Post
Topic
Board Economics
Re: Buy 1 ounce gold. End Giant Bank's $15,000,000,000,000 cartel
by
markj113
on 28/08/2018, 06:25:34 UTC
Pointless to "buy gold". All these banks and giants you speak off can do 10 times what any single person here can, in the blink of an eye. They don't even need access to physical gold. One phone call or email can get them any amount of paper gold via Comex probably at a deep discount too. No one cares that they're not even 1% backed by physical gold. That's how bad it's gotten for gold, and that's what futures could do to Bitcoin one day, who knows?


Kind of like bots on a crypto exchange then.

Paper gold is leveraged at over 500:1 to real gold, this has suppressed the price.  At some point the number of people wanting physical delivery will increase then the house of cards will fall.