Posted on 04/16/2021 9:55:52 AM PDT by SeekAndFind
Gotta wonder if there is anything in Fort Knox....Nothing in For Knox for a while, but plenty of gold in the basement of the Federal Reserve Bank of New York. Or at least they so allege and you can see pictures on their website.
tungsten backed yuan more probably
Likely in preparation for going on the QFS.
A roll of quarters is now selling for about $250.
In view of the coming inflation, IMO it is cheap.
I imagine two different scenarios.
1) To recover its currency from hyperinflation. After WWI, Germany’s fiat currency, the *papiermark*, rapidly became worthless. To recover from this, a second currency only used between the government, and between businesses was created. A gold backed currency called the *rentenmark*. It worked, thus paving the way for a still gold backed, but stable *public* currency, called the *reichsmark*.
But you cannot make a gold backed currency without gold.
This scenario suggests the CCP sees international hyperinflation as inevitable.
The 2) scenario(s) are all the bad conspiracy theories blended together. That the CCP wants the Yuan to be the world’s dominant currency, and wants the Yuan to be digital.
However, I think the Chinese are too conservative for this double edged sword.
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