This is a huge step in removing ETF'S OUT OF THE MARKETS AND BY APPOINTING SOMEONE WHO IS A FIRM BELIEVER IN THE END OF MANIPULATED MARKETS. THIS WILL BE TURNNING HEADS IN THE VERY NEAR FUTURE.
Heads will not roll the will simply be removed out of office and ignored as people will choose to listen to those that speak the hard truth and solve the problem and issue at hand.
Creating a physical Gold and Silver trading platform with very knowledgeable Men and Women is an extremely smart move and one that speaks highly of character and genuine personality within the Exchange. (it is built and very soon they will come in droves)
GnS+Research
Jim Sinclair Named Executive Chairman of Singapore Precious Metals Exchange (SGPMX)
Independent Advisory Board established to ensure long term growth strategy, protect interests of customers
November 22, 2013
SINGAPORE - Singapore Precious Metals Exchange (SGPMX), the world's first physical precious metals exchange with peer-to-peer bullion trading capabilities, today announced the appointment of precious metals specialist, Jim Sinclair, as Executive Chairman of SGPMX. It also announced the establishment of an Independent Advisory Board chaired by Jim Sinclair to oversee the transparency and management of the Exchange, as well as to develop education and advocacy programmes around physical bullion and wealth storage.
Independent Advisory Board members of Singapore Precious Metals Exchange's Independent Advisory Board include former CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad), Dato Yusli Yusoff, President of McMillan Woods Global, Dato Raymond Liew, prominent lawyer Ranjit Singh, and experienced commodities trader, Peter Mickelberg.
Jim Sinclair said, "I believe the U.S. economy is headed for hyperinflation and the alternative to currencies is precious metals. But it's physical gold and not future gold that we should be looking at. And personally, I predict that emancipated physical gold price from future gold price will go up from US$3,200 to US$3,500 an ounce by 2016."
"I'm a firm believer of the Singapore Precious Metals Exchange's business model and am confident that the platform addresses bullion trading challenges faced by traders, financial institutions and personal wealth investors like myself. By unifying buy, store, trade and transport elements under one platform, SGPMX will easily position itself as a catalyst for Singapore to achieve its goal as a trading hub for precious metals in Asia Pacific," Sinclair adds.
Victor Foo, CEO and founder of SGPMX said, "As part of the company's long term growth strategy, we have invited industry specialists and experts from various fields to form the Advisory Board. With each member's expertise, we are confident that they will not only value add to the management of the Exchange, but also drive the bullion industry forward with the initiatives in the pipeline."
Bios of Members of the SGPMX Advisory Board
Jim Sinclair, Executive Chairman of SGPMX
Sinclair is a precious metals specialist, commodities and foreign currency trader. He was the Chief Executive Officer of Northwestern Basemetals Company Limited since 2012. He has authored three books on precious metals, trading strategies and geopolitical events, and their relationship to world economics and the markets.
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