Another day and another gold counterfeiting scam

in GEMS10 days ago

This is why Bitcoin

In news out of China this morning, there was yet another gold counterfeit scam.

Sees:

image.png

(Source: https://asia.nikkei.com/Spotlight/Caixin/Mystery-of-2bn-of-loans-backed-by-fake-gold-in-China)

And this time the scammers didn't even use tungsten!

According to the article, 83 tons of gold bars used as collateral turned out but nothing but gilded copper.

This was worth roughly $2 billion dollars by the way, or at least it was pretended to be.

In today's world I am not I would ever accept gold as payment considering how much of it out there is counterfeit.

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