hello pezz, today's report:
(i) visiting beijing based on e-mail received @ 6:30am and had to change schedule all around and contort tasks every which way, as well as surprise family by cellular sms
(ii) heading back to hk first light tomorrow
(iii) walked about hotel on financial street - never even know this whole city w/i a city was even in existence, and whoa, big, shiny, new, and pretty and also pretty quiet
(iv) while walking, noticed a shop with the word 'gold' as a part of its name, "Hengtai Datong Gold" , and could not help but vortex-ed in. it turned out to be a first of its kind, jus opened in april, monetary gold shop that sells and buys only gold wafers of own manufacture and brand and certification under regulation of the officialdom
couldn't help but rushed back to hotel and exchanged euro cash for rmb cash, so as to swap for gold money (usd 920.xx/oz). cute little bricks, 9999 fine,1 oz each, at spot plus rmb 10 (usd 1.5+/-), and each wafer with serial number stamped, accompanied with certificate of mintage as well as certificate of redemption (sell back at spot minus rmb 10).
the company uses the fancy shop as advertisement for its on/off-line paper gold trading biz htdtgold.com (the tabulation on the middle of the page is the ytd running tally of a simulated trading competition - there is some talent in evidence, top earner did 408% ytd. interesting way to allow the company to recruit talent)
they served tea to me, and i gave them a briefing on the state of is.
the rebellion is making progress, as china population is emptied of usd paper money due to officialdom concern for social stability and harmony and traditional values.
is there such concern by the powers that rule in your country ? or do they say it costs nothing to print money ? and deficits do not matter ?
chugs, tj
p.s. interest thing about the little wafers - the more one has the more one wants - you can sense how that math could work out as the rebellion gains strength. the company s far does 1:1 paper:physical - lovely. |
