Paper bullion is a elephant in a room

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gata.org / By Fergus Hodgson, Gold Newsletter, Metairie, Louisiana / November 23, 2016

Many people find bullion as a guarantee opposite acceleration of fiat currencies, though they mostly forget how fiat currencies came to be in a initial place.

This blind mark has available a really same deception to play out in a time — though but showing in a vital financial press.

The blind mark is fractional reserves. It is a holding of changed metals — a tough income — next a series of claims of customers. It was a predecessor to complicated fiat currencies, that now usually have shade “reserves” of some-more cash. Similarly, required banks now reason income as “reserves” for checkbook and digital money.

Who is a manikin in this situation? As Chris Powell of a Gold Anti-Trust Action Committee says, “If we don’t know who … you’re a dummy.”

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