all 28 comments

sorted by: hot top controversial new old
[–] 48 points 2 years ago (6 children)

I'm interested in why the bar is so chewed up. Are they handing out fakes as well?

  • source
  • hideshow 12 child comments
  • [–] 32 points 2 years ago (1 child)

    you can commonly find tungstein cored gold bars at sites like alibaba.com for far cheaper than real ones.

    they are aparently pretty much indistinguishable from real bars without special equipment.

    aparently even some major banks found some in their inventories

  • source
  • parent
  • hideshow 2 child comments
  • [–] 1 point 2 years ago (1 child)

    Are they handing out fakes as well?

    This is china we are talking about. Of course they are.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 45 points 2 years ago

    So now we're at the direct materials trading part of the dynasty.

  • source
  • [–] 18 points 2 years ago (2 children)

    I’m fucking dumb. What does this mean?

  • source
  • hideshow 4 child comments
  • [–] 34 points 2 years ago (1 child)

    This means that real estate developers are saying "I can't sell this house for $250K but I can sell it for $300K and give you a 1Kg ingot worth $50K" to get around the overvaluing of the house, because people won't buy the house at the prices Chinese government insists they should be sold.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 25 points 2 years ago (1 child)

    Governments are preventing companies from rapidly dropping house prices. But because they’re not worth what they’re forced to keep charging by the government (government isn’t forcing anyone to buy for example), developers are needing to add extra value to the sale to get buyers, hence the gold bars.

    House is worth $300k, but the government is forcing you to list it for $500k, so if I throw in $200k worth of gold bars, the whole sale is worth the price.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 16 points 2 years ago (2 children)

    Why does it look like someone tried to cut it in half with scissors?

  • source
  • hideshow 4 child comments
  • [–] 12 points 2 years ago (2 children)

    Where in this article does it say anything about local government restrictions? It says that this is a single housing firm doing this as a marketing stunt.

  • source
  • hideshow 4 child comments
  • [–] 19 points 2 years ago

    Read past the first paragraph:

    Part of the reason that property developers are struggling to shift stock is that several cities, in an effort to stabilise the market, have banned developers from cutting prices.

  • source
  • parent
  • [–] 7 points 2 years ago (1 child)

    Would anyone know how much is that ingot in the market?

  • source
  • hideshow 2 child comments