China launching gold back global currency

[Dissent]

SATC | Education | Article Content



Ruh Roh! This ain't good for the U.S.

 

[Old Rocks]

Ok....................??????:??????:?

 

[GuyPinestra]

Nope, not good at all.

Anyone for the Weimar Republic?

 

[8537]

A shop that sells gold bars is desperately trying to come up with reasons why people must buy gold?

Color me shocked.

Will China try to peg its currency to this new standard?

 

[Moonglow]

SATC | Education | Article Content



Ruh Roh! This ain't good for the U.S.

It's failed before, and it will again, there is not enough gold in circulation, to back all the currency.

 

[Unkotare]

Will China try to peg its currency to this new standard?

Astronomically unlikely. LOL!

 

[8537]

After decades of mindfully and intentionally taking steps to keep their currency steeply undervalued, China is now taking affirmative steps to make their currency steeply overvalued?

Yes, this makes sense. If you're trying to convince people to buy gold. otherwise it's batshit crazy, of course.

 

[Dissent]

A Chinese gold standard?- MSN Money
Does China plan a Gold-backed Renminbi? | Alternative

 

[TakeAStepBack]

The BRICS are working on a new bank to challenge the IMF and western currency dominance. China and Russia have been in talks to create a currency backed by gold, but as of now, it is all up for grabs.

That article points to before it is news. It's a prediciton and one that dates back a few years. As of now, there is no such launch or any official word that China is creating a gold standard.

Although the "there isn't enough gold for the currency" and similar arguments are entertaining.

 

[Moonglow]

That's right. All countries do not have enough gold to back th currency. Yes in a stable state, but what happens during a recession and money can't be devalued?

 

[TakeAStepBack]

A Chinese gold standard?- MSN Money
Does China plan a Gold-backed Renminbi? | Alternative

China is buying up gold. But these articles are dated. So far, there has been no official word on such a move. China would cut its own throat if it acted alone. If this move comes, it will be through the BRICS alliance.

 

[Mad Scientist]

Destroy the Dollar through massive printing. Move in and buy up what remains of America for cheap!

It's the perfect Bankers Plan!

 

[TakeAStepBack]

That's right. All countries do not have enough gold to back th currency. Yes in a stable state, but what happens during a recession and money can't be devalued?

Then the correction in such a down turn happens quickly and effetively. Instead of the never ending recession created by monetary inflation and fractional lending. There is no stable state in the world.

 

[uscitizen]

The selling of America to China will be our salvation?

 

[Truthmatters]

why does the right persist this with stupid idea?

 

[Moonglow]

That's right. All countries do not have enough gold to back th currency. Yes in a stable state, but what happens during a recession and money can't be devalued?

Then the correction in such a down turn happens quickly and effetively. Instead of the never ending recession created by monetary inflation and fractional lending. There is no stable state in the world.

That is true with humans.

 

[TakeAStepBack]

why does the right persist this with stupid idea?

The irony is absolutely delicious here.

 

[Mad Scientist]

why does the right persist this with stupid idea?

Please explain, in your own words, why this is a stupid idea without resorting to name calling.

I don't think you can do it.

 

[SniperFire]

I believe the intention here is to have a currency standard ready to go should the dollar actually collapse.

But Russia. China, Iran, etc. are certainly working on at least a system of barter to bypass the greenback.

 

[GuyPinestra]

The dollar is collapsing as we speak... We're about to get QE again, in the hopes that us peons don't march on Washington with pitchforks and tar buckets...