Australian Politics Forum - China's State Banks Selling Fake Gold and Money

MeisterEckhart Gold Member Offline Australian Politics Posts: 14392 Gender:	Re: China's State Banks Selling Fake Gold and Money Reply #30 - May 18^th, 2025 at 10:56am Since 2021, the Perth Mint guarantees that its gold products now contain 99.996% gold - above the 99.99% standard.
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chimera Gold Member Offline Australian Politics Posts: 13022 Armidale Gender:	Re: China's State Banks Selling Fake Gold and Money Reply #31 - May 18^th, 2025 at 11:35am 'Examples of Metal Ingot Costs: Pewter: $50 per 1 kg according to eBay Tin: $155 to $159 per 1 kg according to Great White Bullion Copper: $59 per 1 kg according to United Nuclear'. Say $60 ingot Bismuth, that's $30,000 off the $40,000. 先生側身說話
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MeisterEckhart

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Re: China's State Banks Selling Fake Gold and Money
Reply #32 - May 18^th, 2025 at 11:46am

chimera wrote on May 18^th, 2025 at 11:35am:

'Examples of Metal Ingot Costs:
Pewter: $50 per 1 kg according to eBay
Tin: $155 to $159 per 1 kg according to Great White Bullion
Copper: $59 per 1 kg according to United Nuclear'.

Say $60 ingot Bismuth, that's $30,000 off the $40,000.
先生側身說話

Yep, well, Beijing makes the rules.

You'd be aware that China hoards all elements, even iron ore that it routinely over-purchases from Australia.

If the SGE is required to stockpile bismuth and whatever other elements Beijing is aware of that refiners have access to, then that's the requirements...

The current spot price of bismuth as of May 18, 2025, is USD145/kilo.

Beijing's rationale is, no doubt, it doesn't matter how cheap it might be, if you haven't hoarded it for when you need it, what difference does it make to rectifying delayed product manufacturing turnaround, even if it's cheap?

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chimera Gold Member Offline Australian Politics Posts: 13022 Armidale Gender:	Re: China's State Banks Selling Fake Gold and Money Reply #33 - May 18^th, 2025 at 11:51am You speak with much Chinese and know trades money lot well.
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thegreatdivide

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Re: China's State Banks Selling Fake Gold and Money
Reply #34 - May 18^th, 2025 at 2:18pm

MeisterEckhart wrote on May 18^th, 2025 at 7:31am:

This is the reason you should NEVER buy goods of high value from China.

China’s State Banks Sell Fake Gold and Fake US Dollars

https://www.youtube.com/watch?v=coJp14Xdchs

Meister quoting a youtube channel hosted by 'China Observer' which in a discussion (on Reddit) included this observation:

"I consider this channel to be the equivalent of Fox News. It kind of traffics in horrors about China, but it seems too biased against China. Most of the time, the voiceover translations don't match what the people interviewed are actually saying."

Meanwhile BYD is taking the world by storm...

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MeisterEckhart

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Re: China's State Banks Selling Fake Gold and Money
Reply #35 - May 18^th, 2025 at 2:43pm

thegreatdivide wrote on May 18^th, 2025 at 2:18pm:

MeisterEckhart wrote on May 18^th, 2025 at 7:31am:

This is the reason you should NEVER buy goods of high value from China.

China’s State Banks Sell Fake Gold and Fake US Dollars

https://www.youtube.com/watch?v=coJp14Xdchs

Meister quoting a youtube channel hosted by 'China Observer' which in a discussion (on Reddit) included this observation:

"I consider this channel to be the equivalent of Fox News. It kind of traffics in horrors about China, but it seems too biased against China. Most of the time, the voiceover translations don't match what the people interviewed are actually saying."

Meanwhile BYD is taking the world by storm...

So Chinese banks are not selling fake gold, then.

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thegreatdivide

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Re: China's State Banks Selling Fake Gold and Money
Reply #36 - May 18^th, 2025 at 3:59pm

MeisterEckhart wrote on May 18^th, 2025 at 2:43pm:

thegreatdivide wrote on May 18^th, 2025 at 2:18pm:

MeisterEckhart wrote on May 18^th, 2025 at 7:31am:

This is the reason you should NEVER buy goods of high value from China.

China’s State Banks Sell Fake Gold and Fake US Dollars

https://www.youtube.com/watch?v=coJp14Xdchs

Meister quoting a youtube channel hosted by 'China Observer' which in a discussion (on Reddit) included this observation:

"I consider this channel to be the equivalent of Fox News. It kind of traffics in horrors about China, but it seems too biased against China. Most of the time, the voiceover translations don't match what the people interviewed are actually saying."

Meanwhile BYD is taking the world by storm...

So Chinese banks are not selling fake gold, then.

Few foreigners buy gold from Chinese banks, what's the problem?

Meanwhile Trump is promoting crypto - talk about 'fake money'!

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MeisterEckhart

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Re: China's State Banks Selling Fake Gold and Money
Reply #37 - May 18^th, 2025 at 8:58pm

thegreatdivide wrote on May 18^th, 2025 at 2:18pm:

Meanwhile BYD is taking the world by storm...

Yep, and taking online car review sites by storm... to complain about poor quality, electrical/ mechanical failure, abysmal customer service and eternal waiting periods for replacement parts.

Cha bu duo affects all mass-produced Chinese-made goods... It's baked into their psyche... and they're not likely to ever learn from it the way the Japanese did.

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MeisterEckhart

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Re: China's State Banks Selling Fake Gold and Money
Reply #38 - Yesterday at 10:36am

MeisterEckhart wrote on May 18^th, 2025 at 9:14am:

Ai_Took_Our_Jobs wrote on May 18^th, 2025 at 9:06am:

Perth Mint sold diluted gold to China, got caught, and tried to cover it up

The historic Perth Mint is facing a potential $9 billion recall of gold bars after selling diluted or "doped" bullion to China and then covering it up, according to a leaked internal report.

abc

No, it didn't.

It sold 99.99% gold to the Shanghai Gold Exchange with 0.01% Silver, which is the standard delivery.

The SGE wanted 99.99% gold with 0.005% Silver and 0.005% Bismuth so when they remelted the gold, they could cream off Bismuth which they could sell to Chinese industrial manufacturers.

The Chinese banks, the SGE, and all other Chinese gold bullion dealers, and every other bullion dealer in the world, hold the Perth Mint in the highest regard for guaranteed 99.99% gold products... The ABC... not so much.

The Perth Mint's production and delivery of 99.996% gold products ends specific customer requirements for their 0.01% elements preference.

If you buy gold from the Perth Mint, you get the guaranteed purest gold of any mint worldwide.

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