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Jennifer is Co-host of The Story of Liberty Radio Broadcast, video editor and creator, blogger & Web designer for the Story of Liberty. TheStoryofLiberty.net


Governments hate competition; totalitarian governments even more so. Due to record-breaking gold prices this year, hundreds of  “unauthorized” gold exchanges occurred in China to capitalize on gold fever. However, China regulators are not happy about the competition.

“No local authority, institution or individual is allowed to set up gold exchanges,” the People’s Bank of China (PBOC), the Ministry of Public Security and other regulators recently announced in a joint statement.

In essence, gold exchanges in China, except for two in Shanghai are to be banned. The joint statement also explained that the Shanghai Gold Exchange and the Shanghai Futures Exchange are sufficient to meet domestic investor demand for spot gold and futures trading.


Read more: http://www.forbes.com/sites/kitconews/2011/12/28/comex-gold-dips-sharply-on-global-economic-news-strong-dollar/


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