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November 20, 2015

3

Chinese Yuan to Replace USD as Reserve Currency

by oakley711

Chinese Yuan to Replace USD as Reserve Currency

Peter Schiff on RT Boom Bust 11/17/2015:

Not many people understand the TRUTH. it not their fault because our education system is designed to keep this in the dark ….but the truth of the matter is the dollar is only 44 years old …. 1933 ended classical gold standard  1971 ended the Brenton woods system ( 40%) gold backing ….I do feel people are starting to wake up now  a days …. yes hold on to your gold/silver the price is low because they are suppressing it big time . ..wonder how long that can last though.

gold bars - spot gold priceI would agree with you Peter but, I read somewhere since 2008 china has quadrupled it’s debt 20 something trillion to boost growth. Now, it’s finding it hard to transition to a consumption based economy to sustain it’s growth rate. So how a gold based Yuan going to work? Perhaps China will wait for an economic collapse and in a fresh start introduce this new gold backed Yuan.

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3 Comments Post a comment
  1. Russia could throw a wrench into the entire global system …here how : ….announce a gold backed ruble ….and offer $5000/ oz (converted into ruble ) and that would cause an arbitrage like never seen before all gold being bought at the fake suppressed 1070$ us price and sold for a $4000 profit immediately to Russia …. this would cause all the gold in the west to go right to Russia …..they could then have all the gold and just print paper to pay for it ! …..wont be inflationary because gold is coming in big time …… then they can use interst rates to entise people to hold paper?

  2. Nov 20 2015

    A strong yuan means that China will be an importer and not an exporter. Won’t happen.?

  3. Nov 20 2015

    It may be gauche to say but I, personally, believe that the attacks in Paris were executed to COVER the IMF endorsement of the yuan in the SDR basket. Notice that this economic news had NO impact on the markets! Slipped right by because of the murders in Paris. Get it yet?????

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