Sunday, May 19, 2013

Hong Kong Mercantile Exchange (Commodities: Gold Silver) is surrendering all metal trades and will settle in cash. Defaulted! No Gold or Silver to be given!



This is Super Huge news in my opinion!

The Hong Kong Mercantile Exchange, which is the gold and silver commodities trading house in Hong Kong is immediately stopping/discontinuing and will be settling all gold and silver trades in cash that are in house at this time.  Besides that, they will determine what amount/price they will settle the trades/contracts at.

This is the exchange that began trading gold and silver in 2011 for the Pacific areas.  This is the one we had all hoped would break the gold and silver manipulation.  It seems the manipulation and physical amounts, broke them and they are not able to provide the physical.


On May 18, 2011, HKMEx formally began trading with a US Dollar gold futures contract. [9]In an interview with Reuters, Helmig said it plans to launch gold and silver futures contracts denominated in renminbi. He also said HKMEx will follow precious metals products with contracts in base metals, and then energy and agriculture.[10] On July 22, 2011, the exchange launched a second product, a US Dollar silver futures contract.[11]As of 5pm on February 13, 2012 trading on HKMEx’s gold and silver futures reached 1,003,210 contracts, representing total turnover of over US$50 billion (around HK$390 billion).[12] Trading on the exchange's US-dollar gold futures for the first time surpassed the 10,000 contract mark on June 4, 2012.


You have to wonder if people in  Asia were demanding the physical metals, compared to the paper as the Comex people are happy with.   It seems to me they ran out of physical and can no longer operate with physical gold and silver as a commodity.

They are using the excuse of commodity trading not providing enough money for them.  But lets face it.  The fact that gold and silver have been hit super hard the last couple of months and the fact that the Asian's have been buying all the physical they can get their hands on..... doesn't leave much to the imagination of what the truth is.

It seems we now have an official Default of an exchange for gold and silver!   When will the Comex put something out like this?

It will reapply later to trade gold and silver again with the Renminbi, but is ceasing all trading immediately.

There is no physical metals to be had from the exchange for anyone who put trades on it.  

Media Release from Exchange:



HKMEx Voluntarily Surrenders Authorisation To Provide Automated Trading Services


HONG KONG, 18 May, 2013  – The Hong Kong Mercantile Exchange (HKMEx) announces today it has decided to voluntarily surrender the authorisation to provide automated trading services (“ATS”) granted by the Securities and Futures Commission (“the SFC”).
With immediate effect, no new orders may be placed and all open positions will be financially settled at the settlement price determined by HKMEx and its designated clearinghouse.
The voluntary surrender decision was made to enable the Exchange to re-align its strategy with the new industry environment since its trading revenues have not been sufficient to support operating expenses and, as a result, its inability to meet the required regulatory financial conditions.
While trading on the Exchange will discontinue, HKMEx as an organisation will continue to operate with its existing staff, and will focus on developing new products including renminbi-denominated precious and base metals contracts that will better meet customer needs. It also intends to re-apply at an appropriate time for an ATS authorization to launch these products with stronger and more effective market maker programs.
“The favourable conditions under which HKMEx was founded have not changed. Global commodity demand continues to shift towards Asia as the region undergoes sustained growth, presenting great opportunities that we will continue to exploit,” said Barry Cheung, Chairman of HKMEx. “Our priorities now are to protect members’ interests by ensuring effective closing of open positions while strengthening our shareholding base and developing new products that play to our distinctive strengths.”
In closing out the open positions, the Exchange has developed a plan in consultation with the SFC to ensure the process is orderly and that investors are well informed of the matter. The Exchange will disseminate settlement prices to its members the morning of next Monday, 20 May 2013. Investors may contact the Exchange’s hotline at +852 3900 9898 for any assistance or enquiry.




Monday, May 6, 2013

Why I haven't been posting anything



I wanted to let everyone know, why I have not been posting anything.

I have been working on my house and renovating my master bathroom to be able to sell my home.

I have lived in this house for 12 years and now feel the need to free myself of it and everything I own.

Since the first home I ever purchased in 1990, I have accumulated a lot of "stuff".  I have come to the full realization, the "stuff" does not make me happy and only weighs me down. I do want to say,  I am grateful for being able to have beautiful items in my life and having a beautiful home but I am ready to change my life and way of living.

I made the decision last month to sell everything I own including my home.  I plan on getting rid of everything, including all my collector items/art work and very nice furniture.

I have been working on clearing out the junk and have gone to the dump many times with things and have now been trying to separate the "garage sale" items from the "collector items".  


I do have a beautiful home that I so thankful for in being able to live here and it does have the most amazing natural view of hillsides and the Smoky Mountains and yet I am right in the center of everything in Knoxville.  It is serene and homey and I have put my heart and soul into this home and it will be hard to leave, but it is time.

It is a very hard process and I am having to try and get it done by myself, which is makes it doubly hard.

I am still at the beginning stages of it all and am still trying to go through everything and trying to figure out how to sell the nicer items.

What do I want to do, once I sell my home?

I would like a motor yacht instead of a houseboat (what I first thought of and researched) due to being able to go out on the ocean with and go other places/countries if I want to.

I have been researching motor yachts for weeks now.  I can't buy an expensive one but I have found some older ones that are in my budget.  I have a budget (once my house sells) of $135,000 and would like a 60+ foot diesel engine motor yacht.   There are many from the 1970's that are in that price range.   I plan on taking a course of marine diesel mechanics, so I can work on the engine/engines myself when need be.

I lived on a sailboat in my teenage years down in the Caribbean and spent 2 years writing a book about the experience (not published).  At that time we had never stepped foot on a sailboat, but my parents sold everything we owned to move on one, yet our father abandoned us two weeks after the move.   It was the hardest experience in many ways of my life, yet it helped shape me to who I am today.  My mother and sisters and I found the strength and determination to learn, survive and eventually conquer our situation.  I hope one day to publish my book about that experience and maybe if I get the freedom from all my "stuff" and home, I will be able to re-edit it for the 100th time.

I strongly feel the need for Freedom. In fact, last year I posted about Feeling the Need for Freedom on the blog.  Now I am taking the steps to be Free of the stuff.

One thing I had to do was throw out all my "fear" items.  What do I mean by that?  I used to follow (years ago) a certain person that instills fear all the time with his supposed web language searching technology.   I had believed in it years ago, so I followed the "advice" and acquired a huge amount of food "stuff".  I had that stuff in a storage room, well I took about 4 loads to the dump of all the "fear" stuff.  I have found a wonderful release by doing that.  I released fear and I released a weight of stuff that kept me bound from Freedom.

So, all the above is taking up my time and will continue to do so, until I can clear my way through all the stuff and get things in order.


I am ready for Freedom!  I am ready for a change of lifestyle.  I am ready to release the things that bound me and keep me anchored down!

LET FREEDOM RING!