The House of Pleasure Stock Board

[NYBob]

CALVF - China To Launch Interbank Gold Market -
By Leslie Hook in Beijing
July 19, 2012 12:31 pm

China is set to launch interbank gold trading at the end of next
month amid a broader set of banking reforms, in a move that has
the potential to boost demand for bullion in
the world’s largest consumer.

A spokesman for the Shanghai Gold Exchange confirmed that the
exchange “has this plan” to create an interbank gold market and
was working with other government agencies to do so, but
declined to disclose details of how the new market would
function.

Interbank gold trading would be an incremental step in
China’s broader banking liberalisation, which aims to modernise
the country’s banking sector and includes recent moves such as
giving banks more freedom to set deposit and lending rates.

“This will be a good thing . . . to add a new trading method and
make it easier for banks to trade gold between themselves,”
said Gu Wenshuo, spokesman for the Shanghai Gold Exchange.
The exchange will announce more details in August, he added.

China is the world’s largest bullion market, accounting for a
quarter of global demand in the first quarter of this year,
according to the World Gold Council, and strong consumer demand
for gold has been driven by the lack of other investment
options in the country’s closed capital market.

At present banks are not allowed to trade bullion, or any
precious metals, directly with each other and can only
buy gold domestically through the Shanghai Gold Exchange or
the Shanghai Futures Exchange.

However, about three weeks ago the exchange and other financial
institutions circulated a draft of new regulations for
interbank gold trading to solicit comments from commercial
banks, according to a metals trader at a large Chinese bank.

More…
Jim Sinclair’s Commentary

The more real competition in the gold market, the more difficult
for the good ole boys on the COMEX to manipulate the round
the clock market for gold.

What The Weekend May Hold
July 20, 2012, at 10:25 am
by Jim Sinclair in the category General Editorial |

Dear Extended Family,

When will QE become the public practice of all
Western world central banks?

It will more than likely come over a weekend just like this weekend.
Major sovereign bonds like the Spanish and Italian will be over
7% yield and rising.
The Euro will be under pressure.
Equity indices everywhere will be under pressure.
Recent economic statistics in the entire Western world
will be quite negative.
The impact of the drought will have driven food prices
through the roof.

This time all central banks of the Western world, not just the
Federal Reserve will announce emergency measures on Sunday evening.

It is coming a lot faster than the gold bears think.
It can be any weekend now. It could be this weekend.

The longer the central banks wait, the more nuclear and
longer the QE blast will have to be maintained.

The price of gold is going to $3500 and higher.

Respectfully,
Jim

Bill Murphy’s London Source: “Silver & Gold Will GO NUTS
in August!”
Posted by The Doc on July 19, 2012 11:21

http://www.silverdoctors.com/bill-murphys-london-source-big-big-gold-silver-moves-coming-in-august/

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77695627



in last 1930 depression DJIA dump did happen but
GOLD stock kept its demand UP -

history often repeat itself -



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High Risk Paying High REWARDS -
Iceland boasts a 4.5% growth rate -- the best in the Eurozone -
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God Bless