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China's Gold Backed Yuan:

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    China's Gold Backed Yuan:

    Game changer, or much ado about nothing?

    http://www.forbes.com/sites/kitconew.../#13bb79c373b7

    "In an interview with Kitco News in February, Bernard Dahdah, precious metals analyst at Natixis, said that China is the world’s largest gold-consuming nation, the world’s biggest gold-producing nation and has ambitions to be the world’s major gold hub."



    http://www.zerohedge.com/news/2016-0...ost-dollar-era

    http://www.reuters.com/article/china...-idUSL3N17G1Z5

    "A yuan gold fix is not expected to pose an immediate threat to the gold pricing dominance of London and New York, but it could ultimately give Asia more power, particularly if the Chinese currency becomes fully convertible."






    "L E X - T A L I O N I S"

    #2
    Game changer if the Yuan is now backed by gold and not credit/debit/gnp.

    Hell, wars have been fought over the concept of someone starting the petrol/ gold dollar as it is.

    This will be interesting, since currently I dont think there is any gold backed currency being used.
    ~" If you suck ass long enough, pretty soon you start choking on shit."~

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      #3
      They won't be able to expand uncontrollably like they are now with a gold backed currency. Unless they just fudge the numbers and paint tungsten bars with yellow paint.
      This sig didn't cost me any money.

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        #4
        a dozen of eggs, cant eat gold can ya eat lead?
        "Virtute et armis"

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          #5
          http://www.forbes.com/sites/nathanle.../#431021b21803


          "Many have considered the phony “paper gold” markets, including the U.S. Comex futures market and also, potentially, gold ETFs, to be a significant impediment to using gold as a standard of currency value. Is China laying the framework for a new world gold standard system? OneChinese analyst called it “the culmination of a two-year plan to move away from a U.S.-centric monetary system.”

          "The long history of floating fiat currencies ends in their eventual self-destruction. I am not going to say that will happen right away, but I note that “
          helicopter money” is becoming a serious topic of conversation, and that legendary macro investor Stanley Druckenmiller is becoming a major owner of gold. If the dollar-centric era is coming to an end, we now know what will replace it."
          "L E X - T A L I O N I S"

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            #6
            Doesn't really matter what the currency is backed with if the economic system is not focused on sustainability.


            Perpetual growth is not sustainable. There will be contractions, and if your system can't manage that then maybe you should take a good look and evaluate things.
            This sig didn't cost me any money.

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