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Podcast: IEN Radio
Episode: Gold Industry Roiled by 'Forgery Crisis'
Description: Reuters is calling it a “forgery crisis” and, in a recent exclusive story, the news outlet is reporting that the gold industry is being roiled – and it’s bad.Reuters says that gold bars are being fraudulently stamped with the logos of major refiners and slipped into the supply chain, to the tune of about $50 million worth over the last three years. Reportedly the bars are so hard to detect, they were even discovered in the vaults of financial institutions like JPMorgan Chase.But the problem is more nuanced than it sounds. Apparently fake gold is actua...