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Title: China Declared War On Wall Street And The City Of London
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URL Source: http://vidrebel.wordpress.com/2011/ ... street-and-the-city-of-london/
Published: Aug 30, 2011
Author: Video Rebel
Post Date: 2011-08-30 18:48:06 by Capitalist Eric
Keywords: None
Views: 2707
Comments: 1
China declared war on the City of London and Wall Street when they opened the Pan Asian Metals Exchange and PAGE the Pan Asian Gold Exchange. Their opening salvo will be fired in October when the Pan Asian Metals Exchange allows international investors to buy into a 90 day rolling spot gold contract which is for allocated gold. They already have a ten ounce mini-gold contract and a similar silver contract. The investor will have the choice of either take delivery of their gold or be paid in Chinese Renminbi. Major European and North American brokerages will allow investors worldwide to invest in the Pan Asian Metals Exchange. Six major Chinese banks will fix the gold price every morning at 8am their time. Currently, the price of gold and silver are set by the paper sale of silver and gold. The Federal Reserve is willing to pay JP Morgan, HSBC, Goldman Sachs and other banks hundreds of billions of dollars to short gold and silver. Currently the New York and London banks own and run the gold and silver exchanges COMEX and the London Bullion Market Exchange. HSBC also runs the gold Exchange Traded Fund (ETF) GLD and JP Morgan runs the SLV ETF. ETFs use some bullion and a lot of paper to simulate the spot price of gold and silver bullion. They are designed to siphon billions of dollars in investor funds away the bullion market to paper. Jeff Christian told us at the CFTC hearings that there is up to 100 ounces of paper gold and silver for every ounce of physical bullion. I have also written of leased gold where the UK and US governments lease their gold to a bank. The government is supposed to retain physical possession of the bullion and give the banks a certificate which is treated as gold. This paper gold is then sold five times and appears on the balance sheet of six banks as an asset. The Chinese will put an end to paper gold. They will set the price of bullion. They will allocate a bar of gold to every bar on sale in their futures market. This is called allocated gold. The LBMA and COMEX are alleged to have 90% unallocated versus 10% allocated. But I have hears of a married couple from the Mideast who had to threaten a lawsuit to get a ton of supposedly allocated gold back from their Swiss bank. And now Hugo Chavez has driven the market insane by demanding the return of his 211 tons of gold. Ben Bernanke is printing dollars as fast as he can to subsidize tens of billions of dollars in losing short sales. These new gold and silver investment products will be rolled out in October if not earlier. I have previously said that I expected silver to skyrocket by November. I also said that after silver goes through 53 dollars an ounce there will be no resistance to bullion going higher. When the New York and London stranglehold on the exchanges lose control, prices will jump. Of course SLV and GLD will be exposed for the scams which they are. If you can have a guarantee of allocated gold and silver, why would you do any business at all with the criminal bankers and Ponzi scheme operators of London and New York? Major London and New York banks, the LBMA, the COMEX, GLD and SLV are going down.
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From an interview where London whistleblower Andrew Maguire told King World News : Maguire continues: Just look at the scale of this to get an idea of how massive this game-changer will be, The Agricultural Bank of China has over 320 million retail customers and 2.7 million corporate customers and has integrated its customer account information system with this platform. By creating the first ever rolling spot contract, Chinese bank customers will for the first time have ease of access to 10 ounce gold contracts in Renminbi directly from their bank accounts and with the click of a mouse. To give a further idea of scale, if just 1% of their customers bought a single 10 ounce contract, that would equate to 1,000 tons of physical gold being drawn down.... “The impact on the price of silver will be even more pronounced. Silver is a much smaller market and already in tight supply. If just 1% of Agricultural Bank of China customers buy 500 ounces of silver, that would require 1.6 billion ounces of silver! I believe the leveraged and naked existing short side concentration in silver will be blind-sided by this. In my opinion it will create a massive short squeeze. None of this potential new physical demand has been factored in by analysts and I expect a large and unanticipated drawdown of physical gold and silver over the next few months, ahead of the international contracts going ‘live.’ One of the key points here... is that many of these shorts are naked and heavily leveraged. Thus for every physical ounce of gold and silver taken out of the physical market and into this new exchange in China, it will force many multiples of that to be covered in the paper market.” Considering how much the government and their croney-bankster friends have been gaming the system (and ripping off the general public), these thieves are about to get b!tch-slapped... When the public realizes how badly they've been robbed, the banksters will be lucky to escape with their lives. Time for tar and feathers... it's an American tradition!
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Top • Page Up • Full Thread • Page Down • Bottom/LatestThis morning London whistleblower Andrew Maguire told King World News that the launch of the new gold and silver exchange in China will destroy the remaining gold and silver shorts. Maguire stated, “The launch of this new gold and silver exchange has flown under the radar, but certainly has my attention. I firmly believe we are marking a pivotal point that will in very short order affect current precious metals price discovery dynamics. We now have an additional factor to be vended into the supply demand equation. This factor will ultimately destroy the remaining short positions in both gold and silver.”
“China is keen to diversify their cash holdings and is also encouraging citizens to make investments in gold and silver. The Pan Asia Gold Exchange is another step in this direction by opening up ease of access to physical gold and silver to their bank customers. This physical backed exchange is going to be a big game-changer.
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