[dennisw]

http://thefundamentalview.blogspot.com/2009/09/hong-kong-pulls-all-its-gold-out-of.html

This story may have huge implications.
Hong Kong has demanded all its gold reserves back from London for storage locally in their new state of the art vault.

The Hong Kong Monetary Authority has also stated that it will transfer its gold reserves stored in other vaults around the world to the depository later this year.
Reports indicate that finance director with the Hong Kong Airport Authority has said that marketing efforts are going to be launched to convince Asian central banks to transfer their gold reserves to the new Hong Kong Facility.
When the tide goes out we will see who was swimming naked.
This has massive implications if Asian banks start demanding their physical gold. The “paper” game may soon be up.

[ccmay]

Traders said the new depository facility could also foster new financial products, such as exchange-traded funds based on precious metals.

I can't think of a single better investment for the five to twenty year time frame than a precious-metals ETF denominated in yuan.

I wouldn't put my IRA investments in the hands of the Chinese government, but I think putting a quarter of my mad money in this would be a phenomenal hedge, and might even make me rich.

[SuperLuminal]

I like it!

[Walkingfeather]

call 007 sounds like scaramanga may go after the transports
; )

[reed13]

bump for later