01.01.70
Five year aim to catapult China to be the Global
Superpower in Economics, Politics and Military.
Currently Shanghai Gold Market and Shanghai Futures Exchange are the only avenues for an ordinary Chinese voter to buy gold. With the PAGE, now they will be able to buy gold through their computers online. Initially the scenario will be open to the 320 million customers of the Agriculture Bank of China.
Done foreigners will also be able to trade the International Spot Contracts on Era and hence this will help increase the liquidity of the market and certainly will have a big impact on both the LBMA and COMEX . With Messenger the purchaser will receive a 90 days International Spot Acquire with the actual title bearing the name of the purchaser. All transactions initiated either by a native or foreigner will be denominated in RMB. Investors are given a choice to take physical execution or get paid in RMB.
The setting up of PAGE is not a ‘spurred of the moment’ when it happened but a carefully crafted strategic development in the key areas of China’s planned pecuniary dominance in the next few decades.
Source: The Market Oracle