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Forum ยป More than 150,000 tonnes of gold has been sold than actually exists lmao
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Thread: More than 150,000 tonnes of gold has been sold than actually exists lmao

post 1638747273 05-17-2021, 06:20 AM
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  1. Gringo12
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  1. Gringo12
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More than 150,000 tonnes of gold has been sold than actually exists lmao

'But but bitcoin isn't backed by anything like gold is'
This would imply that the liability for unallocated gold that has been sold is probably closer to 150,000 tonnes (taking the more conservative 10 percent figure), but the liability is backed by a totally inadequate maximum of only 15,000 tonnes of physical gold. So it's likely that between 45,000 and 135,000 tonnes of unallocated gold has been sold that does not exist.

This is between 50 and 170 percent of the entire existing investment gold stock that has taken 6,000 years to mine and accumulate.
https://www.gata.org/node/7908
Fck u james
post 1638747353 05-17-2021, 06:22 AM
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#2
  1. AltarOfPlagues
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  1. AltarOfPlagues
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damn thats crazy
do not read my posts and weep, i am not there i do not sleep
i am the thousand greens that rep, i am the ban bet dutifully kept
of memes and trolls in toasted breads, i am not there, i am not dead.
post 1638747403 05-17-2021, 06:23 AM
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  1. ninetynine8
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why not just by physical gold?
post 1638747573 05-17-2021, 06:28 AM
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  1. WiseOldApe
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interesting how gold holds so much value even these days.
"It's hard to be yourself in a world filled with haters" - WiseOldApe.

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post 1638747653 05-17-2021, 06:30 AM
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  1. BLOATMOGGER
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Originally Posted By Gringo12⏩
'But but bitcoin isn't backed by anything like gold is'





https://www.gata.org/node/7908
You realize you can buy physical gold right?

And the information you posted means holders of physical gold will profit hugely in a squeeze (not that I expect one any time soon).

If anything you have strengthened the case for buying physical gold over bitcoin.
post 1638748453 05-17-2021, 06:47 AM
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#6
  1. Destor
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Derivatives already exist for bitcoin don't they? If it doesn't already exist, the same thing is probably already developing in the crypto world
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