Is China Preparing A Gold-Backed Yuan: Beijing Greenlights Purchases Of Billions In Bullion | ZeroHedge

Source: Is China Preparing A Gold-Backed Yuan: Beijing Greenlights Purchases Of Billions In Bullion | ZeroHedge

KW: Given the complete unpredictablity of the market movements so far this year of 2021 and the previous 6 months of 2020 I am wary of puting up a positive reference for gold to get some backing. However with an exploding economy in China as global trade recovers it is not silly to think that China could make a move to give strong backing to their currency as the U.S. self implodes the U.S.$.

The idea is plausible but not yet probable in my opinion but the Americans are so deluding themselves about their own economic prowess it’s not impossible that such a thing could happen. Food for thought

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