Instead of speculating, The Doc decided to do a little investigation into the HKMEx board of directors.
Honestly, we found less than we had anticipated. Amazingly, no one from JP Morgan, HSBC, or Goldman Sachs made the board. Heck, we couldn't even find a Rothschild. We did find two possibly noteworthy figures, and the most suspicious is in fact the HKMEx Executive Director and President.
First, the list of the entire board.
Of the directors we thought are possibly noteworthy, we'll begin with the Executive Director and President of the HKMex, Albert Helmig.
Per Mr. Helmig's LinkedIn Profile (facebook for business types), Mr. Helmig's past includes:
- Past
- CEO at Grey House
- member at National Committee US China Relations
- Vice Chairman, Board of Directors, Executive Ctm. at New York Mercantile Exchange (NYMEX)
- Board Memeber at International Precious Metals Institute
- Principle at The Helmig Corp/Energex
- International Commodity Specialist at Prudential Bache
- Head of Trading and Risk Management- CFO. at Helmig & Co. Inc.
- Commodity and FX Broker at Merrill Lynch
- Education
- Philadelphia University
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Mr Albert HELMIG |
From HKMEx: Mr Albert Helmig is an Executive Director and President of the Hong Kong Mercantile Exchange. He leads the day-to-day operation of the Exchange. Together with an international pool of talented professionals, he works to build China’s global marketplace in one of the region’s most prominent financial hubs, Hong Kong. Mr Helmig is the third generation of his family to work in the commodities trading industry. He has more than 35 years of commodities experience on Wall Street and as a commodities merchant spanning both physical commodities and financial instruments on a global basis. He is a former Vice Chairman of the New York Mercantile Exchange, and he served on the Board of Directors and the Executive Committee for 10 years and was Chairman or Vice Chairman of over 20 committees. Mr Helmig was Founder and Chief Executive of Grey House LLC, a private consulting firm on risk management, price models and industry best practices to clients such as financial institutions, producers, integrated energy companies, government agencies and ministries, think tanks and law firms. He is a frequent contributor at industry forums and to the media. He serves on the Advisory Board of Energy Intelligence Group as well as other corporate boards. Mr Helmig holds degrees in Finance and Economics from Philadelphia University. |
The second possibly noteworthy director is Alasdair Morrison.
Mr. Morrison is currently a senior advisor for Citigroup, and previously was Chairman and CEO of Morgan Stanley Asia.
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Mr Alasdair G. MORRISON |
Mr Alastair Morrison is an Independent Non-Executive Director of the Hong Kong Mercantile Exchange. He is a British national who has lived and worked in Asia since 1971. He holds a number of non-executive directorships and participates in a number of Government and community organizations. He is currently Senior Advisor of Citigroup Asia Pacific, a leading global financial services company, an Independent Non-Executive Director at MTR Corporation Limited, and is also non-executive Chairman of Kang & Company, Limited, based in Hong Kong, a private equity firm founded in late 2007, with offices in Beijing, Hong Kong and Seoul. Previously, Mr Morrison served as Group Managing Director of the Jardine Matheson Group and subsequently as Chairman and CEO for Morgan Stanley Asia. With his many years in Asia, including living and working in Hong Kong, Australia and the Philippines, Mr Morrison has built extensive regional contacts in the corporate and government communities. He has participated in a number of high level government-sponsored working groups and is an active member of the community in Hong Kong. Mr Morrison was born in Scotland on September 29, 1948, and is a graduate of Eton College and Cambridge University. He attended the Program for Management Development at Harvard Business School in 1983.The rest of the board members are Chinese (1 Indian). Click here to read bio's of entire HKMex board of directors: So in conclusion, Albert Helmig, the HKMEx Director and President is the one board member that appears to possibly have any significant connection to the cartel. Keep in mind that everything must run through the Director and President of the Board. Perhaps this is the cartel's man to keep things under control, while not making cartel influence blatantly obvious by filling the entire board with JPM, Goldman etc. officials? With this knowledge in hand, we welcome our reader's thoughts on the matter. -The Doc |
11 comments:
Cartel sent two representatives to oversea the colonies?
very interesting. nice work.
Although these futures markets sop up allot of liquidity that would otherwise go into physical metal, it seems they are still used as a vehicle for some to take delivery. Something tells me that asians are not as indoctrinated against physical holdings as we are in the states so more access to the market for them will mean higher prices in metals....especially when they can trade out some paper dollars.
The price action will tell us all we need to know. For example, if we get regular waterfall declines, like Comex, we'll know it's rigged.
Silver is a strategic metal, is essential for industry and time is real money, well aware estn Asians are going to accumulate all the physical metal they can get, so avoid the price to shoot upwards, but demand for physical metal will necessarily go up in price, this is inevitable. It is also desirable that a strategic metal price rises gradually, if the price artificially low, then the rise would be much stronger. In short, it's good for Asians to enter this market and the price of silver rises gradually.
I hope it's legit. Time will tell. I root for Gold and Silver to rise since I own physical. But ever since the takedown in May (while most of us were sleeping or enjoying holiday) I keep getting that feeling the bastards are up to something once again behind closed doors. Quick...check the calendar for any long weekends coming up!
Looks like the Cartel wants to keep an eye on its most dangerous neighbors...., the ones who own the deed to their property. It appears the Cartel has placed a couple of flies in the ointment, as the good book says a little leaven ruins the whole lump.
Government, being government, it has crossed my mind that this Asian metals exchange is a ruse to further extend suppression of metals into the Orient. Take note that many of the operating executives are ex-pat Brits and Yanks. Not exactly a comforting circumstance.
Although these futures markets sop up allot of liquidity that would otherwise go into physical metal, it seems they are still used as a vehicle for some to take delivery. Something tells me that asians are not as indoctrinated against physical holdings as we are in the states so more access to the market for them will mean higher prices in metals. It won't take long to tell.
This is a good report and it is appreciated. In the end I had the last check and it was my gut feeling. My gut feeling tells me that it is more of the same with window dressing because now we can blame it on China.
Here are some shadows lurking around.
1. It is in Asia's interest for the dollar not to devalue. The reason is that they own too many dollar assets.
2. They need more time to unwind those assets while the dollar is at its current level.
3. One of the ways to maintain the value of the dollar is to work with the Fed.
4. They can repeat the raids on the metals like they did recently and the press will blame it on the Asians, specifically China.
5. Maybe unrelated, but Chinese were invited to the Bilderberg meeting in Switzerland, if that has any meaning.
Believe me, this is one time I hope I am wrong for our silverbug sakes.
http://tradewithdave.com/?p=7292
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