The PAGE Is Turning

332
223
Wed, Aug 31, 2011 - 7:16pm

Our Australian friend, "Turdle", recently brought all of this to my attention. What we are about to discuss will truly have significant and consequential effects on the global trading and pricing of gold and, by extension, silver. Pondering the potential impacts of the Pan Asia Gold Exchange will require some time and mental clarity. If you feel you currently have appropriate levels of both, then let's proceed with the discussion.

First, some background. The Turd has been of the opinion for years that the forward-thinking Chinese are not necessarily planning for tomorrow, they are planning for 20 years from tomorrow, 50 years from tomorrow and 100 years from tomorrow. For example, if you listened to the "Time Monk Radio" interview of Jim Rogers, you heard me ask Jim about the possible, future "gold-backing" of the renminbi by the Chinese. I believe that one of the reasons the Chinese central bank is buying gold is to accumulate gold reserves for this purpose. Of course there are other reasons, too, but at some point in the future, China will sponsor a new regional or global currency that will be at least partially backed by gold. As part of this plan, Beijing is currently developing alternative futures and physical metals markets. The Hong Kong Mercantile Exchange is part of this plan. The soon-to-be-opened Pan Asia Gold Exchange is another.

Update: Comex Alternative: Pan Asia Gold Exchange, Silver Contracts start 22-7-2011!

It is this Pan Asia Gold Exchange (PAGE) that is the short term game-changer. By providing the world with a physical settlement and pricing structure outside of the bounds of the current LBMA/Comex scheme, the PAGE may, once and for all, allow for true price discovery of physical metal. The PAGE will make the current pricing system obsolete as global investors seek true physical metal that is unencumbered by leasing, titling and derivatives. A good starting point for your understanding of this concept is this 15-minute video from James Turk's GoldMoney site. Watch it right now.

https://www.goldmoney.com/video/naylor-leyland-turk-interview.html

Turk went on to have a follow up conversation Richard Poulden. Mr. Poulden is the Director of Power Capital Financial Trading. PCFT is the only private company allowed as an investor in the exchange. It's safe to say that he knows a little bit about the exchange, its dynamics and its opening date.

https://www.goldmoney.com/video/poulden-turk-interview.html

Now, I need you to think about what this all means and what the ramifications will be for the price of precious metals in 2012. Many have wondered how gold could ever possibly trade to Santa's target of $12,000/ounce. Under the current price suppression scheme of fractional bullion banking, it would be a significant, if not insurmountable, challenge for it to get there. If the PAGE succeeds in becoming the preeminent pricing mechanism, $12,000/ounce may prove to be a conservative estimate. No, gold won't trade to $12,000 in 2012. It might make it there by 2020, however. In this context, consider, too, the news last week that Venezuela was repatriating their gold from London. Does El Commandante want to get his little fingers on his gold before the LBMA house of cards crashes to the ground? It's what the hell I'd be doing if I were him.

My questions for you are some of the same that Senor Chavez undoubtedly asked himself:

1) Do you own physical gold?

2) Where is it stored?

3) Is it in an "allocated" or "unallocated" account?

4) If it's allocated, have you ever actually seen it? Have you ever actually touched it? Have you ever tried to withdraw it?

5) Do you own shares of GLD and/or SLV? Are you confident that they "own and hold" all of the gold they claim?

6) Do you trade leveraged paper ETFs like AGQ or UGL? What is your plan should the Comex fail?

My answer to these questions is simple: Physical is physical and paper is paper. You don't own it unless you hold it. Those relying upon the permanence of the status quo are about to receive a very rude wake-up call. Those of us who own and stack physical metal are about to see the fiat-conversion value of our metals skyrocket. The time is now for you to prepare for this historically transformative event.

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  332 Comments

ScottJ
Aug 31, 2011 - 9:18pm

California Lawyer

Thank you for sharing your knowledge. For anyone who takes the time to read through your work, especially this piece, they are surely benefited with a wide scope of "what is really going on" and not just theory.

I share similar viewpoints about just being happy there is a place to rant, as I have been apart of many online communities in my own journey and this site has provided a wide scope of knowledge from a well diverse community. Always helps to have a good teacher.

A model for the new education system as somebody mentioned in a very worthwhile post. Open based forum with constructive feedback. Turd gives us our "daily lesson," and the pupils go to work.

Keep up the good work.

Timber Tim
Aug 31, 2011 - 9:18pm

Maybe it isn't Germany that

Maybe it isn't Germany that paints Justins charts after all

https://www.tfmetalsreport.com/comment/510514#comment-510514

¤
Aug 31, 2011 - 9:20pm

My mistake, it was the Flying Tigers. Check this out...

Flying Tigers come to the defense of China
ghost
Aug 31, 2011 - 9:24pm

If you take the time to watch

If you take the time to watch the videos, you will have your answer.

Vypuero¤
Aug 31, 2011 - 9:26pm

Flying Tigers

Claire Chennault. Then came Stillwell. He hated Chiang - in fact he said we should support Mao. Not really because he liked him but Chiang was corrupt and he felt Mao would have done more to fight the Japanese. Would have been hard to do though because we had no way to really get any supplies to them. It was damn near a Herculean feat to get things to the Nationalists as it was - Burma Road, then they started the airlift over the Himalayas (the Hump).

After the war, Chiang squandered his resources and let all the soldiers go because he didn't want to or couldn't pay them, and they joined Mao, who at least gave them a reason to fight, so he lost a huge advantage through overwhelming incompetence.

I see you posted - that is Stillwell in the video there "Vinegar Joe"

Eric Original
Aug 31, 2011 - 9:26pm

PAGE has a message for the LBMA/Comex

PAGE has a message for the LBMA/Comex

Video unavailable
11IMIXberkshire888
Aug 31, 2011 - 9:30pm

@berkshire

Please don't forget about physical SILVER !!

......and once you are all in with your paper dollars start playing the silver/gold ratio game. The metals seem to be rising and falling at different rates and time creating an opportunity to swap metal leaving you with more free physical when the music stops. Cheers !

surfeitndearthTurdle GG
Aug 31, 2011 - 9:32pm

@ Turdle - PAGE - potential impact

Brilliant! Thanks.

This is what we've been waiting for, isn't it?

Those that don't trust the Chinese need to seriously ask themselves, "Compared to what?" Rigged market capitalism? kleptocracy? oligarchy? rule-by-the-rich? suicidal terrorist banksters with a fucking problem?

How well's that been working out for ya lately? Eh?

Stack em high, buy silver, crash JPM! It's time.

Tyler
Aug 31, 2011 - 9:33pm

I 100% disagree

that it will take until 2020 to get to $12,000. I'm calling $8,000 2012.

redwood
Aug 31, 2011 - 9:34pm

PSLV PHYS and CEF

Re: their relative safety. After months of scanning info, the common theme is "hold it in your hand" as first line of defence. Jeff Neilsen of Bullionbulls Canada says to guard against seizure "by the click of a mouse" and he includes Canadian officials in that scenario. So, it's a tough call.

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