Madness Coming To Gold Market: “There Are Thirty to Fifty Owners For Each Ounce of Gold That’s Out There”

"The banks operating in these paper markets do so with gold that they don’t own. They trade in paper receipts. The reason that’s a problem is that there are anywhere from thirty to fifty 'owners' for every ounce of gold out there. Craig Hemke of the TF Metals Report discusses the western gold scheme in a recent interview with The Daily Coin and says that when the music finally stops there are going to be a lot of people who think they own a certain amount of gold but all they’ll really be holding is a worthless paper ticket"