Britnick

Welcome back. The 1st thing I notice the article is more than 2 years old. I had a quick read & I didn't see any mention of putting up cash as collateral when you borrow gold. Did I miss something? I thought he said, or insinuated, you just sign a "lease certificate" & they give you gold. If so that is ridiculous! If the price of gold is $850. you put up $850,000. per million + some margin. If the price goes to $950. you must put up an additional $100,000. There may be sweetheart deals & you can put up US T-Bills instead. But whoever lends out the gold can never be at risk based on a lease certificate. Do you think there is anything in the article that should change my opinion?

Regards

Joltin