go to exchange and shanghai people are buying gold and they are taking delivery of gold and they're doing so in big numbers huge numbers and you know when it's compared to mine production or even the imports that we're saying going from hong kong to china it's overtaking or at least reaching those levels on a weekly basis is what we're saying say all that physical is being pumped out of the us is just making its way to china how much. is flowing it is a crime to say it's flowing from west to east gold market well i would certainly say you know if you're looking at the federal global production that it's nothing's meeting anywhere at any other demand anywhere else in the world so it's going to china but we've been saying they rise in imports a long time from hong kong to china say all of that gold is going into hong kong it's being shipped instantly china people are taking to delivery of it i think in the last quarter. imports from china from hong kong is up sixty eight percent you know and last time i was on the day after we chatted the gold price fell quite significantly and has fa

dollar and sixty cents an ounce a premium spot which is the cash market in london i'm not talking about shanghai i'm not talking about vietnam where you can get between six and one hundred dollars premiums announced i'm talking about london the global market the global marketplace for gold so it is a true benchmark i.e. the fix comes up this morning whatever the price is is what i can sell or buy my book in for now why as an arbitrage or why as i have a bank or a hedge fund or somebody in the profit business wouldn't i take and it's up been up to two dollars and fifteen cents a matter of days ago but an average of a dollar sixty why wouldn't i sell two million ounces today give you money give my bullion over take up to a two million dollar profit and not wait ninety days wait the contracts about to expire i could wait less than thirty days to get my bullion back well as you said why not. because there's no confidence that these markets like the comics and a lot of blame marx association are going to survive another thirty days intact as we know them you know and what i what i'd be worried about

i've been convinced of the asia pacific region as hong kong and shanghai. right now and the decision to reduce the corporate taxes in the forest to make this easier but again nobody is thinking seriously both to transfer and crush into the not sure sure sure country when it's an idea it's a work in progress or you guys actually were not all make a subtle and i'm sure place. we will try to. do this but we are not. we are not trying to perth various financial services in so wholly in our east to make society in to. give us the. places convenient for investments i wonder what japan will say about that i think then japan will start cooperating with us even. islands and. from pragmatic point of view not a political point of view. going cause of the crew islands means putting money in. and trying to take quite away from from russia well here's another graph let's take a look at that this crap actually shows that western european countries generate more offshore wealth than anyone else in the world pretty clear that you want so sure is down and out of existence ri