So to illustrate my point about China have a read of this - the premiums paid in Asian nations go directly to middle men or govt authorised dealers - and because the govt in CN is now making moves to free up supply of physical metal premiums will reduce quickly - it's important to the CN govt to get rid of the reliance on western exchanges. Bear in mind however that members of LBMA and merchant banks have been involved in setting up the Shanghai exchange as 'consultants' with equity stakes (aka the usual banksters octopus gang):
http://www.zerohedge.com/news/2014-01-15/china-eases-physical-gold-restrictions
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