China Silver Demand — One Step Closer to the Edge

							China	
  Silver	
  Demand	
  —	
  One	
  Step	
  Closer	
  to	
  the	
  Edge	
  
	
  
The	
  Hong	
  Kong	
  based	
  Chinese	
  Gold	
  and	
  Silver	
  Exchange	
  Society	
  or	
  CGSE	
  announced	
  
recently	
  that	
  it	
  will	
  launch	
  Yuan-­‐based	
  silver	
  spot	
  trading	
  in	
  Hong	
  Kong	
  in	
  the	
  first	
  
part	
  of	
  next	
  year.	
  The	
  exchange	
  says	
  growing	
  demand	
  for	
  silver	
  has	
  prompted	
  the	
  
decision.	
  
	
  
This	
  move	
  shows	
  that	
  China	
  is	
  inching	
  closer	
  and	
  closer	
  to	
  the	
  silver	
  market	
  and	
  is	
  
quietly	
  nibbling	
  away	
  at	
  Western	
  demand	
  for	
  silver.	
  	
  
	
  
When	
  Will	
  This	
  Shift	
  Influence	
  Global	
  Silver	
  Prices?	
  
	
  
It's	
  already	
  well	
  known	
  that	
  Chinese	
  citizens	
  are	
  not	
  only	
  allowed,	
  but	
  encouraged	
  
to	
  own	
  precious	
  metals	
  like	
  silver	
  and	
  gold.	
  	
  
	
  
While	
  no	
  one	
  truly	
  understands	
  China,	
  it	
  has	
  become	
  increasingly	
  clear	
  that	
  demand	
  
for	
  precious	
  metals	
  and	
  the	
  monetary	
  safety	
  they	
  provide	
  has	
  remained	
  culturally	
  
and	
  socially	
  significant	
  for	
  much	
  of	
  the	
  country’s	
  huge	
  populace.	
  
	
  
The	
  significance	
  of	
  precious	
  metals	
  in	
  China	
  has	
  persisted	
  even	
  throughout	
  the	
  last	
  
100	
  years	
  while	
  wealth	
  in	
  Western	
  countries	
  has	
  been	
  gradually	
  eroded,	
  extracted	
  
and	
  now	
  effectively	
  transferred.	
  	
  
	
  
Much	
  of	
  this	
  has	
  been	
  a	
  direct	
  result	
  of	
  the	
  great	
  Western	
  fiat	
  currency	
  experience,	
  
which	
  is	
  rapidly	
  unraveling,	
  going	
  bad,	
  and	
  threatening	
  to	
  become	
  even	
  worse.	
  	
  
	
  
Read	
  the	
  rest	
  of	
  the	
  article.