Saturday, January 6, 2018

Gold analysts believe that the days of the paper trading schemes in New York and London are numbered

With many parts of the world opening up new gold markets that specifically deal with physical gold sales, and futures contracts that actually welcome physical delivery, the long standing control over gold prices in the West may soon be coming to an end according to a growing number of gold traders and analysts in the sector.

Over the past three years, China, Russia, Dubai, and very soon Kyrgyzstan, are just a few of the countries opening up major gold markets to deal with the buying and selling of physical gold.  And as opposed to New York and London, which sell nearly 10 times more paper gold ounces than the actual global production of gold each year, it will not be long before these physical gold markets wrest control over the price from the fraudulent markets that fix prices to protect their fiat currencies.

According to Claudio Grass, of Precious Metal Advisory Switzerland, the total trading volume in the London Over-the-Counter (OTC) gold market is estimated at the equivalent of 1.5 million tons of gold. Only 180,000 tons of gold have actually been mined up to today. 
"The paper scams in London and New York will either blow up when the paper price of gold drops to zero or when just a fraction of investors insists upon receiving physical gold in return,” Grass told RT. 
BRICS countries led by Russia and China are considering launching a gold standard based on physical gold. 
“This will present a viable challenger that could over time lead to a break up of the current system since the West will likely still trade paper gold in the meantime,” said Grass. – Russia Today
And we may already be seeing this disconnect from the paper markets here in 2018 as the amount of time it takes to recover from a paper dump into the market has declined to just days, hours, and even minutes.

3 comments:

I've been waiting for the moment from thousand years ago.

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The only thing I am interested in is on the day when Comex and LBMA blow up, how much physical gold they will be asked to deliver.

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