This is news. Hong Kong exch to trade both CHN & USDgold, together on the same exchange. And one will have to deliver
gold to sell it. No paper trades only.!
Whose exchange will the world want to use. Real or paper ones?
The Shanghai gold exch opened last year didn't do that or trade to
outsiders outside china. The hong kong exchange does and is
opened for trading .
The COMEX and LBMA's paper gold/silver exchanges, days, are
numbered.
From
'The Hong Kong Golden Dragon that kills COMEX
5 days ago'
by contrarianinvest
https://steemit.com/money/@contrarianinvest/4vvyfu-the-hong-kong-golden-dragon-that-kills-comex "
Hong Kong just announced days ago a new Physically delivered Gold
contract:(me-
by that I believe it is up and running or will be imminently)
HKEX Announces Plan for Physically Settled CNH and US$ Gold Futures
First of their kind gold futures contracts (me- in the world) denominated
in (both) CNH and US$ and
traded on the same platform Physical kilobar (1 kilogram) contract ideal for Asia After-hours as well
as day trading nearly
16 hours of trading per trading day (me-
or 23 hours according to the below to match the COMEX and london's LBMA busy body,
interferring with real gold/silver prices, in paper only)"
https://www.hkex.com.hk/eng/newsconsul/hkexnews/2017/1705052news.htm "
This is big, the contracts will be fully physically delivered so no bullshit
paper games, just like the Shanghai contract,
in order to sell, you MUST
DEPOSIT PHYSICAL GOLD.
The Shanghai contract has been launched for a year, but it is a closed
system restricted to inside China only.
Hong Kong's will be different, a fully open system and it will crash the
COMEX (and london's LBMA)
via arbitrage, (since)
Shanghai's gold price
in RMB per kg converted is always higher than COMEX, when Hong Kong
launches, it will trigger the gap in prices and cause buying in COMEX and
selling in Hong Kong for profit.
But there is no gold available for delivery in COMEX (and LBMA), so default
will be likely.
Naked shorting 20k contracts (for example) will just create a
bigger gap and crash the COMEX (and LBMA) even faster.
Take notice how the Hong Kong contract is made
for BOTH USD per kg
and RMB per kg,
this is done purposely to unfold the West's paper game.
The trading hours are also extended to 1am Hong Kong time to make
sure it
overlaps with New York and the gold fix.
Regular futures trading hours aren't as long unlike
US futures that run
23 hours where powers can manipulate them during thin trading hours.
China and Hong Kong is tired of the West and thinks it's times up for all
the paper games.
Now may be the last chance to get Gold and Silver at these PHONY
COMEX prices before Hong Kong launches and brings in the REAL
price for metal (me- I think it did 5 days ago or will be shortly).
There may not be further chances to buy real tangible metal for fake
digital prices.
I believe everyone should have at least a portion of their savings or
investments in gold and silver,
silver is even better,
even if you have
crypto's (Blockchain, locked out from getting inflated), bitcoin, mining
stocks, real estate, or regular stocks.
Remember, if you don't hold it, you don't own it.
Time is running short folks.