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/biz/ - Business & Finance

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20018394 No.20018394 [Reply] [Original]

OH NO NO NO ROCK BOOMERS BTFO

MOST GOLD IS FAKE

https://www.zerohedge.com/markets/83-tons-fake-gold-bars-gold-market-rocked-massive-china-counterfeiting-scandal


>guess what can't be faked?
crypto :^)

>> No.20018408

Priced in. There is tons of miners in Alaska mining 10000 ounces a day

>> No.20018481

>>20018394
The take home from that article is that chinks are scammy, which is hardly news. All the bars in the story are in China, but as always caveat emptor

>> No.20018541

>a relatively small number of gold bars are worthless scams
vs
>literally ALL crypto coins/tokens are worthless scams
yeah man boomers really "btfo" this time, huh

>> No.20018636

>>20018394
>china counterfeiting things
Literally known for decades now.

>> No.20018654

>>20018394
Year of our lord 2020

>buying gold from China
>buying literally anything from China
>allowing Chinese nationals anywhere near your shores
>even talking about China as a supplier

Is like you like cancer or some shit, I think the world has learn that if you want your economy to be rektd every 5 years you should make China you'r sole and only producer and I mean is not like they're goin to stop producing pandemics every 5 years or so

>> No.20019535

>>20018394
Told my mom this, she asks what gold is worth at the moment and I said about 55k a kg. She asked what copper is worth, I said not 55k a kg.

>> No.20019657

>>20018394

Ok, so if you don't have fake chinese gold, your gold is now worth more, retard.

>> No.20019734

They have $28 "ounces" on the chink site dhgate

>> No.20020659
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20020659

>>20018394
What's your next stupid talking point?

Asteroid mining?

>> No.20020745

>>20018654
this. anyone dumb enough to trust anything chinese deserves to lose their money

>> No.20020767

>>20018408
>Priced in. There is tons of miners in Alaska mining 10000 ounces a day
what? todd hoffman couldnt get 1000 oz in a whole season

>> No.20020821

>>20018394
the beautiful ringing of my gold eagle says otherwise

>> No.20020847

>lots of fake gold
>less gold
>my real gold worth more

>> No.20020856

>>20018394
Duh. This is why I'm all in Kleros.

>> No.20020921

>>20020659
People say bitcoin is illiquid but physical gold = illiquid shitcoin. With bitcoin you're interacting with a global market of buyers and sellers.
With gold you're limited to your local market with bad spreads. Buying/selling online might help a bit with spreads but then fees kill it.
That being said holding it for generational wealth as less than 5% of what you own is fine, or trading paper gold.

>> No.20020935
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20020935

>>20020847
This guy gets it.

>> No.20020944

>>20018394
This is incredibly fucking bullish for Goldminers.

>> No.20020982
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20020982

>assuming /biz/ PMGbros are dumb enough to buy large brick bars of gold from chinks that are probably fake
nope

>> No.20021011

>>20018394
>MOST GOLD IS FAKE
>83 tons of gold made and traded almost exclusively in China among large corporations as loan collateral

Okay Anon.

>> No.20021087

>>20018394
Unironically bullish that means there is less gold in the world than we think. Supply is low price go up.

>> No.20022168

>>20018394
a male orgasm?

>> No.20022247 [DELETED] 

>>20018481
>>20018636
>>20018654
>>20020982
All this right here. OP's article is like complaining that touching a hot stove hurts, it's common sense

>> No.20022267

>>20018394
You know what else can't be faked? Gold that wasn't made in china
>>20018541
Based. 99% of crypto will go nowhere, but you'll still hold it for 10 years with hopes and dreams.

>> No.20022270

>>20022168
Not true, ask Kramer.

>> No.20022277

>>20018394
and how are bitcoins any better kiddo? you can counterfeit bitcoins too

>> No.20022288

oh wow I've seen this fud like in March already lmao. Didn't know shills were recycling fuds.

>> No.20022292

imagine browsing /biz/ and thinking bitcoin is a scam

>> No.20022351

>>20022292
>>20022288
can you proof that it's not retards?

>> No.20022447

>>20020982
>assuming /biz/ PMGbros are dumb enough to buy large brick bars of gold from chinks that are probably fake
how new are you?

we had a thread just a couple months ago with one of you morons discovering the bars he bought and then resold were Chinese fakes

hell, we used to have threads where you idiots were purposefully buying fakes on Alibaba and reselling them. Most of those faggots are probably in prison now though.

>> No.20022531

>>20018394
It's incredibly bullish for gold you abysmal cretin. Those fake bars have been collateralized up to ten times. So it's not 'only' 83 tons vanishing from the markets, but almost 830 tons from the books.
Meaning you now have 800 less tons in circulation.

And let me tell you a lil secret : this scandal is a baby nano scandal compared to what's really going on. It's estimated by intelligence services that up to 60% of the gold bars held by central banks around the world are tungsten filled. It's tens of thousands tonnes of fake gold. Now you multiply this by the 1:88 ratio of real gold to paper GLD ETFs traded on the comex to keep the prices suppressed, and you start to get an idea over the true magnitude of this whole shitshow.
Remove the tungsten, the collaterals and the ETFs and you end up with real gold's price around $100,000/oz.

>> No.20022552

>>20020921
The difference is gold is real while your shitcoin is not. It's pure nothingness, just a fucking ponzi scam for greedy retards.

>> No.20022710

>>20022351
prove your gold isnt copper lmao

>> No.20022717

>>20022552
how is it a ponzi when anyone can mine to earn it

>> No.20023113
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20023113

My boomer rocks came in today, is my gold tungsten?

>> No.20023123

>>20023113
mate that looks like a kilogram of silver to me

>> No.20023150

>>20018394
don't fucking buy gold in china

>> No.20023189
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20023189

>>20022552
imagine hoarding something that can be confiscated.
the absolute state of monGOLDoids.

>> No.20023234
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20023234

Fuck chain link. Fuck crypto. If you invest in digital scamd you're a retarded nigger.

>> No.20023266

>>20018394
Did you even read the article?
In any case I've got a shit load of LOKI and gold so i'm fine

>> No.20023453

>>20018394
>crypto can’t be faked
What is bsv?
What is bch?
What is xrp?
Retard

>> No.20023461
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20023461

>>20022552
>The difference is gold is real while your shitcoin is not

>> No.20023510

>>20023234
Based magpie

>> No.20023791

>>20018394
>Rock Boomers
Boomers invest in stocks and bonds

>> No.20024009

>>20023453
Imagine thinking xrp is fake just because you're pissy about buying it early 2018.

>> No.20024206

>>20018394
>>guess what can't be faked?
>crypto :^)
Stuff has to have any value for people to bother faking it.

>> No.20024245

>>20024206
Bitcoin has value, and people have tried faking it. Literally every shitfork in existence is the evidence of that. It just so happens to be that it's impossible to fake Bitcoin like you can fake gold.

>> No.20024259

>>20020767
Implying that fat fucks tv show has anything to do with a profitable mining operation.