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China Metal Price Premia and Other Topics

Interview with Jay Taylor taped on July 28, 2014 and posted on July 29.

Topics include:

1. China metal price premia for physical metal vs. NY / London virtual metal pricing.

  • Silver : $0.98/ oz or 4.7% premium (Shanghai Gold Exchange)
  • Plat: $84/oz or 5.6% premium (Shanghai Metal Exchange)
  • Pall: $142/oz or 16.1% premium (Shanghai Metal Exchange)

Palladium trading for $1,020 /oz in Shanghai vs $878 /oz in London and NY as evidence of physical pricing departing from virtual pricing markets.

2. Silver manipulation lawsuit coverage by Bloomberg, Reuters etc on weekend

  • focus on patterns of trading
  • issue is not so much trading patterns as the exchanges themselves - products traded aren't gold, silver, plat etc. but digital / virtual products
  • virtual gold and silver trading guarantees manipulation because metal can be created without limit in NY & London
  • Goes back to central issue of suppressing gold & silver allowing interest rate suppression; Gibson's Paradox
  • Key to the bubble that was blown in the 1990s was loose central bank monetary policy obscured by rigging gold and distorting CPI measure of inflation
  • Metals intervention accelerated under Greenspan in 1991 when J.Aron (Goldman Sachs) secretly allowed by CFTC to speculate on commodities.

3. Argentina - approaching July 30 deadline - appears that default will occur; 2002 / 2003 Peso crisis coming back

  • abuse of money by central banks.

http://www.zerohedge.com/news/2014-07-28/argentina-bondscurrency-tumble-delegation-snubs-mediation

4. Swiss / China currency swap agreement between central banks

  • In addition to BRICS, Germany, England, Switzerland, etc. preparing for disruption of function of USD transaction mechanism

http://www.zerohedge.com/news/2014-07-25/de-dollarization-spreads-swiss-chinese-central-banks-enter-swap-agreement

5. US Embassy evacuated on weekend

  • Gadaffi killed, country destabilized by NATO;
  • pattern of systematic destabilization of Middle East and now Ukraine
  • chaos being spread as petrodollar is challenged.
Jay Taylor interview with David Jensen MP3

Length: 28 mins 16 seconds

 

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