gold? prolly gold plated tungsten...
Posted on 04/16/2016 6:08:49 PM PDT by combat_boots
In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19.
When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets.
But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been "staggering." And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade: The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold. Which currency would YOU use?
When this new currency is issued, countries that have been forced to use US Dollars for decades, and have had to keep billions of dollars in their foreign currency reserves, will be free to dump those dollars. But they won't be able to dump them to China for the new gold-backed, Yuan!
China has reportedly decided "there can be no conversion of gold-backed Yuan to or from US dollars."
(Excerpt) Read more at superstation95.com ...
gold? prolly gold plated tungsten...
That’s definitely a factor that is going to be a problem. Once a culture has fallen out of love of having children, it usually doesn’t come back.
Thanks for posting. Not breaking news, but maybe someone will pay attention?
1. Are there any other sources for this scenario?
2. I don’t see China refusing just the dollar because its not gold backed. None of the fiats are gold backed. What would they really accept?
Most of these articles are written by sleazy people selling gold futures.
China’s Fort Knox will be just like the US Fort Knox.
Trust us. We have the gold.
go ahead, but I wish they'd aim higher.
http://www.woodworkingnetwork.com/furniture/rol-usa-invests-20-million-michigan-manufacturing-plant
http://www.grbj.com/articles/82924-grand-rapids-ranks-as-no-3-manufacturing-boomtown-in-us
Come to Michigan. We need workers in nothern Michigan.
A very conservative place to live!! Kinda redneck in truth. Hunting, fishing, and pickup trucks.
We moved here a year ago and love it more than we could have believed we would.
Today was 72 with 22% humidity.
It’s true, China is the world biggest consumer and producer of gold and wants to take over from London the price fix of gold and set it in Yuan.
But I don’t think the US economy is going to collapse on Tuesday.
Resources. They might be willing to overpay the value of them to own them.
Smart move by China.
If you want to transact in Yuan, you’ll probably have to buy Gold or Silver to then convert to Yuan.
IMHO, this will force a price reset for precious monetary metals.
Big time game changer that will significantly weaken the Bankster’s power.
It cannot happen soon enough!
Two things people should keep their eye on - Our dollar is under attack.
This thing with China, of course.
And Saudi Arabia is threatening to sell off their US holdings if the 9/11 commission report implicates Saudi Arabia.
This is going to be a helluva week. And you all know that we have the WRONG people in the driver’s seat.
China’s Fort Knox will be just like the US Fort Knox.
Trust us. We have the gold.
Are you sure? Here’s a story from 1974 that appears to be a true:
There was a story in the National Tatler in 1974 that David Rockefeller bought the gold that was in fort Knox through back channels at the federal reserve. This story was relayed to them from an anonymous source that overheard Nelson Rockefeller telling the story. Nelson Rockefeller’s executive assistant (59 yo Louise Auchincloss Boyer grandaughter of Col House - the real president during Wilson’s presidency that brought us the fed and cousin to Jackie Auchincloss Kennedy) was later found to be the source and died from a fall from her hi-rise apartment in NYC three days later.
http://s6.zetaboards.com/Bill_Still_Reforum/topic/1176801/1/
Can’t wait to see what happens when all the countries which think they have gold in the care of the Federal Reserve come to claim their property.
We got a preview already with Germany, who got told that a small fraction of their gold would take seven years to deliver.
Wonder how many allies we’re going to have left after this?
Yes they do.
That’s a mandate from their Communist government. I’m not a fan.
BS article. It’s impossible for China to de-link it’s currency to the dollar. They may say they are, but it just isn’t going to happen.
Why would you ever want to transact in Yuan?
Laughable.
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