all highly orchestrated by an extremely well financed criminal operation.

Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.

And here’s what the Chinese allegedly uncovered:

Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.

http://www.marketoracle.co.uk/Article14996.html

So what you are saying, Derrick, is that the Chinese, Indians and Russians have been buying fake gold?

So it would seem.
Not sure how the Russians would be effected. Russia was and still is a huge gold producer.
The report in the post above this response sets out the tungsen fake scam pretty well.
Get a big raincoat, because the SHTF soon.