About the Post

Author Information

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

CHINESE GOVERNMENT LEADS CRACKDOWN ON GOLD EXCHANGES

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/

Advertisements

Tags:

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: