Gold and Silver has been in a long bear market since the 2011 May 1st slam, and us stackers have had to watch gold drift lower and lower staring at our stack while watching stocks break new highs everyday.
But the con game can't go on forever, it's impossible to have 500 people claim the same bar of gold just the same as it's impossible for 500 people claiming ownership to your house.
That is where Hong Kong comes into play, the physical gold dragon will eat the paper pushers for lunch.
Hong Kong just announced days ago a new Physically delivered Gold contract:
HKEX Announces Plan for Physically Settled CNH and US$ Gold Futures
First of their kind gold futures contracts denominated in 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)
http://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 via arbitrage, 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, so default will be likely, naked shorting 20k contracts will just create a bigger gap and crash the COMEX 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.
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, 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.
Wow! Thank u contrarianinvest! very insightful & shocking article!!! Hope it´s true, because if it really is a fact then we will soon see the finale of COMEX & LBMA ¨fake¨ future markets. Keep posting related to this matter pls. =)
Following, upvoting, resteemed & retwitted!
Thanks,
nothing can be manipulated forever, free market forces will always correct things, but this fraud game is overdue and I think the Hong Kong launch might be the nail in the coffin!
many are hoping for that to occur, ASAP!
really hope so! this is overdue several years!! but thank the banksters cartel I have the opportunity to bought silver at 16-17 dolls./oz. =)
And now going forward to buy cryptos! Keep posting about it! THANKS!
Silver's the way to go, and yes, time is growing short. The endgame approaches.Make your final preparations now. Better a few months early than a day late.
Agree, don't worry about getting silver at 16 dollars or 18 dollars, because maybe suddenly physical metal will be unavailable while the real metal price rockets to 100, 200 and higher really fast
The metals will be no sale by mid june.
Sounds interesting, cant wait for the destruction of LBMA and COMEX.
stacked a 100 Maples today!
Comex will become irrelevant eventually, but not with HKEX. The opening of HKEX will provide another cut to the torso of the comex, unfortunately this will not blow up the fiat game any time soon. The Chinese have not completed purchasing the west
s gold, at todays knock down prices.Grab as much silver as you can while :)
SHHHHHHHH!!!
lol
it doesn't matter how many people you tell. they think everything is fine.
Thanks, very interesting article. Agree with celtic2008, buy silver...has more upside potential and less above ground supply currently
if gold and silver dont go up fast enough in the next few months ill end up in prison
sorry to hear that =( hope it works out for you
Why? Debt?
yes debt
this one time.. you may slide through
Well, only time will tell how this separate market influences the COMEX and ultimately for us paper bitchez, the paper price. Coz for now at least, the paper price is all that matters!
no, that is so so wrong. physical posession is the only thing that matters when the music stops, and the manipulation ends.
Well, sadly, only in an ideal world fundamentals will matter and physicals would work and it's price will finally stop being pegged by the COMEX price. For now, you would have to hope/pray/wish another 6 years possibly the manipulation ends.
Good article mate, im going to look at the link and try and find the start date so i can stack some more before it hits the fan ;)
This sounds yuge hahaha get your stack on while you still can!!!!!!! Sit back and watch comex burn baby burn
Ain't going to happen. I heard this same type of argument/scenario right before the Shanghai Gold Market opened. Nothing happened !!!!!!
you are wrong this time. this is unprecedented, the collapse will ensure it's success.
holy. shit.
Only time will tell.
Additional info. The LME (London Metals Exchange) is owned by HKEX and has plans for a gold contract in July.
Great article, hope it is true. It's about time this fraudulent COMEX gold pricing scheme gets ended!!!
I've read that the LME is as dirty as the Comex. Think this tidbit from the link from you article means anything?
"The London Metal Exchange, a wholly-owned subsidiary of HKEX, plans to introduce gold futures in London in July of this year as part of its LMEprecious initiative."
Everybody's dirty these days. Caution advised.
Stump
I've read that the LME is as dirty as the Comex. Think this tidbit from the link from your article means anything?
"The London Metal Exchange, a wholly-owned subsidiary of HKEX, plans to introduce gold futures in London in July of this year as part of its LMEprecious initiative."
Everybody's dirty these days. Caution advised.
Stump
This is just exactly what is needed. The sooner it is fully operational the better. We will reap the reward if we hang in there.
Thanks for letting us know , I'll be researching this. All the best! @arbutus
When Shanghai exchange opened last year, I thought it'll make a impact. Did not. This? I think not so much neither. Everyday person if they buy at all, still prefers paper gold rather than physical, big mistake and worst of all keeping this price fixing going. This paper game seem to me will go on forever, cannot beat these paper guys, they're much too powerful.