Most of us have already figured out that our money isn’t real (NOTE: Subscribers can still listen to this show). Manhattan gold merchant Ibrahim Fadl discovered this we he found that several 10-ounce gold bars, normally worth around $100,000, were counterfeits filled with tungsten, a much less valuable metal that has the same weight as gold. This immediately dropped their worth 80%.
The gold trader became suspicious and drilled into one of the bars. According to Fox 5 News, this is a "sophisticated operation," in which "a real gold bar is purchased with the serial numbers and papers, then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up." Tungsten-filled gold bars were found in the UK in March, raising the suspicion that this an international conspiracy (NOTE: Subscribers can still listen to this show too).
Meanwhile, Russia has unveiled a huge new cache of diamonds in (of all places) a huge Siberian meteorite crater, but since they’re not jewelry-quality stones, they’re relatively worthless. Did they arrive from space?
MSNBC reports that "the deposit was discovered by Soviet scientists in the 1970s, but was left unexplored as the Soviet leadership opted for producing synthetic diamonds for industrial use. The deposit remained classified until after the Soviet collapse."