Just Curious…..
When you deposit money into a checking account they are required to maintain 20 percent and then they lend out the other 80 percent.
A lot of precious metals brokers sell you a certificate of ownership for an ounce of gold or silver and ‘they’ll hold it for you’.
Is there any law that requires them to have the specific number of ounces on hand that they are selling?
I have always thought that they would sell as many certificates as they could print as well as make…