Can’t Go Wrong With Gold… Except You Can…

In a scene reminiscent of the origins of the banking system itself (benches, goldsmiths, promissory notes, counterfeiting) it’s beginning to look as though gold has been oversold. Leveraged appears to be the term for counterfeiting in these modern times. Just as in the old days, the origins of banking, goldsmiths gave out promissory notes for the same volumes of gold over and over again, it appears bullion banks are routinely doing the same thing. Cue more bailouts! Audit ahoy!

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