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The way I see it: Say you've got a source of gold that no one else will touch (illegal mine, sanctioned country, slave labour, stolen gold, etc). It costs you
by jotm 7y ago
The way I see it:
Say you've got a source of gold that no one else will touch (illegal mine, sanctioned country, slave labour, stolen gold, etc). It costs you way below market price, but no one will buy it from you.
You pour it into bars, stamp it with fake brands and sell it at market price to anyone you want.
Instant profit and your hands/money are clean.
- petre 7y agoCertain parties operating in the UAE will touch it. This is just one further step away from selling it as jewlery. https://www.hrw.org/news/2016/04/12/dispatches-child-labor-dubais-gold-supply-chain https://www.hrw.org/news/2016/04/12/dispatches-child-labor-d...
- otherme123 7y agoI tend to think the article is trying to inject some shadow over gold market, like in "careful with buying gold, you'll probably end up buying a bar of rusty iron". You have to read four paragraphs to read the first explanation that there's no problem with the gold quality. Gold may be the dirtiest commodity out there. There are plenty of people that buys gold without worrying about its origins, to immediately melt it into something else. People that doesn't care where a meth head got this 24k gold necklace, will trade it for about 10% its value and melt it into jewelry again. I'm sure the last worry of people buying gold bars is the source of them, specially if you can get them at a small discount. "Hey, look: I'm getting rich selling tobacco to children, weapons to both sides of a war, paying doctors to prescribe my drugs, flooding the oceans with crude oil... but that gold origin is what worries me at the end of the day."
- SilasX 7y agoSo, like Die Another Day, where that villain takes blood diamonds into Iceland to obscure their origin and sell them like they came from there?