China's Monetary Ascension Is Paved With Gold
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China's Monetary Ascension Is Paved With Gold
by Ponee Fri Sep 02, 2016 9:36 pm
The world monetary order is changing. Slowly but steadily, global trade and currency markets are becoming less dollar-centric.
Formerly marginal currencies such as the Chinese yuan now stand to become serious competitors to U.S. dollar dominance.
Could gold also begin to emerge as a leading currency in world trade? Over time, it certainly could.
But the more immediate implications for gold’s monetary role center on its increasing accumulation by central banks such as China’s.
On October 1st, the Chinese yuan is slated to enter the International Monetary Fund’s Special Drawing Right (SDR) basket of top-tier currencies.
It will share SDR status with the U.S. dollar, euro, British pound, and Japanese yen.
http://www.zerohedge.com/news/2016-09-02/chinas-monetary-ascension-paved-gold
Formerly marginal currencies such as the Chinese yuan now stand to become serious competitors to U.S. dollar dominance.
Could gold also begin to emerge as a leading currency in world trade? Over time, it certainly could.
But the more immediate implications for gold’s monetary role center on its increasing accumulation by central banks such as China’s.
On October 1st, the Chinese yuan is slated to enter the International Monetary Fund’s Special Drawing Right (SDR) basket of top-tier currencies.
It will share SDR status with the U.S. dollar, euro, British pound, and Japanese yen.
http://www.zerohedge.com/news/2016-09-02/chinas-monetary-ascension-paved-gold
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Re: China's Monetary Ascension Is Paved With Gold
by Kevind53 Fri Sep 02, 2016 11:29 pm
Pump that gold ... I wonder how much of a kick back they get from the gold dealers. These clowns are as bad as the gurus. The guy who started it needed something to make money with after his license go yanked for insider training I guess. The Chinese Renminbi, (not the Yaun, that's a denomination like say a dime,) will make something like 8% of the SDR basket. Really it's not much more than a prestige thing since the SDRs are rarely, if ever, used.
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