Graeme sutherland's Blog – March 2010 Archive (1)
The usa is really finished this time
If your gold is held at an LBMA bank, you may be just an unsecured creditor, as much as 50,000 tonnes of gold have been sold that do NOT exist. That is equivalent of all the gold reserves in the world that are yet to be mined -- or, put another way, 25 years of gold production.
The LBMA is likely to be the next Madoff scandal, multiplied by 100 -- a $5 trillion fraud as opposed to a $50 billion fraud.
The LBMA is likely to be the next Madoff scandal, multiplied by 100 -- a $5 trillion fraud as opposed to a $50 billion fraud.
Added by graeme sutherland on March 9, 2010 at 4:38pm — 4 Comments
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