Gold Issues - The Inverse Pyramid Continues It's Collapse

Gold develops some major issues -

Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims.

Speaking to Emirates 24|7, Mohamad Shakarchi,, Managing Director of Emirates Gold, said: "A lot of people in the UAE who tried to import gold at lower prices or through dubious overseas companies have been cheated.

We have inspected many consignments from African countries, especially Ghana, and found that there is not an ounce of gold in them.

The Real Effect
Regarding the pyramid above, I'm not as concerned about the accuracy of the order of the collapse as much as I am demonstrating the way it collapsing; specifically the tangible value that it is chasing. (On this chart, gold)  This illustrates the subjective nature of value as supposed objective notes (Federal Reserve) are increasingly being backed in physical gold and other commodities.

All of the Keynesian belly-aching in the world won't change the fact that the piper is going to want to get paid sooner or later in something that has value. And fancy bookkeeping will only aggravate the total number of asset-less individuals chasing a given commodity. As a wise individual once expressed - "Who's the big dumb monkey now?"