Gold World News Flash |
- Barrick Gold Turns to New Finance Chief
- SILVER TO BECOME MORE VALUABLE THAN GOLD: Clif High Web Bot Interview — From CERN & Earthquakes… to Bitcoin & Silver
- Shanghai Gold Benchmark Price – New Kid on the Block
- Deutsche Bank Admitting Silver & Gold Rigging is NOT Significant – Chris Marchese
- Interesting Silver Debate: Do Old Indicators Matter Or Is Physical About To Overrun Paper?
- Robert Kiyosaki: Why the Ultimate Stock Market Crash Will Begin in 2016
- How to Profit as the New Gold Standard Takes Hold
- Ask The Expert – Marc Faber
- What Will You Use for Money When the SHTF, After the Collapse?
- The British Response To Obama "Why Should We Take Advice From A President Who Has Surrendered The World To Chaos?"
- Elite Heading for the Bunkers
- Chinese Dragon: Breathing Credit Fumes
- Ron Paul Asks "What Did Fed Chairman Yellen Tell Obama?"
- CFTC didn’t know of Deutsche’s market-rigging settlement until asked by GATA
- Full Event: Donald Trump's Huge Rally in Hagerstown, MD (4-24-16)
- US To Paint New Pictures on It's Dying Barbarous Relic of a Currency
- Gold and Silver Management of Perceptions
- Gold Miners Nub is the Sweat of the Sun
- US Dollar Price Forecast
- Hong Kong's gold exchange to work with ICBC in launch of Shenzhen services
- Breaking News And Best Of The Web — April 24
| Barrick Gold Turns to New Finance Chief Posted: 25 Apr 2016 12:08 AM PDT |
| Posted: 24 Apr 2016 11:01 PM PDT from jsnip4: |
| Shanghai Gold Benchmark Price – New Kid on the Block Posted: 24 Apr 2016 10:20 PM PDT Bullion Star |
| Deutsche Bank Admitting Silver & Gold Rigging is NOT Significant – Chris Marchese Posted: 24 Apr 2016 09:30 PM PDT from CrushTheStreet: |
| Interesting Silver Debate: Do Old Indicators Matter Or Is Physical About To Overrun Paper? Posted: 24 Apr 2016 08:45 PM PDT For as long as most gold and silver investors can remember, the paper markets — that is, banks and speculators placing bets with futures contracts — have set the price of those metals. And within the paper markets, “the commercials” — fabricators and big banks — have time-and-gain fooled speculators like hedge funds into piling […] |
| Robert Kiyosaki: Why the Ultimate Stock Market Crash Will Begin in 2016 Posted: 24 Apr 2016 08:30 PM PDT from Follow The Money: In this segment, Christian economist Jerry Robinson is joined by author/investor Robert Kiyosaki to discuss why he believes the biggest stock market crash in history could likely begin this year! (Actually, Robert made his prediction about 2016 being the beginning of a massive stock market collapse way back in 2002. The prediction appears in a book he wrote 14 years ago entitled Rich Dad’s Prophecy.) In this fascinating interview, Kiyosaki tells Jerry why he has pulled all of his money out of the stock market and provides compelling reasons why the stock market is likely to implode later this year. |
| How to Profit as the New Gold Standard Takes Hold Posted: 24 Apr 2016 08:00 PM PDT by Justin Spittler, Casey Research:
Over the past two weeks, Doug has been working on a special project. He's spent a lot of time with high-ranking government officials, trying to persuade them to back the currency with gold. Believe it or not, the government is taking Doug's ideas seriously… Unfortunately, we're not talking about the U.S. government. As you may know, America gave up on the gold standard in 1971. Prior to that, folks could exchange their U.S. dollars for a fixed amount of gold. This kept the government honest and prevented it from printing too much money. Today, U.S. dollars are merely paper, backed by nothing. Or, as Doug says, the dollar is an "I.O.U. nothing." • Not a single country uses the gold standard today. But that could soon change… Last week, Doug went to the African country of Zimbabwe with Nick Giambruno, editor of Crisis Investing. They met with high-ranking government officials and local business leaders to discuss a return to the gold standard. Less than a decade ago, Zimbabwe had one of the worst currency crises in history. The crisis began like most financial crises do. The government borrowed too much money. Government officials thought they could pay off the debt by printing money. This made the situation much worse. Inflation reached 624% in 2004, according to some estimates. By 2007, the country had "hyperinflation", meaning prices rose more than 50% each month. By November 2008, inflation peaked at 79,600,000,000% a month, according to the Cato Institute. Prices doubled every 24.7 hours. The only time inflation has been higher was in Hungary in 1946. The government printed 100 trillion dollar notes…the price for a loaf of bread reached 35 million dollars…and "starving billionaires" protested in the streets. • Zimbabwe's financial system collapsed… Stocks stopped trading on the country's stock exchange. In 2009, the country eliminated the Zimbabwe dollar. It now uses other foreign currencies like the U.S. dollar and South African rand. Zimbabwe is still in shambles. The economy is barely growing. Unemployment is staggeringly high. Food and water shortages are common. • Doug says a "gold reserve bank" could help restore confidence in Zimbabwe's banking system… The Herald, the country's main newspaper, reported last week.
The Herald continues.
Doug and Nick (pictured on the right) made front page news in Zimbabwe's The Herald:
• Nick says the idea was "very well received"… He thinks there's a good chance the government will implement a gold bank. This would make Zimbabwe the only country in the world with a gold-backed currency. Unfortunately, that's all we can say right now. Talks between Doug and Zimbabwe's government are ongoing. But Doug and Nick will reveal more about their trip in the next issue of Crisis Investing later this month. Nick will also tell readers how to easily invest in Zimbabwe. He's found a Zimbabwean precious metals miner with "explosive upside potential." |
| Posted: 24 Apr 2016 07:30 PM PDT from Sprott Money: Marc Faber discusses the global economy, the gold market and the outlook for the remainder of 2016. |
| What Will You Use for Money When the SHTF, After the Collapse? Posted: 24 Apr 2016 06:28 PM PDT from The Phaser:
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| Posted: 24 Apr 2016 06:05 PM PDT Following Obama's stunning foray into UK politics with his anti-Brexit oped (which surprised both the pro and anti-Brexit camp as there was little to be gained from Obama's gracious entrance of an elephant in a UK political China store) on Thursday evening, one person who had a rather visceral reaction was London Mayor Boris Johnson who slammed Obama's "hypocritical" Brexit diatribe and accused Obama "ancestral dislike of the British empire – of which Churchill had been such a fervent defender" on being part-Kenyan. Needless to say at this point any rational dialog ended, and even though Johnson had many valid points, they all got lost in the quasi ad hominem din. However, a far more tempered op-ed appeared in The Telegraph by Janet Daley, one in which she does not invoke Obama's African heritage, but rather his achievements, or lack thereof, in the global arena, and asks point blank:"Why should we take advice from a president who has surrendered the world to chaos?" Why indeed? I wonder who in Downing Street briefed Barack Obama's team on the wording of his friendly warning to the British. Somebody obviously pointed out that the population of this country retained a quaint obsession with the Second World War, and would therefore treat any reference to the glorious dead as irreproachable. So the President invoked the European graves of those American servicemen who died to protect – well, what exactly? I thought it was the democratic values and reverence for national independence that Britain shared with the US. Did Mr Obama have any sense at all that what he was now urging the British electorate to accept was precisely the surrender of those sacred principles of democratically accountable government and self-determination for which the combined American and British forces had made their ultimate sacrifice? Could this bizarre intervention have been more cynical or wilfully misinformed? In the end, it seemed to come down to trade advantages – to what might once, back in the day, have been called the global interests of US corporate capitalism. Mr Obama even made specific reference in his article in Friday's Daily Telegraph to the importance of current negotiations on the Transatlantic Trade and Investment Partnership (TTIP), which would reduce barriers to US business interests in the European Union. On the same day, 38 Degrees – a front group for the more proactive elements in the public sector unions – took out full-page newspaper adverts campaigning against the adoption of TTIP ("…no trade deal should give corporations more power than people"). If the Labour Left were not in such disingenuous disarray, they could be making a meal of this. In any event, unnamed US trade officials were being ominously quoted as saying that, in the event of Brexit, the UK would come very low on America's list of priorities for new trade agreements. Then Mr Obama himself abandoned such subtlety in his joint press conference with the Prime Minister. Should the UK go its own way, he said, there would be no trade agreement with the US any time soon. Maybe some time down the line, as he put it, we could work something out. But the UK would be "in the back of the queue" because the US would be dealing with the big boys. So this isn't a warning: it's a threat. Stay in the EU and make way for American competitors, or else. The iron fist of a message inside that velvet glove of carefully recited claptrap about the special relationship is that Obama's America wants us to stay in the conveniently monolithic, homogeneous trading bloc with which it can most easily do business. In other words, the tentative US economic recovery needs us to sacrifice our country's judicial independence and the primacy of our parliamentary system, just as the US once sacrificed so many of its young military officers for our survival. That's the deal. But there is no indication, either in Mr Obama's words or his actual foreign policy, that America would now be prepared to make another such sacrifice for its allies. The withdrawal of the US from world leadership – from being what Mr Obama's people refer to disparagingly as "the world's policeman" – has been one of the most dramatic developments on the international stage of the past eight years. Into the vacuum left by that withdrawal has stepped (or strode) Vladimir Putin, who can't believe his luck. At just the moment when Russian national pride desperately needed a renaissance after the mortifying collapse of the Soviet Union and the infuriating rise of all those Lilliputian upstarts in the old Eastern Bloc, along comes a US president who announces in no uncertain terms that America wants to pull out of the global power game. Make no mistake, this began long before the funk over removing Assad in Syria – which Mr Obama has outrageously blamed on David Cameron's failure to win a parliamentary vote – or the "leading from behind" fiasco in Libya, which Mr Obama also blames on Mr Cameron for having the audacity to think that the US might have been prepared to lead from the front. No, the Obama isolationist doctrine was there from the start: deliberate and consciously chosen. It began in his first term as president when he visited Eastern Europe and gave a series of speeches to make the point: the countries that had once required America's protection from a Soviet superpower were now emerging democracies and fledgling free-market success stories. They could take care of themselves militarily in future. The interceptor missiles that had been scheduled to arrive in Poland, courtesy of the US, would not be delivered. Although they had never been intended as any sort of threat against Moscow, Obama still allowed this move to be seen as part of his "reset" of relations with post-Soviet Russia. At home, this was presented as a refusal to pay forever for the protection of a Europe that was no longer threatened by aggressive Communism. The disproportionate share of the Nato budget that the US had been stumping up could be better spent on the kind of welfare and health provision that Europeans took for granted. All this suited Putin's self-image as a global strongman perfectly. America and the West had definitively won the Cold War, and were now apparently unconcerned that they might lose the peace. Putin saw clearly that no one would stand in his way when he launched his irredentist assault on eastern Ukraine. Not only did he annex Crimea but the forces he had unleashed shot a civilian airliner out of the sky – which might have been seen as a contemporary sinking of the Lusitania. He went from triumph to triumph, playing hard-faced poker against Washington's half-hearted attempt at chess. In the Middle East, Obama's White House scarcely shows any interest now that it is no longer dependent on the region for oil. It can only be roused to do what is minimally required to keep Americans safe from Isil terrorism. But permitting Russia's proxy, Assad, to remain in place in Syria, as American inaction does, drives every dissident in the region into the arms of anti-Western extremism, and puts American (and European) security at the mercy of a Russia-Syria alliance. Not to mention the salient fact that Assad's genocidal tyranny fuelled the migrant rush to the European borders. Was Mr Obama aware of that great success story of EU collaboration, in which an emergency was turned into an international tragedy by bureaucratic incompetence and a complete collapse of cooperative goodwill? The abandonment of border checks inside the EU, combined with the unilateral decision by Germany to encourage mass entry, created a living hell in which organised people-trafficking on an industrial scale became a fixture of life. When this referendum began, what seems an eternity ago, I was unsure how I would vote. Membership of the EU on a day-to-day basis is pretty much all gain for me, because I am an affluent professional who benefits from the supply of inexpensive domestic help, willing tradesmen and convenient travel that the EU provides. Unlike those whose wages are being undercut by cheap imported labour, or who cannot afford to buy their own homes because of the pressure on housing from unlimited immigration, I have lost nothing. But I believe in democratic legitimacy, which means paying attention to people who do not have my advantages. So should I go for self-interest, or for political principle? Watching this campaign, with its unscrupulous attempts to bully and terrorise a brave and conscientious electorate, has made up my mind. I shall be voting for Leave. |
| Posted: 24 Apr 2016 06:00 PM PDT Police around the nation are training for mass civil unrest. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  |
| Chinese Dragon: Breathing Credit Fumes Posted: 24 Apr 2016 06:00 PM PDT Submitted by Eugen von Bohm-Bawerk via Bawerk.net, Economic forecasting, no matter how complex the underlying model may be, is essentially about extrapolating historical trends. We showed last week how economic models completely fail to pick up on structural shifts using Japan as an example. On the other hand, if an economy doesn’t really change much, as in the case of Australia over the last thirty years, model “forecast” are generally quite accurate. However, spending millions of dollars to do the job of a ruler doesn’t seem like wise resource allocation to us. That said there’s obviously a very limited market for model based GDP forecast and most of them are not exchanged among pure market based players, but rather between governmental funded agencies. True, Wall Street spews out their sell-side GDP propaganda on a regular basis, but claiming international banking is anything akin to a free market is absurd. GDP forecasting is something only wasteful organizations do and that should tell you all you need to know about these exercises in futility.
Take the latest IMF forecast for China as a half decent example. According to the IMF, the credit junkie known as China, which needed one trillion dollar in fresh credit in the first quarter alone to create GDP “growth” of somewhere between 6.3 and 6.7 per cent (265 billion dollars for the quarter) will continue to race ahead with six per cent growth for the foreseeable future. The Chinese economy is 100 per cent dependent on ever more money and credit expansion to maintain its completely unsustainable momentum and will very soon come crashing down. And by the way, China’s reported GDP numbers are obviously grossly overstated anyway.
Peddling IMF-fiction though becomes even clearer when we reverse engineer their GDP forecast based on traditional growth models. We know the Chinese labour force is shrinking and the millions of underemployed peasants which used to be the backbone of China’s success are close to exhausted. As the labour force contracts and more resources are spent on taking care of the unproductive members of society savings, and hence investments, will also contribute less to growth going forward. So how do IMF economists come up with their 6 per cent forecast? Simple, they add to the total factor productivity assuming China with its credit dependence and excess capacity somehow will suddenly become much better at allocating and utilizing its resources. The problem with this line of thinking is that a more efficient resource allocation today will crush all those factories with excess capacity. In other words, to boost TFP a short term recession is a necessity. Avoiding the recession, id est using ever scarcer capital to fund zombie businesses will wreak havoc with future TFP growth. In conclusion, the chart below is utter nonsense as the internal dynamics between capital, labour and productivity does not add up.
True believers want to think China will continue to grow at breakneck speed and the IMF is feeding them what they want to hear to lift animal spirits accordingly. When the house of credit-cards comes crumbling down the IMF will once again be proven to have completely missed an obvious structural shift as the Chinese economy will linger on like Japan has done over the last three decades. |
| Ron Paul Asks "What Did Fed Chairman Yellen Tell Obama?" Posted: 24 Apr 2016 05:32 PM PDT As we reported yesterday, following the meeting held between Obama and Yellen last Monday, one reader tried to get some additional information on what was exchanged between the two most important people in the world beyond the cursory White House statement which is reposted below:
Dissatisfied with the token boilerplate language, the reader requested the minutes from said meeting. The Fed's response: "we don't keep those."
It goes without saying that with both the White House and the Fed eager to prevent the disclosure of what was said leaking into the public arena, that it had to be quite important. How improtant? Here is Ron Paul with his own take on the question of: "What Did Fed Chairman Yellen Tell Obama? Last week, President Obama and Vice President Biden held a hastily arranged secret meeting with Federal Reserve Chairman Janet Yellen. According to the one paragraph statement released by the White House following the meeting, Yellen, Obama, and Biden simply "exchanged notes" about the economy and the progress of financial reform. Because the meeting was held behind closed doors, the American people have no way of knowing what else the three might have discussed. Yellen's secret meeting at the White House followed an emergency secret Federal Reserve Board meeting. The Fed then held another secret meeting to discuss bank reform. These secret meetings come on the heels of the Federal Reserve Bank of Atlanta's estimate that first quarter GDP growth was .01 percent, dangerously close to the official definition of recession. Thus the real reason for all these secret meetings could be a panic that the Fed's eight year explosion of money creation has not just failed to revive the economy, but is about to cause another major market meltdown. Establishment politicians and economists find the Fed's failures puzzling. According to the Keynesian paradigm that still dominates the thinking of most policymakers, the Fed's money creation should have produced such robust growth that today the Fed would be raising interest rates to prevent the economy from "overheating." The Fed's response to its failures is to find new ways to pump money into the economy. Hence the Fed is actually considering implementing "negative interest rates." Negative interest rates are a hidden tax on savings. Negative interest rates may create the short-term illusion of growth, but, by discouraging savings, they will cause tremendous long-term economic damage. Even as Yellen admits that the Fed "has not taken negative interest rates off the table," she and other Fed officials are still promising to raise rates this year. The Federal Reserve needs to promise future rate increases in order to stop nervous investors from fleeing US markets and challenging the dollar's reserve currency status. The Fed can only keep the wolves at bay with promises of future rate increases for so long before its polices cause a major dollar crisis. However, raising rates could also cause major economic problems. Higher interest rates will hurt the millions of Americans struggling with student loan, credit card, and other forms of debt. Already over 40 percent of Americans who owe student loan debt are defaulting on their payments. If Federal Reserve policies increase the burden of student loan debt, the number of defaults will dramatically increase leading to a bursting of the student loan bubble. By increasing the federal government's cost of borrowing, an interest rate increase will also make it harder for the federal government to manage its debt. Increased costs of debt financing will place increased burden on the American people and could be the last straw that finally pushes the federal government into a Greek-style financial crisis. The no-win situation the Fed finds itself in is a sign that we are reaching the inevitable collapse of the fiat currency system. Unless immediate steps are taken to manage the transition, this collapse could usher in an economic catastrophe dwarfing the Great Depression. Therefore, those of us who know the truth must redouble our efforts to spread the ideas of liberty. If we are successful we may be able to force Congress to properly manage the transition by cutting spending in all areas and auditing, then ending, the Federal Reserve. We may also be able to ensure the current crisis ends not just the Fed but the entire welfare-warfare state. |
| CFTC didn’t know of Deutsche’s market-rigging settlement until asked by GATA Posted: 24 Apr 2016 05:00 PM PDT by Chris Powell, GATA:
Dear Friend of GATA and Gold: While it may be hard to believe, it seems that the U.S. Commodity Futures Trading Commission was unaware of Deutsche Bank’s agreement to settle a class-action lawsuit accusing it of manipulating the gold and silver markets until GATA repeatedly sought to bring the matter to the commission’s attention over the last week. The news of the settlement agreement broke with Reuters and Bloomberg News reports on Wednesday and Thursday, April 13 and 14:
http://www.gata.org/node/16375 http://www.gata.org/node/16380 The reports said that Deutsche Bank had agreed in principle not only to pay financial damages to the plaintiffs but also to provide evidence against the other defendants in the suit. Since the CFTC has jurisdiction over the U.S. commodity futures markets and since the commission purported to have undertaken a five-year investigation of the silver market, closing it in September 2013 upon concluding that there was no cause for action – http://www.cftc.gov/PressRoom/PressReleases/pr6709-13 — it was natural to seek comment from the commission about the Deutsche Bank news. So on Saturday, April 16, your secretary/treasurer e-mailed the commission’s news media office as follows, providing the Internet link to the Bloomberg News report: “Does the commission have any reaction to Deutsche Bank’s admission to manipulating the gold and silver markets, as reported by Bloomberg News this week? Is the commission responding to Deutsche Bank’s admission in any way? As you may recall, some years ago the commission reported that it had investigated the silver market and had found nothing improper. Is the commission reconsidering that conclusion? |
| Full Event: Donald Trump's Huge Rally in Hagerstown, MD (4-24-16) Posted: 24 Apr 2016 03:54 PM PDT Sunday, April 24, 2016: Full replay of the Donald J. Trump for President rally in Hagerstown, MD at Rider Jet Center. Full Speech: Donald Trump Rally in Hagerstown, MD (4-24-16) The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  |
| US To Paint New Pictures on It's Dying Barbarous Relic of a Currency Posted: 24 Apr 2016 02:17 PM PDT It doesn't matter. eMoney is the future, coming very soon. 2015.75 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  |
| Gold and Silver Management of Perceptions Posted: 24 Apr 2016 01:39 PM PDT Gold took a $20 hit after the European close today, moving down from 1250 to 1230. And the theme of the day seemed to be 'buy paper, don't worry' with the pushing of the SP 500 futures, even though techs kept threatening to roll over here on weak to bad earnings reports. |
| Gold Miners Nub is the Sweat of the Sun Posted: 24 Apr 2016 01:29 PM PDT Gold miners, because the number of discoveries was falling and existing deposits were being quickly depleted, have had to diversify away from the traditional geo-politically safe gold producing countries, ie Canada, the U.S. and Mexico. The move out of these “safe haven” countries has exposed investors to a lot of additional risk. In many parts of the world capitalist hating Marxist governments are becoming greedy. Many countries might come to mind as places where shareholders could, without warning, receive news that their operations have been taken over, expropriated, by the government and/or its friends, or that permits are suddenly suffering delays or have been cancelled outright. |
| Posted: 24 Apr 2016 01:20 PM PDT Is the US Dollar in a new bull market or is it about to crash? Opinions seem divided on this issue and mine is a mixture of both depending which time frame is used. Let's begin the analysis with the short term outlook followed by some big picture analysis. |
| Hong Kong's gold exchange to work with ICBC in launch of Shenzhen services Posted: 24 Apr 2016 07:17 AM PDT By Enoch Yiu The Hong Kong gold exchange has teamed up with Industrial and Commercial Bank of China (ICBC) to launch gold trading services in the Qianhai free trade zone in September, providing custodial and physical settlement service targeted at commercial users and precious metals traders, according to the exchange head. Haywood Cheung Tak-hay, the honorary permanent president of the 105-year-old Chinese Gold and Silver Exchange Society, said the exchange has teamed up with ICBC to use its gold vault in Qianhai as a temporary bonded warehouse for Hong Kong traders and manufacturers to store their gold. The service is considered useful for companies using gold to fashion decorative items, as the yellow metal can be stored before being fashioned into jewellery and other gold products at factories in Shenzhen. ... Dispatch continues below ... ADVERTISEMENT Silver Coins and Rounds with Employee Pricing and Free Shipping Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory. Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page. This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping. So go to -- -- and type "GATA" in the radio box at the top of the page. The local gold bourse plans to build a HK$1 billion permanent gold vault facility, including a bonded warehouse, trading floor, and related offices areas in Qianhai, however the project will take two years before completion, according to Cheung. "ICBC is the largest of 15 gold importers authorised in mainland China. It is the largest bank in the mainland and has an international branch network which could provide bank clearing and settlement services," Cheung said. "ICBC's Macau branch also handles gold import and export services. Teaming up with ICBC would connect Hong Kong, Macau, Qianhai and Shenzhen as a gold trading hub," he added. The Chinese Gold and Silver Exchange Society partnered with the Shanghai international gold board last year to provide gold trading and custodial services. Twenty-one Hong Kong financial companies are authorised to trade gold in Shanghai. The proposed Qianhai services is viewed as beneficial to Hongkongers, as it will enable trade in Shanghai and physical settlement in Qianhai. The service is believed to be particularly useful to jewellery manufacturers with operations in Shenzhen. It will also be possible for large dealers to ship their bullion from Shanghai to Qianhai, "The development of the gold industry will speed up the physical delivery process of gold trading in Hong Kong, Shanghai and Qianhai. Of China's 3,000 gold-jewellery manufacturers, 70 per cent have factories in Shenzhen, The bonded warehouse in Qianhai, which is next to Shenzhen, would make it much easier for them to access gold when needed," he said. Currently, jewellery manufacturers must transport gold from Hong Kong and Shanghai to their factories in Shenzhen, in what can be a lengthy process. Meanwhile, Hong Kong Exchanges and Clearing is planning to relaunch gold futures trading, according to Chief Executive Charles Li Xiaojia, although a launch date has not been announced. This comes only a year after the HKEx scrapped its gold contract last year owing to low trading volume. Cheung said he was not worried about competition from HKEx. "The Chinese Gold and Silver Exchange has knowledge and experience in trading and settlement of physical gold for 105 years. We have an electronic trading platform and we have the system to deliver physical gold for end users. If you look at the historical record, it shows we can compete with rivals," he said. Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
| Breaking News And Best Of The Web — April 24 Posted: 23 Apr 2016 06:19 PM PDT Suddenly, commodities are hot. Negative interest rates cause more trouble. Greece, believe it or not, is back in the news. The battle between physical and paper gold heats up. Deutsche Bank will soon start naming names — speculation about what this means continues. Best Of The Web Doug Casey: Commodities are the only cheap […] |
Has Doug Casey convinced the government to bring back the gold standard?
Sure, PHYSICAL silver and gold will be a necessity to survive the coming economic collapse and demise of the fiat Federal Reserve note. But it is critically important for preppers to engage with and be prepared to barter, and network with the the growing underground economy. This is how you will ultimately be able to survive the dollar crisis and the on-going economic collapse. As is often said, you can’t eat silver and gold. Here is what you need to be accumulating NOW. 
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