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Showing posts with label sge. Show all posts
Showing posts with label sge. Show all posts

Monday, October 17, 2016

China's Shanghai Gold Exchange (SGE) initiates next step towards being a part in setting global gold prices

On Oct. 17 China's Shanghai Gold Exchange (SGE) announced they will be collaborating with other global markets to allow gold pricing in Yuan to be part of the price set for derivative contracts.

In his announcement on Monday, SGE Chairman Jiao Jinpu sought to initiate the next step for China to play a large role in setting the price for the precious metal that has long been under the control of London for more than a century.

Shanghai Gold Exchange Chairman Jiao Jinpu said on Monday that the bourse will collaborate with foreign exchanges and allow them to use its yuan-denominated gold price in developing derivatives products.  
"We would collaborate with various exchanges and authorise these external exchanges to start business outside China to use it as basis for development of derivatives products," Jiao told an industry conference through an interpreter.  
Jiao was referring to the Shanghai Gold Exchange's yuan-denominated gold benchmark, which it launched in April in an ambitious move to exert more control over pricing of the metal and influence in the global bullion market. - Economic Times.India Times
In addition to the SGE's goal of being a part of the global gold and derivative price determinations, the Singapore Bullion Market Association also reported on Monday their initiation of a joint study between themselves, the LBMA, and the Intercontinental Exchange Benchmark Association (IBA) on connecting the London gold price mechanism to Asia, where China and Singapore could then have a say in the pricing of precious metals in overnight trading rather than allow bullion banks and investors to hijack the markets when U.S. and European bourses are closed.
The Singapore Bullion Market Association, London Bullion Market Association and Intercontinental Exchange Benchmark Administration (IBA) will launch a joint feasibility study on the development of "LBMA pre-AM gold price at 2 pm Singapore time", Lim Hng Kiang, minister for trade and industry and deputy chairman of the Monetary Authority of Singapore, told an industry conference on Monday. 
The study "is an important first step towards establishing a U.S. dollar price discovery mechanism for gold during Asian business hours," said Lim. "When in place, it will facilitate the timely tracking of Asian demand and allow participants in Asia to settle their trades within the same business day." 
"We hope to make a reputable gold benchmark mechanism in London available to Asian users," the Singapore Bullion Market Association's chief executive, Albert Cheng, told Reuters. - Reuters

Tuesday, April 19, 2016

With Shanghai now establishing a new price discovery, Russia wants to join with China to create joint Eurasian gold market

April 19 was a monumental day for the global physical gold markets, with the Shanghai Gold Exchange (SGE) setting a new price to compete directly with London and the U.S. Comex.  Yet this move is just the first of many in China's long-term strategy to bring about a worldwide return to a gold standard.

And now it appears that they won't go it alone as on the same day of China's gold price determination for the world's largest gold market, Russia wants to join in as their central bank is now in talks with Beijing to create a joint Eurasian market that will be almost bigger than the Western metals markets combined.


The Bank of Russia and the People's Bank of China want to create a joint platform that would unite gold trading by the world's two biggest gold buying countries.
“BRICS countries are large economies with large reserves of gold and an impressive volume of production and consumption of this precious metal. In China, the gold trade is conducted in Shanghai, in Russia it is in Moscow. Our idea is to create a link between the two cities in order to increase trade between the two markets," First Deputy Governor of the Russian Central Bank Sergey Shvetsov told TASS. 
China is the world's largest gold producer. Last year it produced 490 tons. Russia is third after Australia with about 295 tons produced last year. Overall, the countries make up 25 percent of the world gold production. 
At the same time, the central banks of Russia and China are the world’s biggest gold buyers. Since the end of 2008 the gold reserves of China have nearly tripled - from 600 to 1,762 tons. 
Among the countries with the largest gold reserves, China is fifth and Russia is sixth after the US, Germany, Italy and France. - Russia Today

Outside of 'official' gold reserve tally's, it is estimated by insiders that both China and Russia own more than 40,000 tons combined, which would be greater than all reported reserves held in Western central banks.

It's Official! China sets new Yuan denominated gold price at Shanghai Gold Exchange

On April 19, China officially validated the rumor and initiated a new Yuan denominated gold price at the Shanghai Gold Exchange (SGE).

Officially setting the opening price at 257.97 Yuan, or $39.87 per gram, China has now thrown down the gauntlet against London and the Comex for control over the global physical gold market.


China launched its yuan-denominated gold benchmark on Tuesday in Shanghai as it seeks to secure more sway in the pricing of the precious metal.
The Shanghai Gold Benchmark Price (code: SHAU), is the quote for trading of 1kg, 99.99 percent purity bullion, denominated in the Chinese yuan and derived from multiple rounds of trading. 
The benchmark was set at 257.97 yuan per gram on Tuesday, the Shanghai Gold Exchange (SGE) said in a statement. 
The benchmark also lays the foundation for shifting bullion trading in Shanghai from mostly spot to derivatives to increase the appeal of yuan-denominated bullion trading as financial instruments for both domestic and global investors. - People.CN

Saturday, April 16, 2016

Financial events of this last week may be leading to devaluation or even collapse of dollar within weeks

Earlier this week, there were two major financial events which occurred with little fanfare by the mainstream media, but could be leading to profound consequences for the dollar and the future of the global reserve currency. On April 15, long time Wall Street metal and bond analyst Rob Kirby forecast in an interview on USA Watchdog that the revelations by Deutsche Bank of gold and silver manipulations are just the tip of the iceberg, and that major devaluations or even a crash of the dollar could be coming as quickly as the next few weeks.


In his interview with Greg Hunter, Rob Kirby expressed the point that these manipulations go far beyond simply domestic and foreign banks participating in the de-frauding of the gold and silver markets, and that if you follow the money, they lead directly to the U.S. Treasury Department and Federal Reserve. And this alone could explain the sudden 'emergency' meeting that took place on Tuesday when Federal Reserve Chairman Janet Yellen called for a meeting with President Obama and Vice President Biden at the White House.

Friday, April 15, 2016

When the SGE declares its own gold price next week, the arbitrage battle for gold really begins

April 19 is the expected day the Shanghai Gold Exchange (SGE) is to declare its own Yuan denominated gold price in the world's largest physical gold market, and we are now less than four days away from what could be a radical sea change in the entire precious metals industry.

This is because no one yet knows at what price the SGE is expected to open with next week, but since the market currently marks up gold sales with as much as a 40% premium already, chances are extremely good that it will be much higher than the price long controlled by London and the U.S. Comex.

And should this truly be the case, where China announces a price that is greater than the Spot price determined in Western markets, then part one of China's gambit will be revealed, and it involves an arbitrage scheme meant to entice a shifting of all metals Eastward, using the greed of the West to accomplish this.

An arbitrage is when one market buys or sells an asset at a much different price than another market, allowing customers and investors the chance to skim profits from the difference between the two prices.  And an example of this would be if the SGE offered a buy price of say $1600 in U.S. dollar equivalent, where the current Comex spot price is $1235.  This difference in price would trigger a run on the Comex, where investors would try to buy up all available gold contracts, demand delivery, and then sell it to the SGE and collect the difference in profit.  The result of course is that the West would suddenly be drained of all their gold, and now China would have sole control over the global gold market.

Analyst Dr. Jim Willie also spelled this out in an interview he did earlier this week.

The Chinese attack within the Gold market could hit Satanist bankers where they live, in the fire of mid-April.... The arrival of the Gold futures contract in Shanghai poses an additional risk for the Western banker cabal, a grand crime syndicate which extends to the energy firms, the military industrial complex, the big pharmaceutical firms, and the press networks. 
A real valid bonafide Gold contract which delivers physical gold would enable vast arbitrage to buy cheap in London and sell dear in China. Any acceleration in the arbitrage activity, combined with any sincere attempt to set the Gold Fix in a reasonable manner that puts equilibrium as priority, and the Western bankers will face the USDollar kicked to the curb and possible global boycott. - Rogue Money
It is no coincidence that one time London Gold Fix committee member Deutsche Bank came out yesterday and admitted to the fraud and manipulation that has long taken place in the Western gold markets, and these revelations will provide China a strong boost for their new pricing mechanism if/when it comes out next week.  And besides just investors rushing to leave the Comex and begin participating in the SGE, a more important group of metal players will just as likely do the same, and they are the miners and refiners of gold and silver who will gladly take their production and move East to finally get a price worthy of their output.

Thursday, April 14, 2016

Deutsche Bank admits to precious metal manipulation and is expected to name other banks involved

For years the alternative media, gold bugs, and organizations like GATA have been screaming to Main Street on how the price of gold and silver have been manipulated by the banking system to protect the dollar.  And despite the fact that the very markets who control the gold and silver prices show on their own books that contracts out number the actual amount of metals available by ratios as high as 542:1, rarely has any bank or market maker ever admitted to participating in the rigging.

Until now.


Deutsche Bank AG has agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors, a court filing on Wednesday showed. 
Terms were not disclosed, but the accord will include a monetary payment by the German bank, a letter filed in Manhattan federal court by lawyers for the investors said. 
Deutsche Bank has signed a binding settlement term sheet, and is negotiating a formal settlement agreement to be submitted for approval by U.S. District Judge Valerie Caproni, who oversees the litigation. 
Investors accused Deutsche Bank, HSBC and ScotiaBank of abusing their power as three of the world's largest silver bullion banks to dictate the price of silver through a secret, once-a-day meeting known as the Silver Fix. 
According to the lawsuit, the defendants distorted prices on the roughly $30 billion of silver and silver financial instruments traded annually, violating U.S. antitrust law. 
UBS AG was also named as a defendant. Investors accused the Swiss bank of conspiring to exploit the Silver Fix, though it did not help set the benchmark. - Reuters
Interestingly, this admonition comes less than a week before China is begin setting its own gold price fix, and set in motion an arbitrage that will pit the East vs. West in who will have control and dominion over gold and silver.

Monday, November 9, 2015

Got Karatbars? We could be less than a month away from China taking control over the global gold price

Back in June of this year, the newly created Shanghai Gold Exchange (SGE) announced plans to establish their own gold price between now and the end of the year.  And with the SGE being the only true physical gold market currently operating where customers buy and sell gold for cash based on an actual price, it would be only natural that China earns the right for price discovery over the London and Comex facilities who only deal in paper gold contracts.

Yet even this is just the beginning of a full fledged shift away from Western control over all facets of the monetary system, and a return to sound money where currencies are backed by gold in some capacity.  The rise of the Yuan as a global medium for trade is accelerating at tremendous rates, and their accumulation of what some believe to be 30,000 tons or more of gold will only solidify the belief that once the dollar's power is broken, then the world will rush back to a gold based system.
On June 25, a representative from the Shanghai Gold Exchange announced that they are planning on establishing a new physical gold price mechanism by the end of the year that will compete with London and the U.S. Comex. Expected to be denominated in Yuan, this new gold price platform comes less than 10 days after China became the first Asian country invited to be a part of the London gold fix, and unlike the U.S. Comex, will deal in direct physical gold sales rather than in paper futures and derivative contracts.  
When the Shanghai Gold Exchange (SGE) opened in 2014, it set out to usurp the West's control over gold and their pricing of gold through the paper markets. And in less than a year, the SGE has created the world's largest gold fund, and is now ready to take over pricing and price discovery for the monetary metal. In fact, sources claim that right now premiums on large sales of gold bullion are ranging as high as $600 over the current paper spot price. - Examiner

For more than 40 years the world has experimented with a purely fiat form of money, backed by nothing except government confidence, and military might.  But the problem is and has always been the fiduciary irresponsibility of government's to control their monetary supplies, and as we saw just recently from U.S. Treasury Secretary Jack Lew, Washington cannot function and would collapse if they do not have the power to borrow more and more money, and increase the debt load to just under $20 trillion by the middle of 2017.

“At that point, we expect Treasury would be left with less than $30 billion to meet all of the nation’s commitments—an amount far short of net expenditures on certain days, which can be as high as $60 billion. Operating the United States government with no borrowing authority, and with only the cash on hand on a given day, would be profoundly irresponsible. 
As I wrote previously, we anticipate that a remaining cash balance of less than $30 billion would be depleted quickly.” - Jack Lew in a letter to Congress, Fortune
So as the world rushes headlong towards a crossroads, where monetary and economic collapse is inevitable since most nations have hyper-inflated their currencies through the printing of unprecedented money, what is the one thing that will protect you from whatever comes, and prepare you for the new system that is by all accounts expected to be based on gold?

The solution may be in a company called Karatbars




Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, Karatbars is working on a new e-wallet system that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.


The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.