The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Wednesday, December 7, 2016

India takes war on cash to next level as they begin direct raids and confiscation of gold, jewelry, and cash from the people

Make no mistake, the government of India has declared war on its people, and only time will tell if their actions lead to a full scale revolution.

Back in November Prime Minister Modi declared the top two denominations of currency to no longer be valid as legal tender, and the populace had until Dec. 15 to turn in their monetary notes to their local bank.  However, this was met with a combination of trepidation and anger as the Indian economy runs primary on cash for transactions, with an estimated 98% of all commerce occurring using physical currency.

In response Modi suddenly cut short the time frame in which the people could trade in their now outdated bills and as a result, the people have rushed to jewelers to trade their stash of currency for gold and gold products.

And now we are finding out that the initial war on cash has suddenly shifted to a total war on wealth, or at the very least, a war on gold as news of armed raids on people, their homes, and their gold by the government is coming out from on the ground reports.

Global financial repression picks up steam, led by India. After declaring large denomination notes illegal, India now targets gold. 
It’s not just gold bars or bullion. The government has raided houses, no questions asked, confiscating jewelry. 
For background to this article, please see my November 27 article Cash Chaos in India, 86% of Money in Circulation Withdrawn; Cash Still King in Japan
Large denomination means 500-rupee ($7.30) and 1,000-rupee notes ($14.60), which account for more than 85 percent of the money supply. They are no longer legal tender, effective immediately. 
As one might imagine, chaos ensued. And it continues. - Mish Talk

Despite fall in paper price, gold demand at 5 year high as fears of a supply shortage causing global scramble for the metal

By now most precious metals investors should have realized that the old standard 'spot price' that once dominated gold and silver is on its way out, and acts as little more than a paper value for derivative contracts.  And this can be seen by the price divergence in spreads between the London Fix, and its competition over in China at the Shanghai market.

But until the London/Comex price is gone for good it still controls the buying and selling costs here in the West.  And thanks to the tremendous shorting that has occurred in the paper markets since the Presidential election that took place on Nov. 8, the over $200 drop in price has done little to depress the appetite of gold purchases as the month of November saw the highest amount of buying in the last five years.
Gold demand in November soared to its highest level since the end of 2011 as investors took advantage of a steep drop in prices for the yellow metal following Donald Trump’s win in the U.S. election, according to data from BullionVault released Tuesday. 
The Gold Investor Index, run by Internet-based metals exchange operator BullionVault, jumped to 59.3 in November—its highest level since December 2011. the index stood at 56.8 in October. - Marketwatch
What is making up this increased demand for gold are not just China and Russia, who have continued their massive buying of gold through November of this year, but the inclusion of several other nations such as Britain, Vietnam, the U.S., and of course, India, who have joined in to start exchanging their currencies for gold in their reserves.

Much of this buying is also coming from the fact that outside the dollar, people are losing confidence in global currencies, especially after this year's Brexit event, Venezuelan hyperinflation, and the more recent attack on cash by India's Prime Minister Modi.  And the increase in purchasing worldwide has suddenly revealed incredible shortages that could soon be the catalyst for breaking Comex control over their depressing the spot price of gold.
“For the first time in history, gold supply into the future is under enormous pressure.” The warning from Mark Bristow, chief executive of London-listed Randgold, encapsulates the gold mining sector’s woes. 
Bullion’s only modest price recovery this year compared with other commodities has led the industry to cut spending on exploration dramatically to less than $4bn from almost $10bn in 2012. 
Petropavlovsk, a gold miner with assets in Russia, is a case in point. It has cut its exploration budget by two-thirds. 
“There is a chronic shortage of exploration money and as usual the gold price is not acting in the way everyone thought it would do,” says Peter Hambro, chairman of the company. 
This backdrop has left many in the industry forecasting a supply shortage by the end of the decade. - Financial Times
As an investor it is not the time to be fooled by the paper selloffs or shorting that is occurring in the Comex and other Western markets, but rather a time to take a serious look at supply and demand, and the consequences of dying confidence in most global currencies.  Because the lowered price that is also being coupled with dwindling supply right now is a an opportunity of the decade for the precious metals, and should prove to be very profitable once the world moves completely away from London and New York's control over the market.

Tuesday, December 6, 2016

Islamic council overseeing Sharia finance approves new gold standard for Muslim investing

Following a month of open discussion and commentary, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has officially approved a new gold standard under Sharia financial law on Dec. 5.

Coordinating with the World Gold Council for much of 2016, the AAOIFI has formulated the processes and procedures for the 1.6 billion Muslims around the world, and in particular the 110 million Muslims who participate in active investing, to be able to purchase, own, and invest in physical gold and gold based products such as mining shares.

image
The sharia gold standard announced yesterday allows the over 110 million investors in the Islamic world to invest in: 
a) vaulted gold 
b) gold savings plans (such as GoldCore's GoldSaver) 
c) gold certificates 
d) physical gold ETFs including "probably" the SPDR Gold Trust, the biggest exchange-traded gold (GLD) 
e) gold mining shares (within certain Shari’ah parameters) 
We know three things that the new Shariah gold-standard will achieve: 
a) Increase diversity in the number of available Shariah gold compliant investment products 
b) Greater emphasis on the role of physical gold in gold transactions 
c) Islamic finance will have greater say in the setting of the gold price 
To some, this may appear to be an unnecessary formality taken by the body whose guidelines are followed by Islamic finance institutions across the world. After all, physical gold is Shariah-compliant and holds a unique status for Muslims. 
AAIOFI states, "From the perspective of Islamic Fiqh and the Islamic economic system, gold has its specific significance. This significance arises from the specific principles provided for gold and silver as Thaman in Shari'ah." 
According to Islamic texts, gold is a ribawi item, which means that it must be sold on weight and measure, and cannot be traded for future value or for speculation. In order for a gold instrument to be Shariah-compliant, the precious metal must be the underlying asset in related transactions. - Goldcore via Zerohedge
Perhaps one of the most interesting caveats in the new procedures for gold ownership and investment is the demand for Islam to have a greater say in the setting of the gold price.  And since we already now have a divergence out of Shanghai from the long-standing price determination set in London and New York each day, the potential of a third completely independent market could soon emerge in places like Dubai, Tehran, Indonesia, and even Saudi Arabia.

Monday, December 5, 2016

Turkey calls for citizens to dump their dollars and buy gold or lira as country looks to establish trade using own currency

It is still up in the air whether the failed coup that took place earlier this year in Turkey was from an outside agency, an Erdogan created false flag, or a grass roots engineered event.  But whatever the reason, the leader of Turkey has used this attempt to oust him from power as the impetus to initiate a pivot away from the U.S..

Shortly after the coup attempt back in July, Erdogan purged the government of any pro-U.S. officials and even threatened the long-standing NATO base housed in Ankara.  This of course forced Washington to move their missile cache held in Ankara to other locations, and for all intents and purposes exit a key regional position on the frontier of Russia which was had been used to try to isolate the Eurasian power.

But now it appears that this was just the first step by Erdogan in a new foreign policy where he is seeking to disassociate the country completely from the United States, and to solidify even greater ties with Russia and their growing Eurasian Economic Union (EEU).  And to do this he is now calling on all of Turkey's businesses and citizens to dump their dollar holdings and use the proceeds to buy gold or Lira as the end game looks to be a move towards establishing direct bi-lateral trade with Eurasia without the need for the U.S. dollar as a reserve currency medium.

Normally, any other country would find itself in a dilemma: how to lower rates as per the president's demands to stimulate investment and the economy, without killing the economy... but not Erdogan. As AFP notes, the Turkish president "urged" his fellow Turks on Friday to convert their foreign currencies into gold and lira to stimulate the country's economy as the lira continued its slide against the dollar. 
"For those who have foreign currencies under the pillow, come change this to gold, come change this to Turkish lira. Let the lira win greater value. Let gold win greater value," he said during a televised speech in Ankara. - Zerohedge
It is doubtful that President Erdogan has an acute understanding of finance, or what the devaluing of their currency means for their economy, but perhaps the real answer lies in the fact that the dollar's recent strength over the past month is creating the same monetary conditions that led to the Arab Spring events of five years ago, where a number of Middle Eastern governments were unable to afford to purchase dollars which could be used to buy commodities such as food to feed their hungry populations.

Thus the inevitable answer for Turkey (and others) appears to be in disassociating themselves completely from the dollar, and in negotiating new trade agreements in partnerships such as the EEU, through which they can use their own currencies that bypass the dollar.

"For those who have foreign currencies under the pillow, come change this to gold, come change this to Turkish lira. Let the lira win greater value. Let gold win greater value," he said during a televised speech in Ankara. 
Then overnight, Turkey continued its crusade against high rates, so critical to keep the currency from foundering, when it announced it would prevent companies from borrowing at high rates. The measure will be part of a broader package of economic steps due to be announced Thursday, according to state-run Anadolu Agency which cited Deputy PM Veysi Kaynak as saying in an interview on CNNTurk. 
“The rise in the dollar is certainly important, but the rise in interest is affecting our companies very quickly.” He added that the “prime minister will explain a package of measures that will touch the daily lives of our people,” and “relieve our companies financially,” including our banks." 
It was not exactly clear how government pressure to lower rates would help the plunging currency, however, in a surprising twist, one which likely seeks to isolate the Turkis Lira from its dependency on the US dollar, Erdogan said on Sunday that Turkey is taking steps to allow commerce with China, Russia and Iran to be conducted in local currencies, in what Reuters dubbed "the government's latest effort to shore up the tumbling lira." 
Speaking at the opening ceremony of a shopping mall in Istanbul, Erdo?an said that he had proposed Russian President Vladimir Putin to conduct trade between the two countries with local currencies. - Zerohedge
For years Turkey has been an important nexus point for both Europe and the United States as NATO used that frontier to Eurasia as a key juncture in both the Cold War, and in today's foreign policy to isolate Russia.  However, with Moscow offering much more accommodation to economic growth than what the West has provided in recent years, Turkey is now seeing their future as one standing outside the dollar, and is preparing for a pivot East that is laden with gold and bi-lateral trade.

Saturday, December 3, 2016

December Web bot report forecasts new round of banker deaths as pedophilia and Pizzagate publicly explodes in 2017

The Web Bot project is a computer algorithm created and run by a gentleman named Cliff High, and has proven to be an effective forecaster of future events based on the emotional, spiritual, and logical language from people around the world through their internet communications.

In regards to recent forecasts that were accurately determined, the Web Bots predicted an easy victory for Donald Trump in the 2016 Presidential election while the March Web Bot report forecasted a divergence beginning in gold pricing between London and Shanghai that would take place around November.

And if anyone has been reading articles posted here at the Daily Economist over the past month on the spreads for gold prices, you would see that this forecast on gold by the Web Bots was dead on.

Which brings us to an interesting new prediction that is coming out of the December Web Bot Report, and it entails the growing scandal that the media is attempting to cover up at all costs.  That scandal of course is known as Pizzagate, and it relates to the revelations discovered in the Podesta emails of a worldwide pedophilia ring that encompasses all aspects of the global elite.

Image result for pizzagate

Web Bot Summary for December 2016:
In the bonds subset, the sets are denoting a giant amount of chatter around the subject globally.  There are a number of geographic centers in the forecast globally that are all Western power centers, however there are also sets clustering around Saudi Arabia, Russia, and many Asian nations. 
There are also more sets accruing for the bonds and crisis globally set. 
Other far more lasting social changes are forecast to be 'bitch slapping' the dollar as the deflationary event of early 2017 slows, and as the pedophilia rings of the upper echelons of finance and banking will be reeling the #pizzagate scandal, as it rolls on and over many of the world's most powerful money people. 
The data sets are forecasting that another suicide wave will be visible over December and January as there is a hurried attempt to stop or block off the trails to power.
Image result for banker deaths

Keep in mind that the Web Bots massively nailed the banker suicide phenomenon that occurred a few years ago.

Sammy Davis Jr. with Anton LaVey, the head of the Church of Satan - a powerful organization that put a "Hollywood" facade on hardcore Satanism.

Sammy Davis Jr. and Satanist Anton LaVey

It is difficult for most people to wrap their heads around the idea that a global consortium of elite could be involved in a massive pedophilia and ritualistic program that has been happening for decades if not centuries in the Western world.  But all one needs to do is remember the scandals that broke out just in the last decade about the widespread pedophilia among Catholic priests that went on for decades and you realize that the Vatican itself is considered one of the centers of the world elites, and many even in power today had associations with satanic influences such as Anton LaVey.

The revelations concerning bankers, politicians, and other members of the elite involved in pedophilia and child sacrifice are just now being discovered, and the veil of secrecy is slowly being torn down using the very emails of those intrinsically involved in these horrific activities.  And just as it appears that the powers that be may have decided to keep Hillary Clinton from getting into the Presidency out of fear of what else might be revealed regarding Pizzagate, the chances of even more murders, 'suicides', and the cutting off of loose ends may soon be coming according to the Web Bots as the scandal of the new century gets more legs and finds more investigations erupting.

Demand for gold in the U.S., China, and India on fire as lack of trust in currencies signal a new coming crisis

In just the past month, and especially since the Nov. 8 Presidential election, the demand for gold throughout the world has increased at a rapid pace.

We have already documented the intense scramble for gold in India over the past three weeks as Prime Minister Modi began implementing the banning of some cash, and the institution of capital controls. But even with the selling off of gold in the Western paper markets that has seen the spot price drop by more than $200 in the past four weeks, it has done nothing to effect the physical gold markets where premiums have spiked to three year highs, and where a record number of U.S. gold eagles have been sold just in November by the U.S. Mint.

u-s-mint-gold-eagle-sales-2016

Graphic courtesy of SRS Rocco Report
Investment demand for Gold Eagles surged during the last day in November pushing sales to a new monthly record.  Not only did Gold Eagle sales for November reach a new record high for the year, it surpassed sales during the same month last year by 52%. 
It seems as if investors are once again taking advantage of lower gold prices.  I had planned to publish the article on Wednesday (last day of the month) showing that November sales hit a new record high, but the U.S. Mint updated their figures yesterday reporting another 20,000 Gold Eagles oz were sold on the 30th. 
So, as of Nov 29th, the U.S. Mint Gold Eagle sales reached a new high for the year of 127,500 oz.  Then they sold another stunning 20,000 oz in one day for a total of 147,500 Gold Eagle oz for November: - SRS Rocco Report
Over in China the process to exchange dollars for gold has shifted into high gear as the country that runs the world's largest physical gold market dumped hundreds of billions of dollars worth of Treasury reserves and used them to import nearly 1,000 tons of gold in just in the last quarter.  And premiums at the Shanghai Gold Exchange have soared to well over $30 per ounce as seen by the spread enacted between the Shanghai and London AM/PM price fixes.

While paper gold traders can't seem to dump the precious metal fast enough, physical gold demand is soaring around the world. India retail premiums are spiking (amid demonetization), local China premiums soar to a 3-year-high (as capital controls loom), and coin sales from the US Mint have risen for the 4th straight month, accelerating post-election to the highest since July 2015 since Trump's victory at the election. 
Following the initial panic-buying across India after Modi's demonetization effort shook the nation's faith in fiat currency (sending local gold premiums soaring), news of reported gold import curbs in China (and looming capital controls) has sent gold premiums in China near three-year highs amid limited supply of the precious metal (as Reuters reports)... 
The import curbs may be part of China's efforts to limit outflows of the yuan after the currency's slide to its weakest in more than eight years, traders say. China allows only 15 banks to import gold, including three foreign lenders. 
"There is severe restriction on the banks' quota to import gold into China. Each one of them have to justify their need," a Hong Kong-based banker said.
Gold was sold in China at about $24 an ounce above the international spot benchmark this week. Premiums went as high as $30 last week, the most since January 2014, according to Thomson Reuters data. - Zerohedge
When a market or sovereign government manipulates the price of a commodity, security, or equity contrary to the demand of that asset, the end result is always the same... a run on those assets similar to the way a populace would rush to clean out a grocery store in the advent of a natural disaster.  And as nearly all global currencies start to be rejected by their people in lieu of this year's concerted efforts to ban or restrict the use of cash, the worldwide run on gold appears now to be in full swing, and only 1% of the global population is aware of it.

Thursday, December 1, 2016

The difference between London paper price and Shanghai physical price now expanded to $32

As the dollar continues to stay above 101 on the index, the spot price of gold continues to get crushed in the Western paper markets.  In fact, ever since Nov. 9 when Donald Trump was declared to become the next President of the United States, gold has fallen over $200 despite increased demand in places like India, Russia, and Vietnam.

But starting back in April, London was no longer the only entity setting a daily price 'fix' for gold as the Shanghai Gold Exchange officially began its own price fix earlier this year to manage the trading of the precious metal during periods when both Europe and the U.S. were closed.

And for the rest of spring and well into summer, the spread between the two markets stayed relatively the same, with the London fix and the Shanghai fix only diverging by perhaps a dollar or two on any given day.  But over the past three weeks this has now changed as the spread between the Western paper market and the Eastern physical one has climbed to a massive $32 difference in the fix price.




Shanghai PM Gold Fix - Dec. 1, 2016


London AM Gold Fix - Dec. 1, 2016


As you can see from the price, the spread has now reached just under $32 per ounce difference.

If the spread continues to widen even further then it will open up two potentially lethal events for the LBMA and the COMEX.  First, it will cause miners who normally sell their gold production through these commodity exchanges to instead find it much more profitable to ship their metal to China and sell it on the SGE.  And secondly, the potential for a massive arbitrage will come into play where one or more big investors will buy up all the gold futures contracts and demand physical delivery at the lower paper price, which they will then sell their gold over in China and pocket the difference as profit.

For decades now the Western gold futures markets have been a vehicle in which central banks and the U.S. Treasury have manipulated gold prices in a scheme used to protect the dollar, especially during this era of massive money printing and zero percent interest rates.  But now that China has taken over as the world's largest physical gold market, more and more they are coming to set their own price for the metal, and it should not be too long before they officially wrest that authority away from both London and New York.

Tuesday, November 29, 2016

Donald Trump interviewing a potential Treasury Secretary who advocates gold standard and ending the Fed

If there is one thing you can say about President-Elect Donald Trump so far is that he has been very thorough in interviewing candidates for his administration.  From appointing a loyal supporter like Dr. Ben Carson to the position of Director of HUD while at the same time dumping former loyalist Chris Christie, to being willing to listen to and talk with a staunch adversary like Mitt Romney, to date Trump is sticking to his word in trying to finding the best person for the job no matter what side of the aisle they are on.

Yet one cabinet position remaining to be filled in his administration has seen as much contention as that of Secretary of State.  And so far the only real candidates interviewed have been those from the establishment, and tied to the banking cabal that are at the core of Washington's elite swamp.

Until now.

On Nov. 28 Donald Trump met with the former CEO of BB&T to perhaps discuss his potential to become the next Secretary of the Treasury.  And what makes John Allison unique is that as opposed to a banker from Goldman Sachs or J.P. Morgan who would strive to keep the status quo, Allison is a staunch advocate of returning the monetary system to a gold standard, and eliminating the Federal Reserve as the country's money printer.

On Monday, Trump will meet with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute. 
There have been reports that Allison is being considered for Treasury secretary.
Trump's has on the campaign trail questioned the future of the Federal Reserve's political independence, but Allison takes that rhetoric a step further. While running the the Cato Institute, Allison wrote a paper in support of abolishing the Fed. 
"I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed," Allison wrote in 2014 for the Cato Journal, a publication of the institute. 
Allison said that simply allowing the market to regulate itself would be preferable to the Fed harming the stability of the financial system. 
"When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult," Allison wrote. "Markets do form bubbles, but the Fed makes them worse." 
Allison also suggested that the government's practice of insuring bank deposits up to $250,000 should be abolished and the US should go back to a banking system backed by "a market standard such as gold." – Business Insider
What makes John Allison different than the string of too big to fail bank executives that have proliferated the office of the Treasury over the last several administrations is that BB&T is considered to be a mid-size regional bank, and not among the protected financial oligarchies that have a history of fraud and corruption, and who are reliant upon the expansion of cheap credit from the Fed to be able to continue running their criminal schemes.

With both Russia and China very open to a return to some form of a gold standard in international trade or reserve currency standard, the confirmation of a pro-gold standard Secretary of the Treasury would go a long way in helping Donald Trump to negotiate a currency reset to deal with the untenable debt that both the U.S. and most of the world are being suffocated under.  And this would also mean that the gold price would finally be released to climb to its true value, as the supply of metal would need to be valued much much higher to backstop the amount of currency and debt that are currently floating around the global financial system.

Monday, November 28, 2016

Newest banker scheme: tax on withdrawing money from your bank accounts

Despite the fact that taxpayers bailed out banks in the U.S. and around the world following the 2008 financial crisis, the 'masters of the monetary universe' did little to show appreciation for the people that saved them from bankruptcy due to their own greed and corruption.  And even with the ability now to borrow money from central bank discount windows at or near zero percent interest, a large number of banks chose to impose new fees on their customers under the guise of re-capitalization.

Ironically, when companies impose a charge on individuals for a service it is known as a fee, but when a government does the same it is instead called a tax.  And that is exactly what India, Greece, and perhaps soon even the United States is, or is planning to do, for people who choose to withdrawal cash out of their bank accounts in the future rather than using digital constructs to perform commerce.

war-on-cash
Greek banks have proposed a series of measures to combat tax evasion, strengthen the electronic transactions and limit the use of cash in the economy, and as KeepTalkingGreece.com reports, one of the measures proposed is a special tax on cash withdrawals. 
Bankers reportedly stress that cash money can easily and largely be channeled in the black economy. Therefore, a tax on cash withdrawals will drastically reduce cash transactions and by extension the black economy. 
The bankers suggest that also credit and debit cards as wells as new technologies enabling cash-less transactions even for small amounts  and mobile phones can be used for the purchase of a transport ticket or a newspaper at the kiosk. 
The bankers proposal to the government also includes: 
-Mandatory use of cards or other electronic payment networks for every transaction with professions where there is strong evidence of tax evasion or where cash is mainly used [ like bakeries, kiosks, street vendors and chestnut sellers?]. 
-Mandatory use of cards or electronic networks for transactions above a certain amount [this measure is already in effect]. 
–Reforming the tax system by introducing a revenue-expenditure system. Households or professionals will only be taxed on the amount of income that is has not been spent. In this way, households and professionals will have a strong incentive to seek receipts for any expenditure in order to increase their expenditure and reduce the tax amount they will have to pay. 
-Obligation for all businesses and regardless of their size to pay electronically every salary and wage. (source: Kathimerini via Liberal.gr) - Zerohedge
Over in India, Prime Minister Modi has already implemented a 45% transaction tax on deposits that the government arbitrarily believes come from illegal or 'black market' commerce.  And these two countries (India and Greece) are not the only nations with plans to impose a tax on cash withdrawals as this has been in the works for a few years in the halls of the Fed and Congress.

Greece is the first country to push for a carry tax on physical cash. It won’t be the last. This policy has been floating around in Central Banking circles for years. The fact that it’s now being openly promoted only proves how desperate the elites are getting about the state of the financial system. 
Watch, the moment things turn south in the US in a big way, similar proposals will start cropping up here too.

Sunday, November 27, 2016

Spread between London paper gold price and Shanghai physical price now at $15

Over the past 35 days the spread between the daily AM and PM gold price fixes set in London and in Shanghai have steadily moved apart as the physical markets in China break away from the prices set in the Western paper markets.

Back in late October we began to see the difference in price grow to around $5, with the spread then moving to a difference of $7 just two weeks later.  But with the London and Comex paper markets crushing the paper spot price back under $1200 per ounce since the Presidential elections on Nov. 8, the physical markets in Shanghai have not seen fit to accept these prices based on the actual rising demand in their own exchanges, and are reflecting it in price as the spread on Nov. 25 is now a whopping $15 difference.

The gold premium on the Shanghai Gold Exchange soared as high as $30 Thursday before easing back to a still historically high level of around $15 on Friday, reports MKS (Switzerland) S.A. On Thursday, the “feature of the day was the SGE premium, which rose to an amazing $30 over the loco London gold price, the loftiest levels seen since 2013,” says Sam Laughlin, precious-metals trader with MKS. “The difference between then and now, however, is now the high premium seems to be more a factor of a supply shortage in mainland China as opposed to outright demand. As a result, despite the high premiums this week, the turnover has not been anything enormous.” The premium fell by roughly half on Friday, he continues. “While still elevated, we did some fatigue creeping into the Shanghai premium today, 'easing' to around $15 relative to loco London gold.” - Kitco
London Gold Fix, November 25, 2016

Shanghai Gold Exchange Gold Fix, November 25, 2016

As central and bullion banks in the West continue to beat down the price of gold in their paper derivative markets, the spread between the Asian physical and Western paper gold prices will continue to widen.  And at a certain point, producers of gold will find it much more profitable to simply ship their metals directly to China rather than to continue to supply the Comex or LBMA, who's manipulation of the spot price using 100's of naked short contracts no longer reflects the true price of the precious metal.