Topic: Gold Bullion

An anecdote about a supervisor who hid solid gold picture frames by painting them black leads to a discussion on physical asset protection. The hosts compare the historical value of Krugerrands to the modern performance of Bitcoin.

The technical aspects of aircraft tracking, including transponder "squawk" codes (7500 for hijack, 7600 for radio failure, 7700 for emergency), are explained. The discussion asserts that military radar and satellite systems likely tracked MH370's exact location, making the public search efforts a form of "theater." Speculation includes the potential importance of 20 engineers from Freescale Semiconductor or sensitive cargo on board.

Germany's Central Bank announces plans to repatriate $36 billion in gold bullion currently stored in New York and Paris for safety since the Cold War. The hosts question the relatively small valuation of the gold and speculate on whether the bars in the vaults have been replaced with tungsten.

Reports from Russian and Pakistani news agencies claim that $18 billion in gold and cash was transferred from Iran to Turkey in 2008, allegedly destined for Barack Obama's campaign coffers. The story involves Esmail Safarian Nasab, a figure previously linked to the arms-for-hostages deals of the 1970s. While the hosts acknowledge the potential for Russian disinformation, they speculate on the possibility of laundering large sums through small individual campaign donations.

Reports indicate that Germany is demanding the return of physical gold bullion held in U.S. custodial accounts. The hosts discuss the disparity between paper gold and physical assets. They also touch on oil price manipulation, mentioning the "whisper number" of $75 and an upcoming interview with Michael Greenberger.