China's war against Babylonian Banks goes to the next level
Sep 06, 2011
"China declared war on the City of London and Wall Street when they opened the Pan Asian Metals Exchange and PAGE the Pan Asian Gold Exchange.
"Their opening salvo will be fired in October when the Pan Asian Metals Exchange allows international investors to buy into a 90 day rolling spot gold contract which is for allocated gold. They already have a ten ounce mini-gold contract and a similar silver contract. The investor will have the choice of either take delivery of their gold or be paid in Chinese Renminbi. Major European and North American brokerages will allow investors worldwide to invest in the Pan Asian Metals Exchange....."
China intends to correct the big problem found in the Western "paper gold" markets. This will be an HONEST system, and with the backing of China, it will compete directly with the traditional gold exchanges. They announced their intention some years ago, and now they are finally ready to implement it.
I recommend reading the entire article by going to the above link.