I got this from a paid subscriber service http://www.safemoneyreport.com/
China's four largest banks have applied to the Shanghai Gold Exchange for
permission to trade gold for their customers now that China has deregulated
(allowed private ownership of) gold.
These would be The Bank of China, th
http://www.reuters.com/news_article.jhtml?type=internetnews&StoryID=1557133
or
http://makeashorterlink.com/?T23321112
Even _I_ have trouble believing things are this dismal, but
the situation is clearly pretty bad even at a fraction of 80%.
JMR
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A while back was some rumors about the gold situation in China.
here is a link (registration required, but joecypher and a password of
cypherpunk, works ;)
http://biz.scmp.com/ZZZX15R7EOC.html
quick bit of interest"Just over a week ago, as part of its ongoing
deregulation drive, the government
The government of Red China has just made it legal for its citizens to own
gold, and is ENCOURAGING them. China is also encouraging smart cards.
Strangely, China has been so eager to bring in foreign investment that it
has not put into place the draconian money laundering laws common in the
West
>From IBD's Dec. 27 issue:
"China hopes to spur Internet use by slashing long-distance rates"
Plans to cut long-distance telephone rates more than 50%
would hurt revenue for China's dominant state-owned carrier.
But it should also spur new Internet and telecom industries,
state media said. The
>From the Sept.6, '00 issue of IBD:
"China Plans To Relax Controls On Currency Lending, Deposits"
"It would be a first step toward allowing
free trading in the Chinese yuan. A
directive issued Tuesday by the People's
Bank of China gives greater influence to
international market conditions in s
