More on PAGE

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Sat, Sep 10, 2011 - 11:50am

Market action this week only further demonstrated the need for a new, global pricing mechanism for physical gold and silver. As stated by Ned Naylor-Leyland, the current system allows the "futures tail to wag the spot dog". I believe this collusive, manipulative nonsense will soon come to an end with the introduction of the Pan Asia Gold Exchange later this year. If you haven't already, please go back and read this before you continue:

https://www.tfmetalsreport.com/blog/2256/page-turning

After writing the note above, I was placed in contact with a very important gentleman through the serendipitous intervention of an internationally-connected Turdite. He asked if I'd "like to speak with one of the guys responsible for setting up the PAGE". I, of course, said "YES!".

Graham Newall of Power Capital Global was recently appointed Senior Vice President of the PAGE. Below is the complete text of the questions I submitted to him last week. Graham's responses are printed in capital letters, directly below each question. I hope that all Turdites find this information helpful in developing an understanding and appreciation of the impact the PAGE will have on the global precious metals markets in the years to come.

Hello, Graham. I hope you've had a nice weekend. I am looking for some fireworks when trading resumes on the Globex this evening at 6:00 NY time. It certainly appears that this will be another interesting week.
Thanks again for allowing me the opportunity to visit with you. I am very much looking forward to seeing the impact the PAGE will have on the international spot metals markets. I firmly believe that the LBMA/Comex/BullionBank system is outdated and that the PAGE is going to usher in a new era of transparency in price discovery.
I have a short list of questions below. Would it be OK to present to my readers the list of my questions with your answers? My hope is to continue to draw international attention to the PAGE and present it as a viable alternative to the LBMA status quo.


1) Graham, can you please describe your role and the role of PCG in building and/or managing the PAGE?

I HAVE BEEN APPOINTED SENIOR VICE PRESIDENT OF THE PAN ASIA GOLD EXCHANGE RESPONSIBLE FOR STRATEGY AND REPRESENTING THE EXCHANGE INTERNATIONALLY . POWER CAPITAL WILL BE THE FIRST MARKET MAKER IN THIS CONTRACT



2) PAGE is already trading a 10-ounce gold contract. Are there plans to issue a silver contract, as well?

THE 10OZ DEFERRED SETTLEMENT WILL START TRADING SHORTLY OF THE MOON FESTIVAL THIS MONTH. THE SILVER CONTRACT IS PLANNED FOR LATE 4TH QUARTER 2011


3) I understand that Chinese citizens can buy the 10-ounce contract through the Agricultural Bank of China. Do global retail and/or institutional investors have the same access to this contract? If not, will this access be allowed in the future?

CHINESE CITIZENS ARE REQUIRED TO LODGE MARGIN IN AN ACCOUNT WITH AGRICULTURAL BANK OF CHINA AND TRADE DIRECTLY WITH THE MARKET MAKER ONLINE. GLOBAL RETAIL/INSTITUTIONAL INVESTORS MAY TRADE THROUGH THE MARKET MAKERS APPROVED BROKER IN HONG KONG DETAILS OF WHICH WILL BE RELEASED SHORTLY



4) Many are anxiously awaiting the PAGE to begin trading their 90-day, rolling spot gold contract. Several questions here:
a) What are the key differences between the 10-ounce contract and the spot contract?

THE 10OZ CONTRACT ROLLS EVERYDAY AND IS A MARGINED TRADE. THE 90 DAY CONTRACT IS A RECEIPT FOR A PHYSICAL BAR OF GOLD WHICH WILL BE FULLY FUNDED AND ON MATURITY CAN BE "ROLLED" AND ANOTHER RECEIPT ISSUED OR EXCHANGED FOR THE PHYSICAL GOLD.

b) What is your best estimate for the date trading will begin?

I BELIEVE THAT THE CONTRACT WILL BEGIN TRADING IN EARLY DECEMBER

c) What regulations are in place to ensure 1:1 allocation of the gold behind the contract? Is the Chinese government the supplier of the physical inventory behind the exchange?

THE GOLD WILL BE HELD IN TRUST BY AN EXTERNAL ADMINISTRATOR WITH A CHINESE BANK REGULATED BY THE PEOPLES BANK OF CHINA ACTING AS TRUSTEE ENSURING THAT THE REQUIRED 1:1 ALLOCATION IS MET AT ALL TIMES

d) I imagine that global, institutional investors will be allowed to buy the contract. Will global retail be available?

AS THE PRICE OF GOLD APPRECIATES THE CASH REQUIREMENT WILL PROVE PROHIBITIVE FOR MOST RETAIL INVESTORS MAKING A MICRO CONTRACT TRADING ALONG SIDE THE MAIN CONTRACT A PRACTICAL NECESSITY IN MUCH THE SAME WAY AS THE COMEX MICRO CONTRACT.

e) Can a global investor take physical delivery or must the gold be stored in China?

THE TRUST WILL HOLD GOLD STORED IN APPROVED VAULTS WORLDWIDE

f) Are there plans to issue a similar silver contract?

NOT AT THIS STAGE



5) This also seems to be a conduit through which the Chinese government is allowing the global distribution of renminbi. For example, if I buy gold in London for $ and sell it on PAGE, do I receive renminbi for my gold?

THE PROVINCE OF YUNNAN HAS BEEN DESIGNATED AS A FREE TRADE ZONE OF RMB. THE RECEIPT MATURES IN RMB.



Again, Graham, thanks in advance for any assistance you can provide. My readers and I greatly value your input. TF

I HOPE THIS IS USEFUL PLEASE EMAIL ME ANY TIME IF YOU HAVE FURTHER QUESTIONS - I WILL KEEP YOU INFORMED AS THE FINAL DETAILS ARE WORKED OUT.
Best regards
Graham


​Out of respect for Graham's time, I'd tried to keep the list of questions relatively short. However, as you can see, Graham has graciously offered to answer follow-up questions, as well. Again, I will not inundate him but, dear reader, if you have a burning question for Graham, please include it in the comments below and I will pass a few along to Graham early next week.

Thanks again to Graham and all Turdites everywhere for your contributions to TFMR!

TF

About the Author

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

  278 Comments

raulv
Sep 10, 2011 - 10:17pm

MY Stupid thoughts...

Why do we need PAGE, if we can still buy gold and silver for the cheap!

IF PAGE begins its trading day, maybe we'll see a price explosion in both G&S that'll just stop many of us entering the market.

atarangi
Sep 10, 2011 - 10:22pm

just keep stackin

When the collapse of funny money happens everything will go off the guages overnight. Even the most honest systems, entities, institutions etc. will seize up. Legislation,nationalisation, conflict,war and who knows what else will be the order of the day. The luxury of certainty will be off the table for some time. How to survive this mess with reasonable probability of victory ? ------------- no slackin --- just keep stackin.

Shill
Sep 10, 2011 - 10:28pm

Would you make love to your

Would you make love to your silver? Just asking...

I make love on it.

By the way Sweet AA. 100% home defense on steroids.

FogHorn LegHorn
Sep 10, 2011 - 10:29pm

PAGE is News

PAGE is news worthy and will effect The PM market by altering the price discovery status quo. It will allow 300 million Agricultural banking customers direct computer access to trade gold. It will allow large gold owners to trade outside the Anglo/American exchanges in RMB denominated contracts. It decreases the influence of the USD, and increases the influence of the RMB especially in Asia. It is another step in China's plan to grow its power in the region and on the World stage. The Chinese are positioning Themselves to have a leadership role, as is Russia and others, after the reset, in so much as They want Their currencies to be a big part of any "SDR", or what ever new reserve currency the World decides on. Should We welcome these developments? Not I, frankly it scares the shit out of Me. I am an investor trying to make decisions, I must consider any and all events that changes the investing landscape. Period. Less manipulation equals better TA, equals ok wit Me. I want the US of A to fix Itself, I want Good people to throw the Bums Out and turn this ship around, stop spending, stop wasting, out law earmarks and lobbyists.Stomp that can, don't kick it into Your Grandchildren's backyard!

corbin
Sep 10, 2011 - 10:33pm

FOFOA and Freegold

I followed FOFOA for months; here is how I summarize his view:

1) When fiat fails, gold is the logical reserve currency.

2) When the gold-price suppression scheme stops, fiat fails, and everyone runs to gold, gold will be re-valued in a 1-time correction. This is a social and financial phenomenon, not an industrial-demand phenomenon.

3) Silver used to play the role of soft-currency to gold's hard-currency, but we have paper and electrons to fill that role now. Plus silver is scarcer than gold. Hence silver makes a poor soft-currency and therefore loses its historical monetary role relative to gold.

I don't think FOFOA is saying silver won't go up in price. FOFOA is saying that the 1-time re-valuation at the end of fiat is primarily a gold phenomenon. Any fool can see silver will appreciate, but for different reasons. The 1-time re-evaluation may affect silver and platinum to a degree, but gold is the prime target.

Disclaimer: I own both, bought more silver today.

ps: if a major country makes a silver-backed currency... well, wouldn't that be interesting.

Shill
Sep 10, 2011 - 10:34pm

Obama's 'Stimulus' Package

Obama's 'Stimulus' Package Will Cost Over a Trillion

https://www.washingtonpost.com/blogs/post-partisan/post/is-the-cost-of-o...

The White House says President Obama’s new program of tax cuts and spending increases — a.k.a. stimulus — will cost $447 billion. Well, not exactly, says a leading economist. The actual cost would probably range between $1 trillion and $1.5 trillion over a decade. If he’s correct, the addition to the federal debt would be much higher than advertised.

Rui
Sep 10, 2011 - 11:03pm

@ R man

FOFOA blog has good articles on what happened during the 70's and 80's when Dollar was in trouble and how crude export nations and the West bandaided it. Those are good read and give you useful historical context about the gold market.

It's when he advocates the banker designed FIAT + gold model - FreeGold - that it quickly falls down into a set of laughable wishful thinking. He does not understand why FIAT and sound economy cannot co-exist and therefore why sound money has to be hard and FIAT is forever a fraud.

FOFOA once told me gold and silver ratio should be 1:20000. I busted it with a sledge hammer by just citing some fundamentals and a little price discovery mechanism. He then came back with FOA's 1:2000 ratio, and I busted it again with the same analysis. I can tell he does have a passion for whatever FOA was preaching, but he kinda goes overdrive and follows blindly even when quite of what FOA said was clearly wrong.

Timber Tim
Sep 10, 2011 - 11:03pm

@strongsidejedi about key statements

You hit the nail right on the head.

jlee2027 Economical Disaster
Sep 10, 2011 - 11:27pm

re: My brother's COIN dealer

What coin dealer was it? There is a dealer network and we know each other. If somebody goes "rogue" we like to know it.

Bay of Pigs
Sep 11, 2011 - 12:17am

Come on...

DaveyBoy questions the Chinese gov't who let their citizens (and encourage them) to go into their banks and freely buy bullion, yet pulls the "adversary of freedom" card out.

Get real. The USA is heading straight towards totalitarianism/fascism. You ought to look at the bigger picture when it comes to PM's.

TheGoodDoctor thecoloredsky
Sep 11, 2011 - 12:22am

@thecoloredsky The brilliance

@thecoloredsky

The brilliance of this is that China is controlling the destiny of its own currency. It only gives RMB for those selling gold to them. What does this do? It makes the RMB stronger because they are controlling the amount of RMB out in circulation (and that it is gold backed). Thus with a strengthening currency they hope to be able to buy gold on the cheap since their currency is appreciating. Bottom line, if their currency appreciates faster than the price of gold it is a winning proposition for the Chinese.

Nigel Black TheGoodDoctor
Sep 11, 2011 - 12:30am

@TheGoodDoctor

You nailed it, dude. IMHO, a brilliant move by the Chinese.

Hat tip to you, sir.

TheGoodDoctor daveyboy
Sep 11, 2011 - 12:30am

@daveyboy A country like

@daveyboy A country like China that is trying to earn political capital so that it will have a world reserve currency in the future is not out to screw anyone over. You know what it is called? Politics.

China is also starting to backstop some of the Euro countries that are in trouble. They don't want to fight a war. They want a world reserve currency. They aren't stupid and they know they have to play by the rules to dismantle the global fiat currency gold scheme. See Wikileaks cables.

China wants to be a world power. They will play the game. I don't know the future. I can just see what they are doing now. You can kind of see what direction they are going though. They are covering their ass with gold and commodities in case a world currency is backed by either.

Like I said previously, China is playing a chess game based on decades and centuries. Not quarterly earnings.

Bay of Pigs TheGoodDoctor
Sep 11, 2011 - 12:40am

Thanks Doc

Well put. That's all I was trying to say myself. I am embarrassed by what my gov't is doing to its own currency. It's a joke.

TheGoodDoctor
Sep 11, 2011 - 12:49am

Thanks Nigel Black and Bay of

Thanks Nigel Black and Bay of Pigs.

Since I wanted to edit a post but couldn't I wanted to add to the two posts above that while China is acquiring gold and appreciating their currency, they also are encouraging and enriching their gold/silver saving citizens and creating wealth for them. It really is brilliant.

It's like China has been watching the United States economy since WWII and calculating along the way. Now they have seen all the mistakes we have made in our economy and now know what "not" to do. With PAGE they have just declared "game on".

TheGoodDoctor
Sep 11, 2011 - 12:59am

Hey guys just wanted to let

Hey guys just wanted to let you know we are on the cusp of a full moon tomorrow night when Asian markets are supposed to open. (I know there is a holiday) This is for those that are into numerology, astronomy, astrology, or even the lycanthropy oriented!

I just find it adds more drama to the weekend!

dmunjal TheGoodDoctor
Sep 11, 2011 - 1:08am

Isn't China printing a bunch

Isn't China printing a bunch of RNB to keep to up with the dollar peg?

saulysw
Sep 11, 2011 - 2:08am

Questions, questions.

Well, this has been an interesting thread, with some good viewpoints and things to consider. For me, it comes down to this...

  1. Consider the USD, RNB, Gold as a relationship triangle. The USD/Gold function is the one we are used to, set by the Comex futures market. The USD/RNB currency is currently fixed by a peg, although there is pressure from the US to revalue the RNB upwards. The RNB/Gold price is currently somewhat unknown, but the PAGE will discover this. I wonder if this will put further pressure on the USD/RNB peg.
  2. If buyers flee the Comex in favor of the PAGE, will this not make the "price of gold" (as measured currently, from the Comex) fall?
  3. Perhaps the day has come that China is putting all of that Gold it has accumulated to good use. It seems to me that this is a way to introduce a gold backing to the RNB.
  4. Like the Oil market, there may be periods where the price is different (eg Brent and OPEX) between the exchanges. What would be the effect then, if anything? The big question is how big this difference will become - 2%, 5%, 50%?
  5. Overall this move by China seems like a logical way to round out the features of the RNB, so that it could remove the peg to the USD one day and perform the functions of a world reserve currency. This may even hasten the downfall of the USD - so will the US do something (legislation?) to diffuse the situation?
  6. Sadly, recent activity has made me distrust the US and China governments equally.
  7. The more people that have access to physical gold, the better. The market in China is HUGE, so this may be the black swan we have been waiting for....
exiledbear
Sep 11, 2011 - 2:41am

The fraud goes deeper than you realize

You think that just fiat money is the basis of the fraud? Nah, it's just a symptom.

As bullish as I am on gold, I'm not one of those old tyme religin gold standard hymn singers.

Cynically, I find the people advocating a gold standard, are mostly people who already own gold. Understandable, I suppose. Amusing, for sure. However, be careful what you wish for and think things through to their logical conclusions.

In any case, a gold standard is what we're going to get, because nobody else will have a better idea with what to settle trades with.

Nothing happened. Nothing happens. That is the secret.

Rear Flank Downdraft
Sep 11, 2011 - 3:22am

Just Some Thoughts When I Should Be Sleeping...

First of all, I shall say that this cyberspheric nook that is TFMetals, with Turdelicious posts such as these and the insights offered in commentary by all has to be unparalleled. While I may be sporting the sloped forehead and drag my knuckles still on the ground ‘cause I’m not yet walking erect—(compared to established Turdites and their knowledge and experience) – I am thankfully not where I once was , because of this place. The evolution of my awareness/knowledge of the importance of the PM sector is ongoing.

I lurked on the old blog and joined the day the new one arose in triumph and the chart on my learning curve has been hockey-stick-ish for sure. I have long been suspicious of the ulterior machinations of the Empire, developed an appreciation of revisionist historicism, and applied much of that through the sieve of a decidedly biblical worldview (because I cannot reasonably justify the depth of systemic evil). Just how it all meshed from an economic perspective was a missing cog. This place has attended to that quite well.

I can see China doing what’s best for China and positioning themselves against a crumbling Western establishment in typical copy-pasta fashion. What they lack in ingenuity they make up for in sheer numbers of course.

As I’ve mentioned elsewhere, I’m a relatively new stacker (but learned recently my father was stacking somewhat in the late 70’s, until his stash was stolen when someone broke into our home), it’s interesting to see the vacillation in this thread on whether or not holding physical silver is a good thing or not. I honestly have wondered if I am too late getting into the stacking mode. But a less-than-1%-money-market account isn’t hot stuff either, and the paper market is nuts, so I keep stacking.

Is it just our exasperation from watching the silver spot fluctuate in the short term? Maloney devotees point to his bullishness of silver even over gold. Turk argues for gold as a “sterile asset” and it “doesn’t generate a cash flow. ” I mean it does help that the value of the metals and our holdings are and will be appreciating, but are we not, at the end of the day, as physical stackers, attempting to wrest control of the preservation of our wealth?

Speculation abounds as to where silver is going (100? 500?). I’m less sure that we’ll see 500 (but it’s possible), but I’m of a certainty that our holdings will never be worthless.

This can be daunting to the intuitive neophyte stacker who senses something’s amiss with the system, but is looking to the PM’s as an alternative for this wealth preservation. Hopefully, as more noobs wander to this place, we don’t forget how counter-intuitive it was to start saving in PM’s and they need to be encouraged/educated properly……and that there can be much intellectual/emotional detoxification needed. Again, I know of no better place.

Anyway, so in a day and time when simple appreciation can be a godsend for one and all, I have seen fit to feed the Turd (even if it is but a thimble-full), so he can continue in his foraging for analysis and information beneficial to us all.

Rui
Sep 11, 2011 - 3:49am

FreeGold summarized in one picture

  1. I wanna shoot myself in the foot (use FIAT instead of hard commodity as money).
  2. I realize it's gonna hurt (bankers/politicians dilute the FIAT to rob me).
  3. I come up with a pair of bullet-proof shoes (let's save in gold as FreeGold).
  4. Now it's fine to shoot my own foot with the shoes on (transact in FIAT and save in gold).
  5. I declare myself a genius for getting away with shooting self in the foot (FreeGold is hyped as the sound monetary system for future).

Anyone not fooled by the farce can simply spot the issue: Why shoot your own foot in the first place (why use dilutable FIAT as money to begin with)?

Hammer
Sep 11, 2011 - 3:54am

USA 10 Ireland 22 result in

USA 10 Ireland 22

result in the World Cup Rugby tournament going on in New Zealand. Tenacious US team fought, tackled and showed enormous and valiant spirit against a superior Irish team to also score a converted try with the last play of the game. They are a credit to the US but no doubt will go unnoticed by everyone in the US today. They represented everything that can be good about US people........team spirit, honest hard work and respect for the opposition.

(I am not American but they did the US proud today)

Tabberto
Sep 11, 2011 - 3:56am

First of all, they WILL do

First of all, they WILL do Silver, just not yet. the initial contracts are Gold but the Silver ones are coming I assure you, eta middle of next year. Silver will have had its geometric move by then anyway for what its worth.

Ferd said:

If I understand it, the mechanism won’t be useful to most retail traders outside of China. That suggests any foreign involvement will be mostly larger commercials and institutions that might play in this space. And, having already seen comments to the effect that this doesn’t look that different from the current COMEX scenario, what would be the benefit of playing?

'IT WONT BE USEFUL TO MOST RETAIL TRADERS OUTSIDE OF CHINA'....NO, BUT THE SPOT MARKET RUN BY THE LBMA CLEARS OVER A TRILLION DOLLARS OF SPOT TRANSACTIONS A YEAR BASED ON A FALSE PRICE DISCOVERY MECHANISM AND THIS WILL BE GENUINE AND WELCOME COMPETITION. THE BIG BOYS WILL NOW HAVE THE OPTION OF USING A PROPER MARKET. BEST ANALOGY WOULD BE A 'CHEESE LOVER' WHO HAD ONLY EVER BEEN ALLOWED ACCESS TO ERSATZ PLASTIC CHEESE (LIKE THE STUFF ON A BURGER) SUDDENLY BEING OFFERED A DELICIOUS UNPASTEURISED CHEESEBOARD DELIVERED STRAIGHT FROM THE FARM. ANY CHEESELOVER AT THAT POINT IS UNLIKELY TO GO BACK TO THE PLASTIC CRAP. AS FOR THE 'IT DOESNT LOOK ANY DIFFERENT FROM THE CURRENT COMEX SCENARIO'.....PLEASE GO BACK TO THE START OF THIS STORY AND WATCH THE ORIGINAL VIDEOS. IT IS A SPOT MARKET NOT A FUTURES MARKET (DIFFERENCE ONE) - IS FULLY ALLOCATED (DIFFERENCE TWO) AND SETTLES IN RMB (DIFFERENCE THREE)

The really important question that needs clarifying with Graham, and am almost sure this isnt going to be a problem btw, is whether PAGE will be publishing a daily bar list. Assuming it is www-available (again, don't panic about this it will be done) and people test out the deliverability facility early doors then simply the fact that this exchange is SO MUCH better than the existing monopoly will set the price free. Agreed you and i probably wont be using PAGE but it will have a powerful effect on the value of your 'stack'...

goldVSfrnDOTcom
Sep 11, 2011 - 4:18am

Why was this not addressed???????

Where is the Q and A as to who ultimately owns and controlls the PAGE (Pan Asian Gold Exchange). If it is in any shade or shadow within the grasp of the rothchild groups..... it's just another income windfall for that snake family that is fully eligable for the gallows.

Michael222
Sep 11, 2011 - 4:24am

class action lawsuits of the silver price manipulation

Dear members,

Without going into detail about my private situation I wonder if are more people here like me who have joined the JP Morgan Futures case of firm Hagens Berman LLP and the Silver Futures Class Action lawsuit of firm Labaton Sucharow LLP (https://www.labaton.com/en/cases/Silver-Futures.cfm ) ?

The recent developments are already dated from February 11, 2011. Since then I have received no developments of both firms.

If anyone here has also joined these class action lawsuits of the silver price manipulation, or other lawsuits against the silver price manipulation, I would be glad to know this of course.

Tabberto
Sep 11, 2011 - 4:53am

re ownership rothschilds have

re ownership

rothschilds have NOTHING to do with PAGE....please stop this tiresome broken record. This is a Chinese State SPOT market, not an extension of the existing FUTURES market debacle (ie HKmex)

The exchange is owned 90% by Chinese SOEs (state owned enterprises) and 10% by Power Capital, the guys for whom Graham Newall works - their 10% stake is pseudo chinese too as the top man at PCapital is a chinese national based in Taiwan. These guys are responsible for internationalising the whole thing (with our help!)

¤
Sep 11, 2011 - 5:15am

Egypt Declares Emergency as Israeli Embassy Hit

Egypt Declares Emergency as Israeli Embassy Hit

Q By Mariam Fam and Nadeem Hamid - Sep 10, 2011 11:57 PM ETSun Sep 11 03:57:04 GMT 2011

Egypt’s ruling military council declared a state of emergency to restore order after protesters attacked the Israeli embassy in Cairo. Israel’s Prime MinisterBenjamin Netanyahu told his nation last night that the incident had damaged “the fabric of peace” between the two countries while declaring his commitment to the 32-year alliance.

Egyptian commandos rescued embassy security personnel and civil security forces dispersed protesters gathered outside the embassy for a second day. One person outside the embassy died of a heart attack and 448 people were injured in both incidents, Egypt’s state-run Nile News said. At least two people died in the embassy protests, the BBC reported, citing unidentified officials.

“The fact that the Egyptian authorities acted decisively to bring about the release of our people is commendable and deserves thanks,” Netanyahu said in a televised address from his office in Jerusalem. “At the same time, the Egyptians cannot ignore the heavy damage done to the fabric of peace with Israel and this extreme violation of international norms.”

U.S. President Barack Obama called on Egypt’s government“to honor its international obligations to safeguard the security of the Israeli embassy,” the White House said in a statement Sept. 9. Egypt’s state television reported that the Israeli ambassador went to Cairo airport to return to Israel.

Increasing Tensions

Since the February ouster of President Hosni Mubarak, an ally of the U.S. and Israel, there have been increasing calls by many Egyptians for ending the peace treaty between Egypt and Israel. Tensions between the countries escalated as violence on their border flared in August, when militants opened fire on cars and buses near the southern Israeli city of Eilat. At least three Egyptian police officers died in the ensuing Israeli military response....

https://www.bloomberg.com/news/2011-09-09/egypt-fires-gas-at-israel-emba...

Aram
Sep 11, 2011 - 5:46am
Boardwalk
Sep 11, 2011 - 7:02am

@Tabberto

I see you are a new member. Welcome to T-Town.

Your posts indicate that you have more than just a passing knowledge of this type of financial product and this particular financial entity. Can you provide us with some context of your background?

Also, can you speak to your motivation for joining this site at this time and posting so intensively on this topic? It seems as though you are going beyond analyzing and discussing the concept of PAGE. Is your motivation to promote the company/exchange?

daveyboy
Sep 11, 2011 - 7:11am

China and Silver

Exactly, the western elite are scum who have sold the west out to China. Now China is slowly but surely becoming the most powerful nation on earth. I am saying considering their disdain for human rights this leaves a very bad taste in the mouth. As for what I said about allocates accounts, I have some of my silver in a vault and Turd very clearly stated that physical posession was the only way to go. Therefore as this is also allocated in PAGE, whyis this being hailed as a game changer?

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