Paper gold isn’t backed by real gold. They make up as much paper gold as they need to get the price where they want it. If they have to pay out, they sell more paper to raise funds and drop the price before paying out. It’s a pyramid scheme.
Years ago paper metal had an option to be redeemable for metal. Most just took the cash because it’s way easier to move digital currency. But apparently London was having problems when people tried to get their gold.
Paper gold isn’t backed by real gold. They make up as much paper gold as they need to get the price where they want it. If they have to pay out, they sell more paper to raise funds and drop the price before paying out. It’s a pyramid scheme.
Years ago paper metal had an option to be redeemable for metal. Most just took the cash because it’s way easier to move digital currency. But apparently London was having problems when people tried to get their gold.
Same criminality…
They make up as much p̶a̶p̶e̶r̶ ̶g̶o̶l̶d̶ paper ballots as they need to get the p̶r̶i̶c̶e̶ vote where they want it.