[Yulee]

Continued from the article:

“Well, apparently everything as at least some of 83 tons of gold bars used as loan collateral turned out to be nothing but gilded copper. That has left lenders holding the bag for the remaining 16 billion yuan of loans outstanding against the bogus bars.”
********
I wonder what this will do to the value of gold.

[stylin19a]

copper ? tungsten used to be used because it’s weight was so close to that of gold.
What’s this world coming to...Crooks don’t even care anymore.

But it don’t beat this in the story: “As for the gold, several billion in gold bars never existed”

[TangoLimaSierra]

I wonder what this will do to the value of gold.

So far, almost nothing. Up $10.