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November 20, 2015

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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