The Hong Kong Golden Dragon that kills COMEX

CampeadorCampeador Posts: 201 Bronze ✭✭✭
Is this true? Found this linked on JSMinset website by Jim Sinclair.


https://steemit.com/money/@contrarianinvest/4vvyfu-the-hong-kong-golden-dragon-that-kills-comex

money
The Hong Kong Golden Dragon that kills COMEX
5 days ago
contrarianinvest32 in money
U371P886T1D3091F12DT20111018135734.jpg
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.

Comments

Sign In or Register to comment.