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$19B GONE: CHINA’S GOLD TRADING SCHEME BLOWS UP JieWoRui, China’s “trust us with your gold” investment platform, just froze a staggering $19 billion in customer assets, locking users out of both withdrawals and physical delivery. Their solution? A weak offer to pay 20% back, maybe, someday. (twitter.com) 🍿 POPCORN 🍿

posted 140 days ago by mmtwo 140 days ago by mmtwo +114 / -0

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– tchouk 3 points 140 days ago +3 / -0

A private dealer blowing up because there's not enough physical isn't about China as such. Only in so far as retail investors are way more active over there.

This only tells us that we're fucked when people stand for delivery, which they are now more likely to do

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