Overstock.com Has $10 Million In Gold And Silver Hidden Somewhere In Utah
from: http://consumerist.com/
The online retailer is hoarding gold and food to keep its employees paid and fed if the financial system collapses.

Adding Value To The World, one Post At A Time
from: http://consumerist.com/
The online retailer is hoarding gold and food to keep its employees paid and fed if the financial system collapses.
Posted by gjblass at 12:01 PM 1 comments
Labels: Gold, Lost Treasures, Treasure Hunters
Posted by: Rocco Penn
From: http://topcultured.com/
As you’ll see below, there’s an awful lot that goes into protecting our nation’s gold. Considering that it’s current value is around $270 billion, some speculate that there’s more than just gold inside. Some say there are…
Whatever you believe, one thing is certain: you’d have an easier time getting into the White House than you would getting into Fort Knox (and don’t try to get into the White House – it’s dangerous over there).
This infographic by CreditSesame breaks down the facts and speculations nicely. Click to enlarge.
Posted by gjblass at 12:28 PM 0 comments
Labels: Forts, Gold, Nuclear Weapons, Secret Bunker
It's like a scene from Indiana Jones and the Temple of Doom. Even before the unlocking of the last of six secret vaults at Kerala's largest temple, the centuries-old treasure in gold, silver and precious stones discovered in its cellars is already estimated to be worth around £12.6bn.
"Though we knew that offerings made to the temple by devotees for the last 500 years were lying in these secret cellars, the scale of the treasure has definitely surprised us," temple official Hari Kumar told the Guardian. "All of Kerala is celebrating this extraordinary find." Its discovery has made the Hindu temple of Padmanabha Swamy in the state capital Thiruvanthapuram the richest in India.
During the past week, a team of experts appointed by India's supreme court has opened five vaults dedicated to the deity Lord Vishnu to uncover an enormous hoard of gold idols, jewellery studded with diamonds, emeralds and other precious stones, antique silver, and even two golden coconut shells studded with rubies and emeralds.
The shrine dates back to the 10th century, but the present massive granite structure was built only in the 18th century after King Marthanda Varma expanded and consolidated the Travancore kingdom. It has historically been a royal temple, but offerings to the Lord Vishnu, in the form of gold and jewellery, have come not just from Travancore kings and other Kerala royalty but millions of ordinary devotees.
The vaults containing the offerings have remained locked at least since the 1930s, when the last inventory was reportedly carried out by Travancore's then rulers. India's supreme court ordered a fresh inventory of the treasure after a face-off between the current head of the former Travancore royal family and a lawyer who challenged them about the management of the temple wealth, claiming there was inadequate security.
"There are six vaults, from A to F, and only Vault B has still to be opened," says Kumar. "This vault has special locks, and we don't want to break them. So we're getting experts to examine them, and we should be able to open them on Friday."
The entire operation is going on under heavy police security, but nothing is being filmed or photographed. "Taking photos within the sacred space of the temple is strictly prohibited," says Kumar.
Kerala's chief minister Oommen Chandy has rejected the demand that the treasure should be used for public benefit. "It belongs to the Padmanabha Swamy temple and will be preserved there," he said.
Posted by gjblass at 3:51 PM 0 comments
Labels: Gold, Lost Treasures, Treasure Hunters
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Iron Dog |
The Iron Dog 05 Huraxdax |
Posted by gjblass at 10:43 AM 0 comments
From: http://www.usatoday.com/
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Posted by gjblass at 2:02 PM 0 comments
Posted by gjblass at 12:37 PM 0 comments
Labels: Architecture, Design and Architecture, Gold, Religion, World Religions
From: http://gizmodo.com/
In these financially uncertain times it's not surprising people are turning to gold instead of cash, but I'd like to know how many 7-11s actually accept 24-carat gold bars these days?
The Emirates Palace hotel in Abu Dhabi has just revealed the gold ATM, which spits out 10-gram bars of 24-carat gold. Each bar can be custom-engraved for that extra reminder of your net worth. [Sky News via Born Rich]
Posted by gjblass at 10:56 AM 0 comments
Labels: Abu Dhabi, Atm, Dubai, Gold, United Arab Emirites
Gold medal winning women get very little exposure, these photos help us focus on their achievements in more detail.
Posted by gjblass at 11:20 AM 15 comments
Labels: Gold, Olympic Sports, Olympics, Vancouver
Posted by gjblass at 11:11 AM 0 comments
Labels: Gold, Olympic Sports, Olympics, Skiing, Vancouver
Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund.
Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal.
Mr Dvorkevich said it was "logical" that the new currency should include the rouble and the yuan, adding that "we could also think about more effective use of gold in this system".
The Gold Standard was the anchor of world finance in the 19th Century but began breaking down during the First World War as governments engaged in unprecedented spending. It collapsed in the 1930s when the British Empire, the US, and France all abandoned their parities.
It was revived as part of fixed dollar system until US inflation caused by the Vietnam War and "Great Society" social spending forced President Richard Nixon to close the gold window in 1971.
The world's fiat paper currencies have lacked any external anchor ever since. It is widely argued that the financial excesses and extreme debt leverage of the last quarter century would have been impossible - or less likely - under the discipline of gold.
Russia is a major gold producer with large untapped reserves of ore so it has a clear interest in promoting the idea. The Kremlin has already instructed the central bank of gradually raise the gold share of foreign reserves to 10pc.
China's government has floated a variant of this idea, suggesting a currency based on 30 commodities along the lines of the "Bancor" proposed by John Maynard Keynes in 1944.
Posted by gjblass at 8:52 PM 0 comments
Labels: Economics, Economy, Foreign Currency, Gold, russia
By Mike Hanlon
As stocks and shares tumble, house prices crash and previously unassailable institutions crumble into dust, the sight of several thousand 28lb bars of 24-carat gold stored in the Bank of England's massive underground vaults is hugely reassuring.
For as the world wakes up to the fact that securities and dodgy loans are turning out to be as solid as wet cardboard, good old-fashioned gold has come back into fashion as never before.
Rock solid: Several thousand 28lb bars of 24-carat gold stored in the Bank of England's massive underground vault
Indeed, less than a decade ago, the noble metal was trading at a mere $275 an ounce. Today, an ounce of gold fetches $787.80 (£460), making each of these bars worth around £200,000, or as much as a top-of-the-range Ferrari (and, before long, more than the average London house).
In fact, there are around 15,000 bars in this picture alone - that's about 210 tonnes of pure gold, with a value of nearly £3 billion. And there's plenty more out of view.
In fact, what you see here is just one-twentieth of the gold stored under the Old Lady of Threadneedle Street, as the Bank of England's City of London headquarters is affectionately known.
In all, some £73billion of gold - that's 4,600 tonnes of the stuff - is stored in concrete-lined vaults beneath the busy streets of central London. It never oxidises or tarnishes (so it doesn't need to be covered), although it does need the odd dust - by a cleaner who has been carefully vetted, no doubt.
Sadly, not all the gold beneath the Bank of England is ours.
It is a long time since the British currency was pegged to the value of gold (Britain left the Gold Standard in 1931), but we have always kept some as a reserve of last resort. Sadly, we haven't always bought and sold it wisely.
In May 1999, for example, the then-Chancellor, Gordon Brown, decided to sell 415 tonnes, or 60 per cent of the UK's total reserves.
Unfortunately, this sale took place at a time when gold prices reached historic lows. Had we held on to this gold, critics say, the Exchequer would now be £2billion better off.
In fact, most of the gold stored here is held by the Bank of England on behalf of other depositors, notably the central banks of various foreign governments who might not have access to such a secure cellar. The bars themselves are not identical.
The quality of the actual metal doesn't vary, but the slightly different shapes and marks reveal that it comes from various sources.
Security for the world's second-largest gold store (the largest, by a whisker, is the Federal Reserve bank vault in New York) is, predictably, rather tight.
The vaults are huge and include three disused wells. In fact, the floorspace is actually larger than that of the City's tallest building, Tower 42. Keys three-feet long are needed to open the gigantic vault doors.
They look ceremonial, like something used for a state occasion, but these keys are in fact entirely functional.
As they are inserted into the locks, the person attempting entry also has to speak a password into a microphone before the vaults are opened.
The Bank is, understandably, rather secretive about the precise details of the vaults. But the walls must be literally bombproof as they were used by bank staff as air raid shelters during World War II. The posters on the wall, depicting sunny climes, luxury cruises and happier times, have been preserved from that era.
As the world loses its faith in most investments, gold provides a primeval sense of security.
Of course, beyond being pretty (and its uses in electronic circuitry) the intrinsic value of gold is mostly symbolic, too.
But what would you rather have in your hands right now: a fistful of share certificates, or one of those bars?Posted by gjblass at 2:29 PM 0 comments
Labels: Bank of England, Gold