IMF - Chinese RMB (Yuan) in SDR from 1st Oct 2016

Christine Lagarde on the significance of the Yuan's inclusion to the SDR


IMF Christine Lagarde Announces Activation Chinese RMB (Yuan) into SDR

Shanghai Gold Exchange : Notice of Launching Shanghai Gold Benchmark Price Trading

Shanghai Gold Exchange (the “Exchange”) will launch Shanghai Gold Benchmark Price Trading on April 19, 2016. The term “Shanghai Gold Benchmark Price Trading” is a centralized pricing process that involves the issuance of various prices as per the corresponding buy and sell orders so that, by the end of multiple rounds of the trading process, the total buying volume and selling volume reach a relative balance and the orders are then matched and executed at the price, the Shanghai Gold Benchmark Price. Detailed specifications of Shanghai Gold Benchmark Price Trading are hereby given as below:

1. The trading code of Shanghai Gold Benchmark Price Trading is SHAU. The quotation unit is in RMB/gram. The minimum price fluctuation is RMB 0.01/g. Trades shall be in multiple of lots, with each lot corresponding to 1 kg. The minimum quotation size is 1 lot, the maximum quotation size is 30,000 lots. T+2 delivery.Relevant product specifications are detailed with Product Specifications for Shanghai Gold Benchmark Price Trading (attached hereto as Annex 1).

2. The auction runs twice daily with the AM session begins at 10:15an and PM session at 2:15pm. There are five minutes for the issuance of reference prices and one minute for the display of Initial Price.

3. The Exchange will announce the Previous Benchmark Price on April 18 as the reference for price limit calculation of the first Shanghai Gold Benchmark Price Trading on April 19.

4. The transaction fee of Shanghai Gold Benchmark Price Trading will be exempted from April 19, 2016 to June 30, 2016.

5. Member shall file with the Exchange Application Form for Shanghai Gold Benchmark Price Trading (attached hereto as Annex 2). Currently the trading access is not open to individual customers.

6. Executed orders of Shanghai Gold Benchmark Price Trading will be cleared along with other SGE products under the same account. During the end-of-day clearing, the Exchange will clear positions in the sequence of price matching trades, Shanghai Gold Benchmark Price trades, and inquiry trades. Clearing orders and default determinations are detailed with Explanation of Default Determination Process of Margin Trading Products in Clearing System as per attached.

7. Traders with trading access to price matching system could use the same username, password, electronic certificate and certificate code to log in Shanghai Gold Benchmark Price Trading system. Members that connects to the Exchange through leased line shall provide their IP address to Technology Operation and Maintenance Department of the Exchange and grant access to firewall. International members could use SGEI Trading System directly. From April 7 to April 12, members could verify the connectivity to the production environment of Shanghai Gold Benchmark Price Trading system.

8. The terminal deployed in production environment is available on Shanghai Gold Benchmark Price Trading System Terminal Download page from the sector of Member Center – The Exchange’s Notice after login into the Membership sector on SGE’s website. International member do not need to download or install the software. As the stimulation environment of Shanghai Gold Benchmark Price Trading is still available after April 7, members shall distinguish production environment from stimulation environment when installing the terminal and use different terminals in case of misoperation.

Please use IE 10.0 or above version or Google Chrome to log in member management system. Windows 7 or above version is suggested when running Shanghai Gold Benchmark Price Trading terminal.

Shanghai Gold Exchange

April 12th, 2016

from here >>

Why China launched a CNY-denominated gold benchmark

Monday, 18 Apr 2016 | 10:19 PM ET China's new CNY-denominated gold benchmark aims to attract foreign participation, says Marwan Shakarchi, MKS Switzerland's chairman.

Arizona pushes to have gold as legal tender.

Can the paper dollar be any more worthless? Some lawmakers in Arizona think so, and are hoping that gold and silver will soon be counted as legal tender.

As evident by last week’s dismal jobs report, the effects of the recession are still apparent across the United States: the labor force participation rate in the US has hit a three-decade low, and unemployment remains stagnant at close to the 8 percent mark. Fearing the dollars’ decline amid these economic woes, Arizona might become the latest state to recognize bullion — gold or silver bars — as legal tender.

Amanda J. Crawford of Bloomberg News writes this week that Arizona might follow in the footsteps of Utah in becoming the latest state to approve bullion as currency — they made that decision back in 2011. More than a dozen other states are now looking at signing a law that would do the same, and a continuously weak economy could prompt even more to express interest.

read more >>

Gold is Money: EU Sanctions on Iran include gold and silver purchases.

Written By Kenneth Schortgen Jr on Monday, January 23, 2012 | 9:02 AM

Think gold is not money to central banks and governments?  Just look at one of the prohibitions the EU imposed on Iran recently in their economic sanctions.


Reuters report that the EU has agreed to freeze the assets of the Iranian central bank and ban all trade in gold and other precious metals with the Iranian Central Bank and other public bodies in Iran.


According to IMF data, at the last official count (in 1996), Iran had reserves of just over 168 tonnes of gold. The FT reported in March 2011 that Iran has bought large amounts of bullion on the international market to diversify away from the dollar, citing a senior Bank of England official.


Currency wars continue and are deepening. - Zerohedge




You would think that the EU would LOVE to get rid of their 'relic' metals in exchange for oil.  That is, unless you realize the propaganda that gold and silver are not money is a bold faced lie.

the daily economist

Germany 4.0 Making its Mark.

Uploaded by RussiaToday on 3 Oct 2011 - the return of the deutschemark is imminent.

'Greek default hype part of Euro vs Dollar global currency war'.

RussiaToday on Jul 22, 2011 - A major U.S. credit agency says it will downgrade the Greek debt to 'default status' as a result of the second bailout for the country. The plan agreed by EU leaders, includes both government and private loans totaling around 150 billion euros. For a broader discussion on the state of the European economy we're joined live from Germany by William Engdahl, author of 'Gods of Money'.