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Old 26-03-2015, 05:49 PM
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Default Whoever Owns The Gold, Makes The Rules



Whoever Owns The Gold, Makes The Rules

Over the next twenty-four months I believe we are going to see the golden rule reassert itself on the global stage. Anyone that has been paying attention has witnessed a “hoovering-up” of gold by the Eastern countries, in particular China and India. - Read more

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So, what is going to change?

Well, China is so disgusted with the whole process they have decided, thus far, not to participate in the “new” gold fix. As a matter of fact, they have decided there should be a gold fix based on the yuan (renminbi) and the price discovery should be handled in Shanghai at the Shanghai Gold Exchange.

The Shanghai Gold Exchange trades in actual physical product. The product is gold. When gold is bought or sold a person actually takes delivery of the gold.

That is not the case in London. In London the price is based two factors:

1) the “futures” market in New York. This is where people buy a contract for future gold. Gold that may or may not exist today but they are willing to purchase today and take “delivery” in the future.

2) The other factor is a very small group of banksters sitting around and determining what the price should be. You know, good-ole-boys club.
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