How much imaginary gold has been sold?
Posted on October 17th, 2009 by MoverMike
Recently, Adrian Douglas board member of GATA “published an article that postulated that the gold market is a Ponzi scheme because it sells gold that doesn’t exist by implementation of the principles of fractional reserve banking. (See http://www.gata.org/node/7887.) Since writing that article further information has come to light that supports this claim and allows an estimate of how much gold has been sold that doesn’t exist if the owners of the gold ask for it.”
In How much imaginary gold has been sold? Douglas believes for every ounce of gold that exists, at least 10 ounces have been sold and now many are starting to ask for their Gold. That makes the price of gold and silver explosive!
Ah, velly intelesting…
[…] Adrian Douglas speculates that the existing supply of gold had been sold over and over, perhaps ten times, like […]
Thank you.. it’s the reason I came to the siteThanks for all this good plugins!