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Thread: No more paper trading in China!

  1. #1

    Default No more paper trading in China!

    “Deadline: August 15. Chinese commercial banks say bye-bye to paper PM trading. After the new account opening of paper PM banning, commercial banks will close the door of buying paper PM on August 15. China Merchants Bank asked customers to clear positions before October 17.”

    Paper price could drop and premiums rise while these contracts are closed out.

  2. #2

    Default

    Well, the only PM backed paper trading allowed will be the currency supported and enforced by the government. That seems like a really good way to have all gold migrate to government stockpiles as the movement of physical PM's willbe replace with the full trust and credit and backing of the approved government currency... and they will never violate the full faith and credit of their paper currency.

    Me thinks I have heard this song before....
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

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