Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loans in

[2Peas]

Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loans in China. https://news.bitcoin.com/gold-industry-83-tons-fake-gold-bars-secure-2-billion-loans-china/

 

[galenrog]

Business as usual in China. Barely a hiccup.

Time for more coffee.

 

[freeman]

That the fake gold was deposited as collateral for loans with what are referred to there as 'shadow banks' says it all.

 

[Honest Samuel]

I would like to find 83 real gold bars in my state.

 

[LawrencetheMDer]

HOLY TOLEDO!! 83 TONS of fake Chinese gold!! That is a lot of gold. Wondering if my SPDR (GLD) has any

83 tons and what do you get?
Another day older and deeper in debt!

 

[SD51]

Why am I not surprised...

Sounds like in the future, it might be a good idea to cut every supposed Gold bar coming from there, into small pieces to confirm it's really Gold!