A Boring Dystopia

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givesomefucks@lemmy.world

The rich are ‘renting’ out their idle gold bars for income as prices remain at historic highs (www.cnbc.com)

submitted 2 days ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] Nollij@sopuli.xyz 5 points 2 days ago

It seems more like the futures market. The jewelers are "buying" gold at the current price to make things with gold, and they will need to repay the same amount of gold. If the price goes up, the jewelers will be paying more at that time, and the owners make a profit. If the price goes down, the owners lose money (same as if they simply held it)