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Hong Kong Launches Gold System That Could REPRICE Gold
derryb
Posts: 38,568 ✭✭✭✭✭
built to break the paper monopoly New York and London have milked for years.
We can only hope they do the same with silver.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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Wasnt the China gold exchange supposed to reprice gold?
Knowledge is the enemy of fear
Gold has been in the process of repricing now for about 4 years. China is an integral component in the process of making gold part of a new trade settlement system that doesn't include purchase of Western debt.
The IMF made gold a Tier One asset several years ago, and the only other Tier One asset is the US 10-year Treasury which is being sold off, causing rates to rise and the deficits to become more and more problematic.
Until the West decides to change its spending priorities, the effects of constantly increasing an unpayable debt will come back to bite us in the ass in a big way.
I knew it would happen.
it did. were you asleep?
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
How?
Knowledge is the enemy of fear
it gets repriced every 60 seconds. their exchange is now part of the formula that determines the next tick up or down
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
The formula?
Knowledge is the enemy of fear