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U.S. Mint Buys Drug Cartel Gold and Sells It as 'American'
- deleted 6mo ago[deleted]
- AngryData 6mo agoOf course it does. Gold has been used for currency since forever in large part because it is easy to hide its source. A simple melt in a pot will erase every bit of history and political baggage from a piece of gold. Any large institutions dealing with gold are knowingly trading in the global black market with large criminal organizations and corrupt governments.
- m463 6mo agokind of funny how bitcoin, which doesn't even exist in the physical world, has more traceability.
- duxup 6mo agoGift link: https://www.nytimes.com/2026/04/26/world/americas/us-mint-gold-drug-cartel-colombia.html?unlocked_article_code=1.d1A.65k4.nq7tDIAeY4Kn&smid=url-share https://www.nytimes.com/2026/04/26/world/americas/us-mint-go...
- msuniverse2026 6mo agoWish I understood what was going on with the gold price. Shit goes gangbusters when nothing is happening, and when straits are closed and countries invaded it goes down.
- zulux 6mo ago"Markets can remain irrational longer than you can remain solvent"
- consumer451 6mo ago"It's a big club, and you ain't in it."
- tastyfreeze 6mo agoGold price has more to do with dollar devaluation than anything. When the money printer goes brrr the price of gold will go up in delayed response.
- cindyllm 6mo ago[dead]
- defrost 6mo agoThis might shed some light: Gold, a 'safe haven' in uncertain times: Why is it crashing amid a war? 31 days ago | https://news.ycombinator.com/item?id=47526511 https://news.ycombinator.com/item?id=47526511
- kingstnap 6mo agoGold is largely a speculative asset just like any other, despite what you might believe given the culture we have that reveres gold as "real" value. There is much more gold mined then used in jewelry or electronics. And the jewelry often gets recycled since people don't tend to carelessly throw out their gold jewelry. The super majority of demand is just making bars to sell to banks and individuals to keep in vaults. This naturally means what controls its price is largey the amount of stockpiling going on. Gold going gangbusters was mostly a sell off of US treasuries over the tarrif chaos last year which ended up chasing gold. It couldn't for example chase housing in China given the massive slump in their housing markets for years. The straight being closed doesn't really signal to central banks or individuals that they need to sell more goverment bonds and swap into gold. If anything they will probably be tempted to sell to cover goods inflation from oil shocks.
- cindyllm 6mo ago[dead]
- readthenotes1 6mo agoTürkiye sold, literally, tons of it at the start of the war and that's one of the reasons the price went down. Before the war central banks were buying it up like crazy. Iirc, it has surpassed US treasuries as assets for the first time quite a while. https://www.reuters.com/world/middle-east/turkish-gold-reserves-largest-drop-7-years-data-shows-2026-03-26/ https://www.reuters.com/world/middle-east/turkish-gold-reser...
- lvl155 6mo agoGold has been a vehicle for cartels for a very long time. It’s shifted to crypto in recent years but gold is still the cleanest (and most economical) way to clean money.
- pwg 6mo agoAnd entire article to say: "gold is fungible".
- Cider9986 6mo agoWhich is more fungible, gold or Monero?
- johnea 6mo ago"The founding principles of our country": He who has the gold makes the rules...