Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-54757 Wed, 20 Aug 2014 15:03:28 GMT Grant Williams - Will Central Banks Buy More Gold? ("Thinker, Trader, Holder. Why?") iehi-feed-54755 Wed, 20 Aug 2014 14:32:56 GMT Is the [New, "fraud-free"] LBMA Silver Price more transparent than the Fix? Not yet! iehi-feed-54753 Wed, 20 Aug 2014 14:24:49 GMT India gold smuggling explodes YoY iehi-feed-54752 Wed, 20 Aug 2014 14:23:08 GMT China Grabbing Gold Trade: Allows 3 more banks to import gold; Exchanges Bloom, Renmimbi Gold Trading Looms A pair of articles came our way on this topic:

1. China allows 3 more banks including StanChart to import gold -sources. Note that grabbing pricing power and avoiding manipulation are now discussed in cleartext:

China has allowed three more banks, including a foreign lender, to import gold, sources with direct knowledge of the matter said, as the world's top gold buyer gears up for its strongest effort yet to gain pricing power of the metal.]


China and other Asian gold trading centres such as Singapore are calling for more localised pricing of the precious metal as they seek alternatives to the so-called London fix, the global benchmark for spot gold prices, which is being investigated by regulators on suspicion that it may have been manipulated.

2. Koos Jansen: East Asia Geared Up For RMB Gold Trading:

In comparison, on the COMEX the weekly volume was 2,092 tonnes and it's estimated that in the London Bullion Market 25,000 tonnes are being traded weekly. But will the western paper markets be able to stay in the driver's seat of the gold market? We know China is developing it's market infrastructure not only for physical gold trade, but also to expand paper trading to steal pricing power from the dominant forces in the West and to promote the internationalization of the renminbi.

Bloomberg recently reported the SGE will launch gold trading in the Shanghai Free Trade Zone (FTZ) on September 26. From what was disclosed previously by the SGE this will likely be a gold-backed spot contract traded through the SGE's subsidiary the Shanghai International Gold Trading Center. The next step would be the launch of gold derivatives. According to Bloomberg the FTZ hosts a vault capable of storing 1,500 tonnes of gold. If this vault is in addition to the 2,000 tonnes vault opened in the FTZ by precious metals transportation and storage company Malca-Amit I do not know. Approximately at the same time as the SGE's international board will go live, the kilobar gold contract will be launched in Singapore.

The SGE international board will allow investors worldwide to trade gold in renminbi, which undoubtedly will lead to higher trade volumes on the SGE. The gold industry is fully prepared in East Asia for what might be a pricing shift, following the great physical shift of recent years

iehi-feed-54748 Wed, 20 Aug 2014 14:07:18 GMT Average Price of Ground Beef Hits All-Time High iehi-feed-54737 Mon, 18 Aug 2014 23:40:25 GMT Bulgaria Halts South Stream Pipeline Again As NATO F-15s, Troops Arrive iehi-feed-54729 Sun, 17 Aug 2014 14:34:15 GMT "Anti-Putin" Alliance Fraying: Germany, Slovakia, Greece, Czech Republic Urge End To Russian Sanctions iehi-feed-54724 Sun, 17 Aug 2014 01:26:35 GMT Inflation bites into food retailers' results iehi-feed-54719 Sat, 16 Aug 2014 13:05:39 GMT Is Mr. Putin "Crying Wolf?" (Petro-dedollarization) iehi-feed-54716 Fri, 15 Aug 2014 16:09:23 GMT Fed's Kocherlakota Says Long Way from Inflation Target (2018 Expected), Boosting ZIRP iehi-feed-54715 Fri, 15 Aug 2014 13:21:13 GMT Russia may become World No. 2 gold miner this year (as US Declines) is in decline, down 9% year-over-year. Yet more leverage Russia has over the US.]]> iehi-feed-54714 Fri, 15 Aug 2014 13:18:01 GMT McEwen on CNBC: Gold going to $5,000 per ounce iehi-feed-54713 Fri, 15 Aug 2014 13:16:36 GMT China's fourth gold ETF launches iehi-feed-54712 Fri, 15 Aug 2014 13:15:21 GMT California Drought Launches New Gold Rush iehi-feed-54708 Thu, 14 Aug 2014 20:34:40 GMT Turkey to supply food to Crimea iehi-feed-54705 Thu, 14 Aug 2014 14:21:48 GMT Rickards: Fed Lent Out Germany's Gold; China Would "Crash The Dollar" If It Admitted How Much Gold It Has (Video) iehi-feed-54704 Thu, 14 Aug 2014 14:17:02 GMT Russia Sanctions Blowback: Finland's Largest Dairy Lays Off 800, Spain Seeks EU Aid, Poland Complains To WTO iehi-feed-54703 Thu, 14 Aug 2014 14:15:05 GMT Greek farmers hit hard by Russian sanctions against EU produce iehi-feed-54702 Thu, 14 Aug 2014 14:10:51 GMT London gold fix lawsuits to be consolidated in New York iehi-feed-54701 Thu, 14 Aug 2014 14:09:15 GMT Gold Manipulation Talk Hits CNBC Asia