TurtleIsland1: he Hong Kong Exchange & Clearing’s (HKEX) new physical gold contract “We are going to finish it up, make sure things
HKEX gold contract launch likely in Q1 2017
The Hong Kong Exchange & Clearing’s (HKEX) new physical gold contract will likely only be launched in the beginning of or the first quarter of next year, Charles Li, chief executive of HKEX, said on Monday.
The exchange had said that it hoped to launch the contract in the second half of this year, though Li had said during LME Week Asia in June that will be launched in September. Li, however, downplayed the later launch timing saying that it “is not a delay”.
“We are going to finish it up, make sure things are right. Also, there is a regulatory angle,” he told reporters at a press briefing at the FT Commodities Asia Summit here on Monday. “This is the first time we are introducing a physically settled gold contract and we want to get it right,” he said. One of the key features of the contract is that it is traded simultaneously in US dollar and the offshore yuan, in which the exchange hopes to offer arbitrage opportunities to market participants via the contract.
The contract is likely to appeal given the region’s affinity for gold kilobars of 99.99 percent purity and the fact it will offer physical delivery in Hong Kong vaults, sources told FastMarkets back in December. but it faces strong competition – already serving the region’s needs for yuan-denominated gold are the Shanghai Gold Exchange and its international subsidiary, the Shanghai Gold Exchange International (SGEi). – See more at:
https://www.bulliondesk.com/gold-news/ft-summit-hkex-gold-contract-launch-likely-q1-2017-li-119982/#sthash.BVxSdwFm.dpufh.BVxSdwFm.dpuf
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TurtleIsland1: The World Is Hanging By A Thread, On A Frightening Road To Perdition
September 04, 2016
With continued uncertainty in global markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, warned King World News that the world is now hanging by a thread, on a frightening road to perdition.
Egon von Greyerz: “Since Reagan came to power in 1981, the US has had a total of five presidents who in their desire to hold on to power, have spent ever-increasing amounts of money to hang on to power and buy votes. This has resulted in the most extraordinary money printing venture in history. It is not just central banks that print money…
In Volatile Markets, Is Wealth Preservation King?
In a King World News interview I spoke with the man who predicted the Swiss National Bank would experience staggering losses and that the Fed would also experience massive losses that will destabilize the global financial system!
Egon von Greyerz continues: “Governments that borrow vast amounts of money are also performing a printing function since money is created out of thin air. And even worse than that, the US government neither has the intention, nor the ability to ever repay the debt with real money. Thus the US debt can only evaporate when the country defaults. Since there is no other way of eradicating this debt, a default by the US is guaranteed to take place in coming years.
Forget Helicopter Money, Jumbo Jet Money Creation Is Coming
But before that the Fed and the government will flood the market with jumbo jet money since helicopter money won’t suffice. Jumbo jet money will create hyperinflation but it will never repay the debt since all it does is to increase the amount of debt outstanding from trillions of dollars to quadrillions.
The US economy showed natural growth without deficit spending until 1960. At that point, heavier involvement by the US in the Vietnam war created the initial deficits. As Eisenhower handed over to Kennedy in 1961, US debt was only $286 billion. Then, 20 years later during the first year of Reagan’s presidency, US debt reached the staggering sum of $1 trillion.
SOURCE: http://kingworldnews.com/the-world-is-hanging-by-a-thread-on-a-frightening-road-to-perdition/
