EPIC MUST READ ARTICLE: SHANGHAI GOLD EXCHANGE CHAIRMAN said CHINA IMPORTED 2000 TONS : DOUBLE THE NUMBER BY World Gold Council

LBMA Forum Singapore: SGE Chairman Confirms Chinese Gold Demand In 2013 Hit 2000 MT

I just received a very interesting email from Torgny Persson, chief executive officer of BullionStar.com, who is attending the LBMA forum in Singapore today.

Dear Koos,

Following up on our brief discussion before, I’ve continued to follow your excellent blog and have some breaking news for you. I’m writing to you from the lunch break at the LBMA forum in Singapore today.

Among the speakers were Xu Luode, Chairman of the Shanghai Gold Exchange, and Zhou Ming, General Manager of the precious metals department for ICBC.

Mr. Xu started his speech by referring to the official figure of demand for the Chinese gold market 1189 tons, as published by WGC, but mentioned twice that the figure for consumption is likely higher. Later in the speech Mr. Xu mentioned and I quote the official translation in the headphones “..as the Chinese consumption demand of gold hit 2000 tons in 2013”. There you have it. The chairman himself said it out straight.

Other key takeaways from the Chairman’s speech:

- The government and the government agencies are strongly supporting the gold market development in China generally and the Shanghai free trade zone specifically.
- There’s a London fix for gold, there should also be a fix in China.
- The free trade zone will open up the Chinese gold market internationally. Settlement will be in RMB but with the possibility to freely exchange to other currencies.

The chairman focused especially on the strategic opening up of the Chinese market internationally and China influencing the international gold market.

Mr. Zhou’s speech was equally interesting.

According to Mr. Zhou, the commercial bank retail volume including sale and repurchasing in China was 500 tons in 2013, up 165 % compared to 2012. Of this ICBC stands for 200 tons. The four largest banks have 80% of the market.

Mr. Zhou also mentioned that the transaction increase for paper gold was up 27 % in 2013 i.e. much less than the physical demand. The volume of the OTC gold derivates market in China in 2013 was 550 tons according to Mr. Zhou and the market for interbank borrowing and leasing was 1300 tons in 2013 up 160% compared to 2012.

ICBC has over the last years restructured their precious metals department with a speciality branch in Shanghai. ICBC has more than 300 dedicated warehouses for gold in 36 provinces and more than 20 million gold clients!

The customers buy for ‘personal use’. It’s rare that anyone sells back.

Mr Zhou also interestingly mentioned that ICBC “can not meet the demand of the market” and that we will see “the price of derivatives delinking from the (physical) spot price”. He said that fluctuations will affect the pricing system in gold but that the market will retreat to the fundamental analysis of gold supply and demand to rebuild the current market structure (my comment: obviously hinting that the physical Chinese market will take over the current derivative markets flawed price setting mechanism). He was talking about the shift of trading distribution and price transmission mechanism in the light of this.

To summarize, I was stunned about the frank and straightforward remarks by both of the above gentlemen and just wanted to share with you as I know many in the industry including big media is reading your blog.

See attached pictures of Mr. Xu and Mr. Zhou from the LBMA forum one hour ago.

Kind Regards

Torgny

LBMA Singapore 2014 Xu Luode

LBMA Singapore 2014 Zhou Ming

In Gold We Trust

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Source:

http://www.ingoldwetrust.ch/lbma-forum-singapore-sge-chairman-confirms-chinese-gold-demand-in-2013-hit-2000-mt

Karen Hudes reply

She is avoiding the fact. Maybe she received false information.
Here it is her reply to the enquiry about fake photo.

She insists with "other document" to explain a fake photo ( GLD vault photo as "evidence" of Global Collateral Accounts).

She decided to "block" the question and escape. Oh well..
hope she is on the good side anyway.

ANONYMOUS GUY providing me "inside info" about KAREN HUDES and GLobal Collateral Accounts

An anonymous guy who claims to have direct contact with a Global Collateral Accounts insider has provided me with this info about the Karen Hudes drama. "David Crayford" , according to this anonymous source, is a high level insider in the "Global Collateral Accounts".

here it goes:

-------


Ok,,, David Crayford responded back to Karen Hudes statement to OP above of: I have posted a gazillion documents about the gold in the Global Debt Facility and none of those documents are fake, and you know it.




This is David's answer by Email to me and he knows of what he speaks. The document posted in OP's post above is apparently real, but she doesn't understand what it means or if it has any value. It is a Certificate of Entitlement, very old from September 1965 and likely invalid at this time, because of its age and subsequent international treaties. 

Mr. Struck is NOT the International Treasury Controller and has no binding legal influence over any of the Collateral Accounts. He is a fraud. These two people are likely engaged in something fraudulent and illegal… 
**********************

Dear Candace, Karen Hudes, by her own admission, admits to being in possession of, and publicly posting documents that are “Classified” and as such neither she or Wolfgang Struck have any legal right to possession or disclosure.

It should be remembered that Karen Hudes was sent documents from us which would have given her all the information possible to lead her towards the truth of all of this. We sent her an email to inform her that a package was on its way to her, of which some of the information contained therein was Classified “Top Secret” whereby in the interest of Truth we informed her that she would be held to the Security Level 3 - 5 classification as a recipient of same, and that this was undertaken in good faith on our part.

Karen Hudes responded by stating that she did not desire to be involved with “Top Secret” information of any description and that she would not open the package but return it to us unopened.
That is what she did. (Candace,,, I am well aware of this story above,, for I was notified about it at the time)

So Karen Hudes doesn’t wish to be involved in anything with a Classification of “Top Secret”, but here she is publicly revealing documents that hold a Classification of “Top Secret” whether marked as such or otherwise because anything associated, connected, related to the Collateral Accounts / ITC or OITC / assets of the Collateral Accounts is by its very nature automatically Classified from:- Secret, to Top Secret, to Cloaked in Secrecy, depending on the nature of the document, and restricted in circulation to a few that are involved. 

What Karen Hudes doesn’t know, and doesn’t want to know, otherwise she would have opened the package we sent her, is that based upon the 1976, 1980, and particularly the 1995 and 2012 International Treaty Agreements, all agreements entered into prior to those Treaty Agreements were superseded by said Treaty Agreements whereby it was the decision of the International Treasury Controller whether they were implemented by Legal Addendum to the Treaty Agreements, or whether new Agreements was implemented. With that factor disclosed any documents such as the "Certificate of Entitlement" would have been rescinded and subject only to the decision of the International Treasury Controller as to whether it was at any time resurrected under an Addendum or under a new Agreement.

Another issue that she doesn’t appear to understand is the fact that the document “Certificate of Entitlement” relates to Certificates, Bonds, Instruments that are sub-certificates or sub-sub-certificates, Bonds, Instruments of numerous Master Certificates that ultimately refer back to Gold Bullion, Silver Bullion, or Platinum Bullion and hold little value, and certainly no value at all in the commercial market place.

Yet here she is stating, quote “I have posted a gazillion documents about the gold in the Global Debt Facility and none of those documents are fake, and you know it”, probably believing that she has something of value, or something that she can show that gives her a degree of credibility with the general public.

Those documents she has possession of have been gained from, either:-

A). Her former position at the World Bank
B). From Wolfgang Struck who has spent many weeks over various times in the Philippines
C). From persons in the Philippines who have possession of same and don’t understand what they are holding, but looking for someone who can make use of such documents.

She has no idea as to how the system is structured or operated, and like many others in the past, she is taking a few specific instances or examples and purporting to know it all. 

As a Lawyer she is a pathetic example of her profession, and as I have stated in the past, I wouldn’t have employed her for more than 2 weeks let alone the 20 years she claims she has served at the World Bank. Even though she is actively involving herself with “Classified” information and documents, she, as a lawyer, can not even apply compliance to International Official Secrets Acts. 

Such a situation would scare the hell out of most Lawyers around the world because besides taking an oath of office when entering the BAR, they are duty bound to ensure the law is applied. If ever they are, or become involved with a case that involves Official Secrets, which some do, they would be required to execute a document of Compliance with, and to, such Official Secrets.

I don’t believe I need to say more on this subject.

Regards

David P. Crayford.


------

Hey, I justed wanted to know more about gold. Why it always end in conspiracy theories and high level intrigue?

Strongman out

KAREN HUDES REPLIED TODAY

This is her reply


I have posted a gazillion documents about the gold in the Global Debt Facility and none of those documents are fake, and you know it. If you are scared, then why aren't you siding with humanity and why are you defending the Banking Cartel? This document summarizes just a portion of the gold in the Global Debt Facility.

and this is the pdf attached

http://ul.to/7r14h4q7

still don´t know what to believe anymore.

WORLD BANK whistleblower SENT ME PHOTO EVIDENCES of GLOBAL collateral FUND ( 600.000 tons of gold). this is what happened...

She sent me a pdf file.

https://s3.amazonaws.com/khudes/GOLD2.pdf

with 2 photos.

I quickly spotted 1 photo. It is and old and famous photo of GLD gold fund. ( an ETF fund)

So these are the scenarios:

1)She was caught with disinfo
2) top world gld fund it is "somehow" part of the Global Collateral Fund
3) she is an active disinfo agent.


opinions?

related threads:

http://www.godlikeproductions.com/forum1/message2530767/pg1

http://www.godlikeproductions.com/forum1/message2554150/pg1


http://www.godlikeproductions.com/forum1/message2397858/pg1


photo of conversation here:

http://imgur.com/COSCD2X