HSBC issuing Tokenized Gold. Very Interesting Timing. Very Risky Product.
The Banking Collapse of 2024 will play out worse than 2007 / 2008 for 7 over-simplified reasons:
1. The Debt Based Model was never fixed.
2. Banks are Leveraged to the Max.
3. Lack of Market Breadth.
4. Too many Wars.
5. Commercial Real Estate Doom.
6. Fractional Reserve Banking is Ponzi in nature
7. We're in a profound recession that hasn't yet made it to mainstream news.
Here are 3 reasons you will want to avoid the HSBC Gold Token
This is an unsecured loan to HSBC.
When HSBC crashes like it did during the GFC, there will be big trouble converting "digital gold" to genuine Gold.
You can still acquire physical Gold at a lower price than in Shanghai.
