I just noticed something fascinating about how the gold market works that probably also applies to other assets. Most gold investors have never touched a physical bar. I think that's pretty ironic, isn’t it? We're talking about 98% of people who say they invest in gold but actually only hold papers or numbers on a screen.

I wonder if this has to do with how we verify what we actually own. When you buy gold through an intermediary, you never really know if that bar exists in a warehouse or if it’s just a promise. It’s like you need to be an expert in how to tell if a chain is gold to trust what they say you have.

The interesting part is that this indirect ownership model creates a huge trust problem. If you don’t physically own what you bought, do you really own it? It’s a question many investors never ask themselves. Some don’t even know how to tell if a chain is genuine gold, so imagine verifying that an entire gold bar in a distant warehouse is truly yours.

This makes me think about how asset markets work in general. When you invest in gold through a bank or broker, you’re relying entirely on that institution being honest. There’s no real transparency. No one teaches you how to tell if a chain is authentic gold, so imagine trusting that your six-figure investment is legitimate without being able to verify it yourself.

The reality is that most investors simply accept this system. They buy, see numbers go up and down on an app, and never question whether the underlying asset actually exists. It’s a trust issue that has existed for centuries with gold, but in the digital world, it becomes even more relevant.

I think we should think more about this when we invest in anything. Because if you don’t know how to tell if a chain is gold or how to verify that what you own is real, then what are you really investing in? It’s a reflection worth considering before putting money into any asset.