Gold Gets Sucked Into China Commodities Collateral Fraud Scandal

``China's chief auditor discovered 94.4 billion yuan ($15.2 billion) of loans backed by falsified gold transactions, adding to signs of possible fraud in commodities financing deals.'' -- So... despite huge imports, there's even less gold in China than we thought! (Looks like the government and retail investors have been hoovering up most of the gold, and companies, not so much...)