The Six Billion Dollar Gold Scam 2. The believers
May 26, 2024
Exploring the gold fever surrounding the massive Bre-X discovery, a small Canadian town swept up in the rush, a hedge fund manager's pursuit to uncover the truth at the Indonesia gold site, and the intrigue of a potential gold scam unraveling amidst doubts and pressure.
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St. Paul's UFO Landing Pad
- St. Paul, Alberta, built a UFO landing pad in 1967 after alleged cattle mutilations.
- This reflects the town's fascination with the unexplained and its desire to believe.
Bre-X Gold Rush in St. Paul
- In the mid-90s, St. Paul became a hub for Bre-X investors, fueled by a local banker's tip.
- Many residents invested heavily, leading to both significant gains and losses.
The Banker's Tip
- A local banker, connected to Bre-X's CEO David Walsh, spread the word about the stock.
- This led to a chain reaction of investment within the small town.