Double Spending
Double Spending is an understatement.
Some sources suggest that said gold holdings have in fact been sold and re-issued as bonds and gold certificates to banks, companies and citizens. These bonds and gold certificates have then been re-packaged and re-sold multiple times in the markets on top of assets that don't actually exist.
[Citation needed]
So... Triple and even Quadruple spending of 'borrowed' assets.
Google rehypothecation. In the City, rehypothecation can be infinite (but limited, by haircuts).
Thanks for that.
(1) I'm well aware of rehypothecation. (2) What's Google ?
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Where's all the gold? - https://www.youtube.com/watch?v=-QcAwybdrXg
The U.S. Gold Standard: Digging Deeper - https://www.youtube.com/watch?v=frZ8MNILcS8