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China Is Laying The Foundation For The Next World Gold Standard System

Posted on 06 May 2016

On April 19, the Shanghai Gold Fix officially began. The pricing mechanism is intended to be a replacement for the London Gold Fix, the primary price-discovery mechanism for gold bullion today. The London “bullion” market is not a market in bullion.
Rather, it is a market in “unallocated” gold, defined as an unsecured liability of banks. In short, it looks suspiciously like an exercise in paper-hanging. The London Bullion Market Association claimed 21.95 million ounces of “net” clearing per day on average in 2013, worth about $27 billion. Estimates of “gross” trading are considerably higher than this………………………………………..Full Article: Source


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