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RE: Did Bitshares Just Help Create "Perfect Money"????
The gold ETF is not backed by physical gold one to one. You own a share of GLD does not mean you own any gold at all. It's being manipulated.
The gold ETF is not backed by physical gold one to one. You own a share of GLD does not mean you own any gold at all. It's being manipulated.
And BitGOLD is fully backed 1:1, and with ZERO counterparty risk!
My bad. Apparently Van Eck's OUNZ allows retail investors to convert to physical gold while only "authorized participants" (not us) are allowed to redeem GLD.
https://www.barrons.com/articles/a-gold-etf-that-lets-you-redeem-shares-for-gold-1468641673