Asheron
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"It's going to have a major impact on the demand side of precious metals equation," Andrew Maguire says
Former Goldman Sachs trader Andrew Maguire explains why he predicts China's new Pan Asia Gold Exchange will usher in a new demand for physical gold and silver in a new interview with King World News, which we've pulled key parts from and transcribed below.
"The Pan Asia Gold Exchange is going to send shockwaves through the mechanisms for the price discovery for both gold and silver. It's backed by China's state administration for foreign exchange and also the Chinese security regulatory commission. But the biggest bombshell is the offer of an RMB gold contracts for international investors.
"This is concrete evidence that China plans to bring the renminbi to the world stage. It's going to provide access to a much more physical market and I know it's going to attract a lot of the world's precious metal business, providing much more of the Chinese and the international customers an alternative platform on which they can buy and sell buy and sell physical gold and silver.
"Now the first contract is actually going alive this month and its a 10-ounce gold mini-contract for the domestic Chinese retail market, which really until now has been restricted to physical purchases, so this domestic contract should be fully operational this month.
"It's going to have a major impact on the demand side of precious metals equation. Especially as there are 320 million customers of Ag bank of China, who going to be plugged into this exchange platform from the off. ... If just 1% of their customers bought a single 10-oz contract, that would require new physical demand of 1,000 tons.
"Now this is welcome competition. And it should improve price discovery and dilute the effect of short side concentration.
"The impact on silver is going to be much more pronounced. We know silver is a much small market and it's already in tight supply. This is the tinder box."
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For sale 10 X Northwest Territorial Mint 1 ounce Silver Bar minted from .999 fine silver.
The obverse features a stylized number representing the bar size along with bar fineness and the Northwest Territorial Mint name, while the reverse contains "NWTMINT" repeated across the back.
Item Number: B10080
Product Type: Bullion
Size: 1 1/8 inch x 2 inch (29mm x 50mm) Bar
Material: 1 oz .999 Silver
1 troy ounce = 31.1034768 grams
Recorded Delivery, U.K Only, Insured Delivery Applies.
£295 Includes Free Special Next Working Day Delivery
Sold out on Ebay...
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For sale 10 X Northwest Territorial Mint 1 ounce Silver Bar minted from .999 fine silver.
The obverse features a stylized number representing the bar size along with bar fineness and the Northwest Territorial Mint name, while the reverse contains "NWTMINT" repeated across the back.
Item Number: B10080
Product Type: Bullion
Size: 1 1/8 inch x 2 inch (29mm x 50mm) Bar
Material: 1 oz .999 Silver
1 troy ounce = 31.1034768 grams
Recorded Delivery, U.K Only, Insured Delivery Applies.
£295 Includes Free Special Next Working Day Delivery
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Bob Chapman explains what 'Trading Over The Counter Gold & Silver to be Illegal starting July 15 ' really means...
Bob Chapman of the International Forecaster explains in details what the 'Trading over the counter gold and silver " becoming illegal starting from July 15 really means , he says you should not worry about it , it is not going to affect the general public of bullion gold and silver buyers this is a market for professionals the aim for this legislation is to create panic confusion among the public and scare them from longing gold and silver while shorting the dollar bob Chapman says it is psychological warfare and you should not worry about it....The Final words comes from the CFTC , it is not going to have a large impact on the market , it looks like Zerohedge which first brought this story was wrong about the significance and the magnitude of this story
http://www.youtube.com/watch?feature=player_embedded&v=_54eiKIhKJY
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Lindsey Williams : The Euro will collapse before the Dollar , the Dollar will be dead by 2012 , The second Mr X informed Pastor Lindsey Williams about all the crisis that are taking place in the middle east , in Egypt recently the Muslim brotherhood party become legal , the elite are going to give each of these countries to the Muslim brotherhood as they fall , in Libya ass soon as Gadaffi falls they are going to give the country to the Muslim brotherhood the same for Yemen and Syria but keep a close eye at what will happen in Saudi Arabia it is going to be the last country to fall , Saudi Arabia is where America gets most of its oil the royal family in Saudi Arabia will fall that's when you gonna see oil prices rising to $150 to $200 a barrel the us dollar will then collapse , do not worry about gold and silver prices says Pastor Lindsey Williams the elite are padding their pockets with gold and silver do not ever consider selling yours now the prices will go much much more higher , this is their currency , Gold is going to at least $3000 an ounce it is the only thing that will have any value when everything collapses ....America will default on its national debt , the federal reserve will declare default on its 14 and pass trillion dollar debt it is going to happen says Lindsey Williams , what ythe elite do is not about money the name of the game is CONTROL....
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Greek economic prospects darkened as European bickering risked delaying the next rescue payment and defections weakened Prime Minister George Papandreou’s majority.
An emergency session of euro finance chiefs in Brussels yesterday failed to break a deadlock on how to enroll investors in a second bailout without triggering a default, casting doubt on funds due from the International Monetary Fund next month.
In Athens, Greek police used tear gas to disperse demonstrators around the Parliament as 20,000 people rallied against wage reductions and tax increases as lawmakers debated the budget cuts and asset sales that are conditions of the aid. Ports, banks, hospitals and state-run companies were paralyzed by strikes, while a Papandreou ally said he won’t support the austerity measures and another bolted his Socialist Party.
Greek Prime Minister George Papandreou offered to step aside to permit the formation of a unity government, as long as all opposition parties agreed to cuts required by an international bailout, said a person with direct knowledge of the matter.
Papandreou’s bid, coming amid mounting popular protests and defections among his allies, countered a demand by the New Democracy opposition party that he quit and allow a so-called technical government renegotiate the terms of the rescue.
The political turmoil came as European Union talks on forging a new bailout to prevent the first euro-area default stalled. The impasse over the aid formula and speculation of an impending government shakeup sent Greek bond yields surging to a record high and the euro weakening today.
“When a government has so profoundly misjudged the anger, frustration and disillusionment in the population it is a matter of time until changes have to set in,” Jens Bastian, a visiting economist at St. Antony’s College, Oxford University in England, said in an interview.
Yields on 10-year Greek bonds neared 18 percent, the highest in the 17-nation euro area’s history. The slump pushed the extra yield that investors demand to hold Greek 10-year bonds instead of similar maturity German bunds to a record 1,491 basis points. The euro weakened 1.7 percent to $1.42 at 5:50 p.m. in London. The cost to insure Greek debt climbed to a record, indicating an about 75 percent chance of default within five years.
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Bob Chapman : Papandreu the Greek president is a communist , Greece is going to default , Bob Chapman does not advise Greece to do like Iceland rather to default and not to sign any agreements with the bankers cause all they want is Greek assets for pennies to the dollar , the northern European states do not want the Euro anymore ....33 Banks are going to go under , the ECB is on the hook for 650 billion dollars which they created illegally out of thin air just as the FED does , this will expand to England and to the US and there will be a collapse of some sort you should have dehydrated food for at least 6 months water filters and guns to defend your food and your family....
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FutureMoneyTrends.com believes just as gold went from $35 to $850 per ounce in a decade(1969-1980) and palladium went from $200 to nearly $1,000 in just 3 years(1997-2000), we believe over the next decade silver investors will be rewarded greatly!
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The first 12 hours of a U.S. dollar collapse...
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How did you do that
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<iframe width="425" height="349" src="http://www.youtube.com/embed/7aN4kVIQnao" frameborder="0" allowfullscreen></iframe>
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Bob Chapman not a bad day for gold and silver (15 June 2011 ) despite their efforts to knock it down , it turned up very strong, go long and stay long you won't go wrong , corrections are discounts for buying more gold and silver , Bob Chapman recommends the numismatic coins at present because the premiums are so low....go long you will never go wrong , you have no other safe alternative but gold and silver , corrections are discounts use them to buy more and hoard do not pay any attention to the day market just buy go long and stay long that's the only safe place where you can keep your assets safe you might even get rich , who knows .....
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Silver is now $36.40 oz
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I have been looking at the MSE savings and investment board for the past few days and they are still pulling anything that mentions silver.
All of the anti silver brigade seem quite pleased with themselves and have resorted to lies.
One thing I read,said that people were ramping silver and telling naive investors that silver was a no lose bet.
Most advocates of holding precious metals that I have come across give considered and well thought out opinions.
Then again they say that history is written by the winners,but our day will come.
Yes but even when Silver is $100 oz they will just say it's in a bubble, and still not care...
Some very deluded people on them Forums, sure multiple silver threads I agree were annoying but the BIG thread with about 18,000 views was causing no trouble.
Martin Lewis ordered that take down. But for what reason is unknown.
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For me because I know we are going to have an Inflationary Depression
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Anymore room in here?
Money Saving Expert really did show it's true colours the other day when they decided to Ban any posts related to Silver investment
Unbelievable...
This Gold & Silver Rally Will Be One Of The Most Powerful That We Have Ever Seen!
in Gold and other precious metals
Posted
Bob Chapman :
This is probably one of the most powerful rallies that you'll ever gonna see in anything not just in gold and silver , what happens is the manipulation by owners of the federal reserve JP Morgan Chase Goldman Sachs Citi Group HSBC and others to drive the price of gold and silver down did work to a certain extent but what they did do in that process is form a base a lower base than they had before and that base has been tested now 8 times , usually a base of support does not get tested more than 3 or 4 times , 4 is unusual 8 never happens , and when you have a base like that it is so powerful that usually beyond that you'll have a rally of a 100% to a 150% in both metals that's what's coming...
http://bobchapman.blogspot.com/2011/07/bob-chapman-this-gold-silver-rally-will.html