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Disco_Destroyer
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 Posted: Tue Aug 21, 2012 9:32 am Post subject: Gaddafi Gold Dinar As 'Regime Change' Motive? |
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Here for the next installment
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| Quote: | China Launching Gold Backed Global Currency!
China is busy recasting all of their gold reserves into smaller one kilo bars in order to issue a new ‘gold backed’ global currency. This is no doubt the reason for the recent trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. Expect to see more nations sign new trade agreements with China in the near future.
GATA now estimates that 80% of the gold supposedly stored in the allocated accounts of the bullion houses is long gone. Clients retrieving their allocated gold have had much trouble in doing so, and when they do manage to take possession, their gold does not bear the registered serial numbers they are supposed to. One can only wonder how much of the allocated gold is now 1 kilo bars.
Here is an excerpt from Jim Willie’s recent ‘Hat Trick Letter’
CHINA RECASTS GOLD BARS
China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initally used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based USDollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.
The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizeable portion of the new 1-kg bars available for retail investors and wealthy individuals in China. They will discard the toxic USTreasury Bond basis for banking. Two messages are unmistakable. A grand flipped bird (aka FU) is being given to the Western and British system of pounds and ounces and other queer ton measures. But perhaps something bigger is involved. Maybe a formal investigation of tungsten laced bars is being conducted in hidden manner. In early 2010, the issue of tungsten salted bars became a big story, obviously kept hush hush. The trails emanated from Fort Knox, as in pilferage of its inventory. The pathways extended through Panama in other routes known to the contraband crowd, that perverse trade of white powder known on the street as Horse & Blow, or Boy & Girl.
http://beforeitsnews.com/alternative/2012/08/china-launching-gold-back ed-global-currency-2451114.html |
_________________
'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
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Disco_Destroyer
Trustworthy Freedom Fighter
Joined: 05 Sep 2006
Posts: 6342
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| Posted: Tue Aug 21, 2012 9:34 am Post subject: |
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http://economictimes.indiatimes.com/markets/global-markets/chinas-fund -houses-gear-up-for-gold-etfs---sources/articleshow/15569741.cms
| Quote: | SINGAPORE/SHANGHAI: A number of Chinese fund managers are gearing up to launch gold exchange-traded funds (ETFs) to meet a growing domestic demand for alternative investment channels.
Guotai Asset Management, Bosera Asset Management and E Fund Management have got permission to develop gold ETFs with Shanghai Stock Exchange and Shenzhen Stock Exchange, company sources said.
China, the world's largest gold producer, is on its way to overtake India as the top gold consumer this year. China's gold investment demand more than doubled between 2009 and 2011, contributing to a 70 percent jump in overall gold demand, according to the World Gold Council.
Spot gold surged 43 percent during the period. So far this year, bullion has gained about 3 percent though prices are down 16 percent from a peak above $1,920 hit last year.
Fund houses said they are confident their products will appeal to investors looking for alternative choices as other investment channels, especially stock and property markets, have been lacklustre. The benchmark Shanghai Composite index is down about 4 percent so far this year.
"We believe the retracement in gold prices (from record levels) is good for investors in the medium to long term," a company official at Guotai Asset Management told Reuters on the phone, who declined to be named.
Gold ETFs are easier to trade than gold coins and bars, and require less capital than trading futures or spot contracts.
Hua An Asset Management is also among the fund houses preparing for gold ETFs, local media reported, but the company declined to comment.
PHYSICALLY BACKED?
Physically backed gold ETFs could boost demand for the precious metal in China, but the fund houses declined to give details on whether their planned products will be backed by physical gold |
_________________
'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
www.myspace.com/disco_destroyer |
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Disco_Destroyer
Trustworthy Freedom Fighter
Joined: 05 Sep 2006
Posts: 6342
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