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Author Topic: Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loan  (Read 2001 times)

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Offline : Michael-Robert: Embry.

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Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loan
« on: July 02, 2020, 07:16:54 PM »
The gold industry has been shaken after it was discovered that 83 tons of fake gold bars have been used as collateral for loans worth 20 billion yuan from 14 financial institutions to a major gold jewelry manufacturer in Wuhan, China. This amount of gold “would be equivalent to 22% of China’s annual gold production and 4.2% of the state gold reserve as of 2019.”
https://news.bitcoin.com/gold-industry-83-tons-fake-gold-bars-secure-2-billion-loans-china/
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Re: Gold Industry Shaken as 83 Tons of Fake Gold Bars Used to Secure $2 Billion Loan
« Reply #1 on: July 03, 2020, 02:16:49 PM »
Yes... I saw that story. That was crazy!
TW
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