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There most likely is. Even when the USD was on the gold standard, there were far more of these gold claim certificates we called dollars than the US had in gold
by aneth4 14y ago
There most likely is. Even when the USD was on the gold standard, there were far more of these gold claim certificates we called dollars than the US had in gold reserves. This is the nature of fractional reserve banking, and it no doubt still takes place with gold.
- trhtrsh 14y agoBut a key difference is that I have gold in my vault, and you have an oversold "gold" certificate, you can lose, but I can't. When I have a dollar bill in my pocket, and the government floods the country with new dollar debt, my dollar inflates.
- chiph 14y agoMake sure your gold doesn't have a tungsten center. http://www.zerohedge.com/news/2012-09-24/get-your-fake-tungsten-filled-gold-coins-here http://www.zerohedge.com/news/2012-09-24/get-your-fake-tungs... AFAIK, the only way to make certain is via destructive physical inspection (drill a hole in it).