Rust discovered on Bank of Russia-issued 'gold' coins

Section:

11:50p ET Friday, July 16, 2010

Dear Friend of GATA and Gold:

Zero Hedge reports tonight about Bank of Russia-issued gold coins that have been found rusting, which gold doesn't do.

Zero Hedge concludes: "The Central Bank of Russia has been one of the biggest purchasers of gold in 2010, having bought gold every single month. It would be embarrassing if it were discovered that not only is the bank diluting the gold content with oxidizable materials, but subsequently passing it off for .999-proof precious metal. And if this is happening in Russia, one wonder what trickery other central banks, with a far lower amount of gold in their vaults, resort to."

Now that it seems to be in a journalistic mode again, maybe Reuters should ask the Bank for International Settlements if its recent gold swaps have anything to do with those Bank of Russia coins. Another refusal to comment from the BIS would be especially delightful right now.

You can find the Zero Hedge report here:

http://www.zerohedge.com/article/rust-discovered-bank-russia-issued-999-...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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