donderdag 16 februari 2012

PAGE: Pan Asia Gold Exchange

I found an interesting article about PAGE: Pan Asia Gold Exchange.

What caught my eye is that PAGE could literally obliterate the market manipulation as the US won't be able to play with margin requirements. If the US were to increase margin requirements, the price of gold in the US would go down, while the price of gold in China would be higher. Chinese would then sell their gold and buy US gold which makes the price go to equilibrium again.

Anoter important fact is that PAGE is 100% backed by gold, while GLD, COMEX etc... don't really have the gold.

Finally, PAGE will be the prerequisite for China to introduce the yuan as reserve currency.

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