July 24. China’s biggest banks are killing retail paper gold trading.
ICBC, Postal Savings, Ping An. All of them. After the 24th their retail clients can’t touch leveraged or cash settled gold contracts anymore.
The official reason is “risk management.”
Now look at the timing.
July 7, Hong Kong quietly launched a state owned gold clearing system. Their own price ticker. BOC as the vault. Plans for 2,000+ tonnes of storage capacity.
China isn’t stopping its people from buying gold. It’s forcing the demand out of paper and into metal, while building the plumbing to price that metal in Asia.
London and New York price gold with contracts. Beijing wants it priced with bars.
Nothing happens to price on the 25th. But give it a few years and you’ll remember this month as the start of it.
The best trading fund that ever existed made about 66% a year.
Not in a week. A year. And that number made them the most feared money machine in history.
Meanwhile your average trader opens the app monday morning trying to turn $500 into $5,000 by friday.
That gap right there is the whole game.
This is Medallion. It charges 5% a year AND takes 44% of your profits, and it still won’t let you put a dollar in. On roughly $10B that 5% is about $500m in fees before you even see a gain. Sounds insane until you find out it ran 30+ years without a single losing one and threw off billions every year like clockwork.
They cap the fund and throw outside money out on purpose, because the edge dies once it gets too big.
The greatest quants alive celebrate 66% a year. Retail wants 100% a week and calls slow money a waste of time.
One of those mindsets builds generational wealth. The other blows the account and starts over every 3 months.
Which one are you?
There should be a death sentence for a lot of things in this life. This woman had 3 kids for her husband, the firstborn is already 21 years old, and according to the story shared on Kokoro Alate, none of the 3 kids belongs to the man. He is already 56 years old.
People started telling the man that his third child looked exactly like their pastor. That was when he became suspicious and came online to seek help after repeatedly begging his wife to tell him the truth.
• The man raised all three children believing they were biologically his.
• Despite his financial struggles, he did everything possible to provide for them, even borrowing money when necessary to take care of their needs and education.
• His firstborn is already 21 years old, and he reportedly sponsored the child through university.
• Trouble started when people began telling him that his third child looked exactly like their pastor.
• He became suspicious and repeatedly begged his wife to tell him the truth about the children.
• His wife insisted that all three children belonged to him and reportedly left the house at some point, accusing him of not trusting her.
• The man eventually came online to seek help, and the matter led to DNA tests being conducted.
• The DNA results reportedly showed that NONE of the three children was biologically his.
• Two of the children were allegedly fathered by their pastor.
• The firstborn, whom the man had already sponsored through university, reportedly belonged to another man entirely.
• The painful part is that the woman allegedly knew the truth all along, yet allowed him to spend more money conducting DNA tests to discover what she already knew.
• The man is now 56 years old, after spending more than two decades raising and providing for three children he believed were his.
Imagine dedicating over 20 years of your life, finances and emotions to raising three children you believed were biologically yours, only to discover at 56 that none of them is yours.
Stories like this make me wonder how many similar things happened in our parents' generation but never became public because there was no social media to amplify them.