This one is interesting. 10oz minimum contract for gold on this new Exchange. I thought there was a strange dynamic between James and Richard in this interview, something I hadn't seen in other JT interviews. Maybe JT didn't believe what Richard was saying? Strange, watch for yourself and make your own mind up. ---- Richard Poulden, Director of Power Capital Financial Trading (PCFT), and James Turk, Director of the GoldMoney Foundation, talk about the new Pan Asia Gold Exchange (PAGE) and its potential to change the gold market with its allocated gold contracts. They talk about PAGE's plan to start trading in standardised 10 troy ounce gold bar contracts. Poulden expects local contracts to start trading in Q4 2011 and international contracts to follow in Q1 2012. He also talks about the other gold exchanges being set up across China, as part of the government's strategy to encourage gold ownership. [youtube]http://www.youtube.com/watch?v=N4-tTITBNbI[/youtube]
I think this is the video the guy referred to. It has been posted around the traps when it first came out. Turk might have been getting tired by this stage. He has done a lot of videos there. [youtube]http://www.youtube.com/watch?v=Kyh6QlElHuY[/youtube]
Good vid. I didn't see any strange dynamic there, I think Turk was just stuttering more than other interviews.
I reckon he is probably just a bit tired after doing so many interviews but really I didn't notice any strange dynamics. Maybe they had a drink before the interview! Interesting about China getting into gold exchanges and encouraging people to invest in gold.
Another video went up. This one is very informative and worth watching. http://www.goldmoney.com/video/naylor-leyland-turk-interview.html Should get interesting soon when the PAN Asia exchange starts international trading of 1:1 backed 10oz gold contracts in RMB. I feel this will be the natural price discovery mechanism, breaking the Crimex monopoly. Slam
That was a better interview Slam. I like his philosophy - the real game changers are things which slip in under the radar unnoticed, but have huge impacts which people are not expecting. It could be all in place by the end of this year and he says already people who understand what it is about are ready to get on board, he reckons interest will spiral because given the choice between unallocated , partially backed contracts as opposed to allocated fully backed contacts people will move across. Yes, I believe this is going to end the Crimex monopoly!
