# Gold backed derivatives



## metric (12 April 2008)

how sure are we that derivatives are backed by anything?



> Let’s now look at a second issue. Derivatives, specifically Gold Backed Derivatives issued by such banks as J.P. Morgan, Barclays Capital, Meryl Lynch, Citibank, ABN-amro, and sold through off shore subsidiaries in such places as the Caymens, Dutch Antilles, Turks & Caicos.
> 
> There is no Gold backing these derivatives, and I will say that again so that everyone understands………THERE IS NO GOLD BACKING THESE DERIVATIVES.
> 
> ...




http://www.fourwinds10.com/siterun_data/government/corporate_u_s/news.php?q=1207704120


----------



## Trembling Hand (12 April 2008)

What the hell are you talking about? A Derivative contract doesn't imply there is ownership or a direct link to an asset.

What a load of crap. Why are you reading such rubbish.


----------

