You are here
Bullion groups launch gold bar database to thwart fraud
By Peter Hobson
Reuters
Monday, March 28, 2022
LONDON -- Two gold industry associations are working with miners, refiners, traders, and shippers to create a database of gold bars in an effort to prevent trade in counterfeit metal and allow buyers of bullion to trace its origin, they said today.
The scheme aims to exclude gold linked to violence and crime from the mainstream market. Gold worth billions of dollars is mined each year in illegal conditions and large amounts are sold by groups including warlords and drug traffickers.
... Dispatch continues below ...
... ADVERTISEMENT ...
USA Gold: Coins and Bullion Since 1973
USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.
Please call 1-800-869-5115x100 and ask for the trading desk, or visit:
USAGold: Great prices, quick delivery -- all the time.
Reuters reported in 2019 that gold bars fraudulently stamped with the logos of major refineries were being inserted into the market to launder smuggled or illegal metal.
The London Bullion Market Association and the World Gold Council said companies including miners Barrick and Newmont, refiners Metalor and MKS PAMP, and shippers Brinks and Loomis would submit data to a pilot scheme that should eventually extend worldwide. ...
... For the remainder of the report:
https://www.reuters.com/business/bullion-groups-launch-gold-bar-database-thwart-fraud-2022-03-28/
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: