> due to long and short positions
Those cancel each other. The important number is how it compares to the net amount. I don't think anybody does fractional reserves of commodities.
Those cancel each other. The important number is how it compares to the net amount. I don't think anybody does fractional reserves of commodities.
That certificate ensures the commodity is mine even if the holder gets bankrupt or some other disaster. Not having it there would be fraud, and my government does go around checking it.
I have a quite strong suspicion that this is universal. But well, I haven't checked this.