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China, Singapore boost gold pricing campaign in push for Asia

* China markets yuan pricing to foreign exchanges

* Singapore looking to bring London pricing to Asia

By Manolo Serapio Jr and Koustav Samanta

SINGAPORE, Oct 17 China is marketing its yuan gold price to foreign exchanges and Singapore is looking at bringing London’s gold benchmark to users in Asia, in moves meant to boost the region’s exposure and influence in the global bullion market.

Home to the world’s biggest buyers China and India, Asia’s importance has been on the rise as the key source of demand for gold, but the region’s bullion traders are often exposed to intraday price volatility and foreign exchange risks with U.S. dollar-based benchmark prices being set out of London.

Shanghai Gold Exchange, the world’s biggest physical bullion exchange, will collaborate with foreign exchanges and allow them to use its yuan-denominated gold price in developing derivatives products, Chairman Jiao Jinpu told an industry conference.

The exchange launched a yuan-denominated gold benchmark in April as part of China’s bid to exert more control over pricing of the metal and increase its influence in the global market.

The latest move is an aggressive step by China – the world’s top consumer, producer and importer of gold – to market its pricing mechanism and aims for a bigger say in an industry long dominated by the London spot price.

“We would collaborate with various exchanges and authorise these external exchanges to start business outside China to use it as a basis for development of derivatives products,” Jiao told an industry conference through an interpreter.

Shanghai’s first deal will be signed with the Dubai Gold & Commodities Exchange next week, Jiao told reporters, adding that he expects more cooperation ahead.

“Some of the exchanges are approaching us,” he said. “Collaboration is a win-win for all. In Latin America and Africa I wish to offer more collaboration with them.”

China has baulked at depending on a dollar price for gold in international transactions and believes its market weight should entitle it to set the price for the precious metal.

cont. http://www.reuters.com/article/gold-asia-idUSL4N1CN3DW

That’s quite an optimistic view. I can’t really see the PTB giving up their position without quite a fight. Who knows … the Soviet Union did fall like a rotten apple.

Not wanting my government to spy on me is a matter of principal. I’ve done nothing that needs to be hidden but that doesn’t matter. Allowing the gov to spy on you is the first step towards a police state.

Would you be upset if they opened your snailmail letters and then sent them on. AFAIC it is the same thing.

Randgold Resources: Kibali Delivers Progress Despite Challenges

http://finance.yahoo.com/news/randgold-resources-kibali-delivers-progress-160817070.html

Premier announces Q3 production of 30,228 ounces of gold

http://finance.yahoo.com/news/premier-announces-q3-production-30-200000540.html

Gran Colombia Gold Provides Production Update and Details for the Third Quarter 2016 Results Webcast

http://finance.yahoo.com/news/gran-colombia-gold-provides-production-203000698.html

I freely give the TPTB everything. If they wish to learn from me why Aunt Tilly won’t go to Uncle Harry’s wedding….so be it. What brought the Soviet Union down was not Yelltsin  standing on a tank. It was decades of jokes promalgaded  at first by ordinary people and then reaching into the PTB.   It was over and everyone knew it. There was  nothing left to defend…let it go, it’s over. And so it shall be here in the USA.

http://www.zerohedge.com/news/2016-10-18/wikileaks-appears-have-just-released-its-first-insurance-file-fully-open-and-unencry

Huge amount of info and more to come unless Assange gets his Net back….has Lurch messed up yet again…..

Cook doesn’t care about the Bank part, he just wants the info all the transactions give him.

Data mining is what it’s all about.

I use DuckDuckGo as well. Who wants to use a search engine which spies on you, keeps a record of the websites you visit? Sounds like police state shite to me. Google acts like a subsidiary of the NSA IMO.

People go to auctions, small purchases, etc and need cash. The only other way they removed cash was with 20% interest rates and people turn in cash for an 18% CD. Or money market thing or even Bonds.

you will have to ask for credit and then they can make you a loan at interest.! The problem is the public  cant pay interest thats why they need cash ! GET RID of the BANKS ,you get rid of the PROBLEM ! Theres nothing more dangerous than an underployed Banker scheming and plotting to get your money ! If they cant get interest out of you then they go negative interest which means every month they steal a little of your capital instead.

Its just like the Final DAYS of ROME when the TAX collector needed money ,he grabbed you on the street and clipped a piece of your GOlD coin off ..YOU GOT CLIPPED was the expression of the day  thats what negative interest rates mean today …you getting clipped !   BASTA !  as the ITALIANS say !(enough already).

The fed is at WAR with its own BANKS ..liquidity is needed (cash) to keep the economy going .The BANKS hate it ! They rather foreclose on you ..take your assets …FU_K the Banks.save the economy !

that generates so much CASH and you dont trust investing in Stocks ,the next logical place is NOT to start a Bank !

with all that money .If the banks cant make anything when their cost of money is zero what makes you think you can ?  I understand the Politicians are after your money like hungry wolves looking to TAX it away from you !

Find a small business that needs cash to grow and help them grow.! Banking is NOT short of cash !

If you dont want to work hard growing another business ,then buy a STORE of VALUE ! GOLD ,Silver ,WHISKEY,ART, FARMLAND something that gets better with age and no work !

Others I Play? KLDX NGLOY BTG DRD RIC TCK VGZ GSS. Looking at others like GORO FSM ASM AXU plus many others.

kind of like Google is doing.

Kinda !!!!!Google are an out of control nightmare…Try and use an Android phone without signing up for a Google Account…I own a Sony walkman, which runs on Android…I downloaded a seperate browser, Dolphin so I could use the Web, without Chrome…Everytime i try to use the Web I cannot without having a Google Account.

Ubber is nothing but another data mine for Google, it makes damn all money, in the UK 4 Black Cabbies pay more tax than Ubber does.

I use Duckduckgo always a search engine, screw google.

Those are good ones.

It’s all vert well talking about the end of cash, when you are rolling in billions and have people who pay your bills, but there are vast numbers of normal people who don’t have his luck…I say luck, because he has create damn all….Jobs created what Apple is…anyway all those normal people need cash and they won’t take kindly to some stinking rich moron taking it away……and they will not buy his overpriced crap.

I don’t like this whole “ban cash” idea, on account of the incredible amount of control it would give the govvy over your life. Besides that it seems like Apple is easing it’s way into the NWO program of PC, socialism and total control over the population, kind of like Google is doing.

I’m starting to buy back in with AG CDE HL SAND AGI etc. TPTB imo are managing economies globally with higher and lower dollar. They ran $ up to help others and now its hurting USA and now they have to lower our dollar and hurt the others.

“end of cash = sad day for Freedom”

I have to agree with that. I have nothing against electronic pay but let’s keep our eye on the big picture as well.

Got my fingers crossed. Looking good today!

by Williambanzai7

is the Credit Card business..How long is it going to be before the bottom drops out of the credit Card business  when the consumer cant pay their DEBTS !  Raising Rates on consumers wont work ,it just makes it worse and the end comes sooner!   When Apple makes its telephone an electronic credit Card ..they will go down with the rest of the Credit Card businesses ..CASH will be KING     ….NOT CREDIT ….Apples TIM COOK is wrong about the FUTURE of CASH !  In one respect CASH is like GOLD …its NOT someones else liability !

In a World of Negative interest rates WHO wants to be a LENDER ? APPLE ????WHY ?    ITS a DEATH NOLL for LENDERS !  If the FED CANT RAISE RATES who wants to be a LENDER …..ITS OVER !

In the Depression CREDIT was destroyed ,then CASH became KING ,then the Banks hated CASH because THEY didnt make anything on CASH ,so they destroyed it and shrunk the MONEY supply ,then GOLD became KING …and it was the Revalue of GOLD that made cash come back when the Price was raised ,then credit came back !

Please tel TIM COOK that CASH will not disappear,it will be revalued ! its supply will diminish ! He can skip stage two and go directly to GOLD if wants to revalue his telephone ,make it GOLD PLATED !

Cook said. “We don’t think the consumer particularly likes cash.”..Its the BANKS ,not the CONSUMER.. STUPID !

Milton Friedman wrote a Whole book about “THE GREAT CONTRACTION”  cash didnt disappear it CONTRACTED in SUPPLY  !  ITS CALLED A DEPRESSION !     Some people NEVER LEARN ,its not DIFFERENT this time .The Fu__in Banks say Cash will disappear …it wont ! they dont make any money on CASH so thats what they tell you  .The Bastards.! A CONTRACTION in CASH caused by the BANKS will bring about the next “depression” ,or whatever name they want to call it.They will give it another NAME ,so they can claim they avoided a “Depression” …maybe like a “diminution of resources” or some other stupid spin…

We can avoid all this by shrinking the number of BANKS,so the burden on the public to support them will diminish ! TOO few supporting too many Banks!

you can SHORT the STOCK and kiss their ass good bye !  thats my view for what its worth !

TOO bad because they made a nice telephone !

an elderly man came to me for a JOB.I found he was very capable and smart .then he told me a story about his Pajama business ..Five brothers grew their business and each were getting older and didnt want their children to work as hard as they did ,so they sold the business and each walked away with over a million dollars(1968) that was a LOT of money !.This one brother decided to enter the House building business since he was a younger of the five .Over the next two years he found appliances were being stolen from his houses under construction and he lost control and lost aLL his money .There he was age 60 and unemployed and no money because he got into something he knew little about.

After I moved to Virginia I met a man who owned a Restaurant and served the finest Italian food ,very successful he was.he decided to move to Florida and invest in Commercial Real Estate ,you can guess at the outcome of this story.I met him two years later when he came back to Virginia broke at age 60 .Fortunately he kept the Real Estate of the Restaurant and was able to rent it out to Meals on Wheels.

Just because you are good at making telephones or running a Restaurant dont mean you are good at something else !  Do what you do WELL…is an old saying !

Monday 10/17/16 @ 13:20 post Re Metals? US Dollar Manually Adjusted Up Since Early Dec.
“Prediction:
By what I see, hear, and think, there is a VERY good chance the Dollar Index made a final top and GOLD a final bottom on Friday Oct 14th.