and sixty cents announce a premium spot which is the cash market in london and 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 because 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 you know 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 contacts about to expire i could wait less than thirty days and get my bullion back well as you said why not. because there's no confidence that these markets like the comix eleven billion mark association are going to survive another thirty days intact as we know them you know and what i what i'd be worried about is

go to exchange the 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 what 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 into the crowd to say it's flowing from west to east gold market well i would say and you 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 just 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 an

you had your own experience with all that didn't you didn't you spend all your money in shanghai more or less. that's why i'm going to spend it now. i'm going to book the most expensive hotels. with the most expensive restaurants. terrible picture i just like a joke. i don't think so goes a great artist. but i don't think it's a con man award. if you don't like the painting given a thing it's up to the person. i asked him to buy tea for the painting he seemed to understand. but then he went away. well. it's a tough job you have to take a risk just to get some food it's not difficult it's just not the way usually do things so how do you do. it together. you have to plan it all in advance friend so you ask me. if you ask me to make a port that i made that i ask. for this where is my teeth. ok. i made it. it's for gifts not for free. sure you get used to people's attention very quickly the people around me usually help organize it all but nobody knows me so things are a bit different. i don't know what it means to escape from yourself quite the opposite i am trying to find myself and i a

just to get by while travelling in china i went to shanghai i felt i could live there it was the moment the project actually started a russian girl living on the floor below me was going to leave. the one day i came to see her i'm noticed an easel there i was looking for one of the time. so i asked her to sell it to me but she didn't want to do that but it was a friend's gift apparently. that is why i offered to swap for it instead i gave her a painting in exchange for the easel it was my first barter so good when i got the idea to organize it as an art project which is your job. i started to get letters from each. one of them was from a couple that was going to get married and want to back kind of portrayed as a wedding present for themselves. but i had already left odessa so they're asked if i could do it over skype you know yes yes they told me they could give me all i need for my travel in return. so i asked if they could pay for the tickets from adesa to stumble they agreed and as a result we had a skype portrait session now and waiting on the tickets. if i decided to take annie as

of our country if we didn't pass this bill we could find london or frankfurt or years down the road shanghai becoming the financial capital of the world. and the first guy we saw was mr dodd who put the dog in dodd frank he got that a little bit wrong then he got that wrong jack reed would say today that he he regrets those words and mr schumer unfortunately because of this they have made singapore and london the financial capital of the world because with investment banks no no national borders and we talk about competitiveness what is it competitive that goldman sachs for example with its thirty two thousand employees has five thousand in london they are not american foreign exchange students they are london citizens paying the london payroll taxes this competitiveness is a feel good word that actually means exporting american jobs but it could also mean regulatory arbitrage not only between different countries but even in the states that we have them yes regulatory arbitrage is the same thing as when a teenager wants the car keys and mom won't say yes so they go to dad so if you don't lik

of our country if we didn't pass this bill we could find london or frankfurt or years down the road shanghai becoming the financial capital of the world. now that the first guy we saw was mr dodd who put the dog in dodd frank he got that a little bit wrong he got that wrong jack reed would say today that he he regrets those words and mr schumer unfortunately because of this they have made singapore and london the financial capital of the world because with investment banks no no national borders and we talk about competitiveness what is it competitive that goldman sachs for example with its thirty two thousand employees has five thousand in london they are not american foreign exchange students they are london citizens paying the london payroll taxes this competitiveness is a feel good word that actually means exporting american jobs but it could also mean regulatory arbitrage not only between different countries but even in the states that we have them right yes regulatory arbitrage is the same thing as when a teenager wants the car keys and mom won't say yes so they go to dad so if you don

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

are being committed to in the asia pacific region as hong kong and shanghai. 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 country and it's an idea it's a work in progress or you guys actually were not all make a subtle and all sure place. to. do this but we're not. we're not trying to perth various financial services in so holy in. our wall used to make so holy in the. in the three more secret i would give us the. place is clean for investments i wonder what japan will say about that i think then japan will start computer eating. even. islands and. pretty much a point of view not a political point of view. going because of the crew arlen's mean money. and trying to take quite away from russian 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 right i mean i

i've been convinced of to in 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's thinking seriously both to transferring crusher into the not sure and i'm sure sure country when it's an idea it's a work in progress or you guys actually well know all make especially in an offshore place. people try to. do this but we are not. real not trying to birthdates financial services in so highly in our our wall used to make so highly in the. in the three more secret i would give us the. place is clean for investments i wonder what japan will say about that i think then japan will start computer eating. even. islands and. from pretty much a point of view not a political point of view. going because of the creole islands means putting money in. and trying to take what he waves from from russia well here's another graph let's take a look at that this clip actually shows that western european countries generate more offshore wealth than anyone else in the world pretty c