chinese told truth about gold manipulation ..., page-9

Zugszwang

Parrot may well be an excellent trader. (I don't followed him/her, so I don't know.)

Even if he was an excellent trader, that does not change the fact that certain statements in the article that he/she reproduced are nonsense.

The article challenges the integrity of the clearing houses to certain large futures exchanges with respect to their ability to deliver. The term "paper gold" suggests that isn't proper backing to the contracts. This isn't true.

My point is that a vast majority of contracts, bought and sold, are never intended for delivery. That don't mean that there isn't any corresponding gold. The contracts replicate the price movement, and the gold is usually settled elsewhere at the spot price on the day of expiry. It is more cost effective to do it that way.

The author of the article, Vivian Ni, is a publicist promoting the new exchange using the ingenuous strategy of citing certain opaque statistics to cast down the integrity of their competitors.

Putting aside the hyperbole, I don't see any difference between this new exchange and the old ones, except that it is based in jurisdiction where I would be less confident, if I was placed in the unhappy position of protecting my contractural rights at law.