China Silver Exchange Update

Mon, Mar 11, 2013 - 12:23pm

Last week, I reached out to our friend, Ned Naylor-Leyland for a progress report and status update on what we call The NASE (Ned & Andy's Silver Emporium).

First of all, we call it "Ned & Andy's" but that's only because they sometimes act as unpaid consultants on the project. Neither of them have direct involvement and, thus, full status updates can be challenging to acquire. However, last week Ned was able to track down some new information for us.

The gist of this is that the exchange is still being planned and constructed. It has not been permanently shelved like the PAGE (Pan Asia Gold Exchange). The delays have been primarily bureaucratic and, with the Chinese Politburo elections now well behind us, things should begin to move forward again...though likely still not at the pace any of us would prefer.

Anyway, below is a C&P of the email I received from Ned. At this point, I'm just glad that this exchange is still being built and I hope that it becomes a reality sometime later this year.


Firstly I want to reiterate that although Andy (Maguire) and I were invited to
observe the opening ceremony for the Pan Asia Gold Exchange (with flags,
pomp, ceremony and Chinese Politburo members in attendance) neither of
us have any direct involvement day to day - I wish I did, but we are
both dependent on what we are told and although we have input into the
western perspective on an eastern entity, that is about it. 'NASE' is
still due to happen (thankfully) and my Chinese contact was very
apologetic for the amount of time things have taken. My feeling is that
the wealthy Chinese backers of the new exchange rather dropped the ball
last year, although as I pointed out before, the Politburo reshuffle of
last autumn had to pass before any more regional/state confirmation of
licenses could take place. Without being on the ground in China and
privy to the apparently very long legal and technical discussions there
is a limit to what I can sensibly add at the moment.

My contact told me that things are however progressing now, with
substantial domestic interest, especially from the Beijing Gold Exchange
who want to tie into the 'Silver Paper' - he says that the new exchange
is moving ahead with building a new vault in a special economic zone but
are flirting with custody elsewhere initially in order to get the
contract moving - I am against this and have told them so. Either way,
I have said to them that there will be rather limited international
interest if the aforementioned differences to what is already available
in the marketplace aren't clearly obvious, and I have reiterated again
the need for total transparency on the custody/bar numbers etc. I know
the new exchange has a website ready to be filled with the requisite
information, but the details of the contract need to be clearly defined
and posted in there with a timeline to launch laid out before I would be
happy to make any more 'noise' on their behalf. We all look forward to
a fully allocated spot silver exchange, and I hope that this Chinese
group can deliver on it - but like much of Turdville I am currently
forced to wait and see it delivered before getting too excited. I hope
that the natives take this holding pattern update for what it is -
meanwhile I know there are other countries that have similar projects up
and running in the formative stages (no, I now know better than to jump
the gun!) so either way I believe that the idea of full spot allocation
is closer than we may think.

Best as always,

About the Author

turd [at] tfmetalsreport [dot] com ()


Mar 11, 2013 - 12:42pm

10th Amendment

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

Mar 11, 2013 - 12:57pm
Mar 11, 2013 - 12:59pm

Fiat tower of babble!

Keynesians now throwing everything possible at the tower of babble to keep it from collapsing. From the 1.2 trillion USDinker dollar swap to the EU in Jan to our 85 billion in known monthly QE by goon platooning dead head feds. The freak show can CONtinue to throw as much fiat at the imploding situation. Why? The vermin rat bastards know it's worthless paper money. Debt attached to it is worthless. There is no intrinsic value in fiat or debt based currency. The risk is all spread among the lambs. Time to silence the lambs! Last dow high in Oct 2007 ended one year later in disaster. This is not 2007. This will not last until 1st of June before the masters of fiat disaster slam the financial iron curtain down upon the sheeple. It's my premise the last fragments of any size of silver bullion have been already swept up in the echoing empty bullion vaults globally. Now in the strongest of hands! The ameriCON'd sheeple will not know until all the coinage dries up how acute the silver shortage is. END game on! A few last moves! Checkmate to the sheeple! Too bad! I'm so sad!

Bongo Jim
Mar 11, 2013 - 1:00pm


Just had a nice little shaker here in SoCal. Johnny tells what it was on the Richter scale. O.K. Bob, it was......

Mar 11, 2013 - 1:02pm

A day in the life of bucktooth

Ding dong

Coming ….

You have a package, please sign here. It’s heavy.

It is from a bearing company. Thank you.

Rip Rip Rip … oh boy, oh boy, oh boy

Texas Sandman
Mar 11, 2013 - 1:07pm

I feel your pleasure, bucktooth

Just paid for my latest RCM100 this morning. And I'm already in anticipation of receipt. Nice & shiny with year & serial number.

Real eye candy & worth every penny!

Mar 11, 2013 - 1:13pm

Adding to the acute silver shortages on tap ameriCON'd wise,

these very planned lows, before the neoCONzi blow, to assist all available insider skunk works factory wonks to gobble up the remaining coinage. It's all moving so very fast now, it's evident the coast to roast; fiat turning to toast event, rapidly masticating into ashes. Good luck and don't look back on your stacking conviction or be among the destitute paper fiat currency bag holders. Yours truly,


Mar 11, 2013 - 1:17pm

A snippet from Butler's article . . .

linked above . . .

"Attorney General Eric Holder said: “I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy.” A senator admitted to being stunned by the frankness of the response. While Mr. Holder’s no-nonsense answer got the widespread attention it deserved, it should have resonated most loudly with silver investors, or at least with readers of this service.

In a blinding moment of clarity, the answer to the whole “why isn’t the CFTC doing anything about the silver manipulation and JPMorgan’s stranglehold on the price” question flashed for all to see. Mr. Holder’s words couldn’t be any clearer and fit perfectly with the now-consensus view held by those who know that JPMorgan is manipulating the price of silver. The reason the CFTC is allowing JPMorgan to continue with their illegal behavior in silver is because the bank is too damn big and powerful to rein in for fear of the unintended consequences."

old tradesman
Mar 11, 2013 - 1:17pm

jim willie with greg hunter

Gold $8,000 in New Trade Finance System-Jim Willie
Bongo Jim
Mar 11, 2013 - 1:21pm

A number of shakers

Well Bob, it was a 5.2 followed about 50 seconds later by a 5.1 with several "after shocks." Thanks Johnny, and thank all you contestants for playing.

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