New metals exchange to replace PAGE


Big Eyed Bug
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Hi everyone, long time no post. My rat race job has me working long hours, plus 7 days per week trying to get an instrument built and ready for an upcoming science mission. Not much time to do anything but scan a few headlines at the Bug.

Has any heard about the supposed new metals exchange to replace the hijacked PAGE, as Chapman describes below, or is this old news already?

Gold Responds To A World Of Financial Instability And Liquidity


The Pan Asia Gold Exchange (PAGE) – was to represent real price discovery and that is yet to happen. The first move to smother the exchange was by an increase of holdings in the endeavor. This move was to stop them from constructing their own platform rather than buying an existing platform.

Due to that move shareholders rose from 10% to 25%. That brought in additional directors whose job it obviously was to stop the fully allocated spot contract.

One of these directors was a US banker who has worked for the Federal Trade Commission, the Sloan Foundation at MIT and whose wife is a member of the CFR, the Council on Foreign Relations. Thus, nothing is going to happen to this venture until next year for a variety of reasons.

Fortunately a new exchange is on the way to replace PAGE, which we will fill you in on in a few months.

Once underway it will first trade silver. The Chinese regional exchange recently phased out of gold trading and is setting up to trade silver in the domestic currency – the RMB.

Accounting will take place monthly and will be held in private facilities, not with bullion banks. That way they cannot illegally hypothecate the silver. No 350 to 1 leverage. Only trading for cash delivery. In the final analysis this new vehicle will be out of the hands of the illuminists – it will function far better and draw major international players.

dali lambone

Predaceous Stink Bug
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Yeah, it sounds promising. A few British fellows have been in the process making it happen. Here is the link to the discussion we had about it not to long ago.

Since you are busy I can probably sum it all up in a few words. They believe they have a good shot at true silver price discovery if they can get the program into business.


Praying Mantis
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Waaay south
Any fully allocated open exchange for precious metals will be brought down by the TBTF's because they cannot afford to have a platform allowing for true price discovery. JPM has the biggest bazooka, so they would likely try to sneak in the back door and buy a large enough portion of teh exchange to render it powerless to do anything outside of their influence.

I'm just sayin'.


Yellow Jacket
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It took a while but here is news on the PAGE replacement

China Silver Exchange Update
Monday, March 11, 2013 at 12:23 pm

Last week, I reached out to our friend, Ned Naylor-Leyland for a progress report and status update on what we call The NASE (Ned & Andy's Silver Emporium).

First of all, we call it "Ned & Andy's" but that's only because they sometimes act as unpaid consultants on the project. Neither of them have direct involvement and, thus, full status updates can be challenging to acquire. However, last week Ned was able to track down some new information for us.

The gist of this is that the exchange is still being planned and constructed
. It has not been permanently shelved like the PAGE (Pan Asia Gold Exchange). The delays have been primarily bureaucratic and, with the Chinese Politburo elections now well behind us, things should begin to move forward again...though likely still not at the pace any of us would prefer.

Anyway, below is a C&P of the email I received from Ned. At this point, I'm just glad that this exchange is still being built and I hope that it becomes a reality sometime later this year.


Firstly I want to reiterate that although Andy (Maguire) and I were invited to
observe the opening ceremony for the Pan Asia Gold Exchange (with flags,
pomp, ceremony and Chinese Politburo members in attendance) neither of
us have any direct involvement day to day
- I wish I did, but we are
both dependent on what we are told and although we have input into the
western perspective on an eastern entity, that is about it. 'NASE' is
still due to happen (thankfully) and my Chinese contact was very
apologetic for the amount of time things have taken.
My feeling is that
the wealthy Chinese backers of the new exchange rather dropped the ball
last year, although as I pointed out before, the Politburo reshuffle of
last autumn had to pass before any more regional/state confirmation of
licenses could take place. Without being on the ground in China and
privy to the apparently very long legal and technical discussions there
is a limit to what I can sensibly add at the moment.

My contact told me that things are however progressing now, with
substantial domestic interest, especially from the Beijing Gold Exchange
who want to tie into the 'Silver Paper' - he says that the new exchange
is moving ahead with building a new vault in a special economic zone but
are flirting with custody elsewhere initially in order to get the
contract moving - I am against this and have told them so. Either way,
I have said to them that there will be rather limited international
interest if the aforementioned differences to what is already available
in the marketplace aren't clearly obvious, and I have reiterated again
the need for total transparency on the custody/bar numbers etc
. I know
the new exchange has a website ready to be filled with the requisite
, but the details of the contract need to be clearly defined
and posted in there with a timeline to launch laid out before I would be
happy to make any more 'noise' on their behalf. We all look forward to
a fully allocated spot silver exchange, and I hope that this Chinese
group can deliver on it - but like much of Turdville I am currently
forced to wait and see it delivered before getting too excited
. I hope
that the natives take this holding pattern update for what it is -
meanwhile I know there are other countries that have similar projects up
and running in the formative stages
(no, I now know better than to jump
the gun!) so either way I believe that the idea of full spot allocation
is closer than we may think.

Best as always,


Your Host
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Looks like Russia is working on a physical metal exchange too:
The stock exchange is going to start trading gold and silver by the end of this year, and platinum and palladium in 2014. Trading physical metals is expected to boost liquidity in the market and attract more participants.

Russia has so far only been trading futures on gold and silver, not dealing with real metals.
Spot metal trading will be based on the platform of the existing foreign exchange market. Credit institutions licensed to conduct operations with precious metals and non-banking professional brokers will be the main players on the market, Gazeta,ru quotes the presentation by the bourse.

The Moscow stock exchange plans to transport precious metals from production companies, keep them in its own stores and deliver to the buyer the next day.