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Another reason is to make sure they get their gold back first, just in case there's a been a financial ponzi scheme in gold trading where paper instruments are
by bitcartel 14y ago
Another reason is to make sure they get their gold back first, just in case there's a been a financial ponzi scheme in gold trading where paper instruments are not backed up by real assets.
http://www.bloomberg.com/news/2011-12-09/hsbc-sues-mf-global-brokerage-over-stored-gold-silver-bars-1-.html http://www.bloomberg.com/news/2011-12-09/hsbc-sues-mf-global...
"Five gold bars and 15 silver bars underlie eight Comex contracts between the brokerage and its client Jason Fane of Ithaca, New York, the unit of London-based HSBC said in a court filing yesterday. Both parties have asserted claims to the bars, creating difficulties for HSBC, which is storing them, the bank said. HSBC asked a judge to decide who the rightful owner is."