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A few days ago I challenged global academia and the Wall Street sell side institutions to find risk in the financial system before I did. reference https://www.youtube.com/watch?v=56ls1vcEQTM
This article shows that I have apparently won that challenge rather quickly. Presuming you've read the article above, let's move on to the potential consequences...

Xetra-gold is approved for sale to the public in:
Germany
Austria
Luxembourg
the Netherlands
Great Britain.

Taking Great Britain as an example: Wikipedia explains the new UK Fraud Act of 2006: https://en.wikipedia.org/wiki/Fraud_Act_2006
As excerpted:"Fraud by false representation" is defined by Section 2 of the Act as a case where a person makes "any representation as to fact or law ... express or implied" which they know to be untrue or misleading.
"Fraud by failing to disclose information" is defined by Section 3 of the Act as a case where a person fails to disclose any information to a third party when they are under a legal duty to disclose such information.

... it requires that for an offence to have occurred, the person must have acted dishonestly, and that they had to have acted with the intent of making a gain for themselves or anyone else, or inflicting a loss (or a risk of loss) on another.

Now, with that uber-quick primer in UK Fraud law, let's cut an paste a section from the article above:
So, let's add these up now...

..."an investor is, from an economic point of view, invested in gold", but
"No correlation with the gold price", and
and "The value of the Notes is a function of demand and supply regarding the Notes as such and not of the demand for and supply of gold", but
"For potential purchasers of the Notes the pricing may, apart from the gold price, also be determined by other factors (e.g., the creditworthiness of the Issuer, the evaluation of these risk factors or the liquidity of the Notes)." - keeping in mind that Deutsche Bank believes
There's no movement in counterparty risks yearly, or cumulatively, due to collateralization (where said collateral is wide open to market forces and valuations) for instruments.
Oh yeah! If I were hired as an expert witness, this stuff could get ugly.... As for now, methinks its time to go put shopping again.

Oh, there's more, for those of you who believed that line "an investor is, from an economic point of view, invested in gold".

The purchasers of the Notes will only acquire the rights securitised by the Notes. The purchasers of the Notes will not acquire any title to, or security interests or beneficial ownership in, the physical Gold held in custody on behalf of the Issuer. An investment in the Notes does not constitute a purchase or other acquisition of Gold.

You guys tell me what you think...