Posts

Anyone else hear rumours that gold backed Yuan will displace US dollars?

avatar of @ssjsasha
25
@ssjsasha
·
·
0 views
·
1 min read

I can not be the only one seeing comments here and there about China positioning itself to be the worlds reserve currency.

I read a few articles a few months ago about the secret stash of gold held by China.

It is roughly estimated that USA holds around 8,500 tonnes of gold, while china holds around 3,400 tonnes.

But the rumours are China actually holds around 15,400 tonnes which is roughly 1.8 times the US amount. There are reasons why China would want to hide how much gold they hold, they don’t want to play their hand too soon. If people knew maybe the price of gold would sky rocket, or maybe moves would be made to counter this move China is making.

If Russia and China stop recognizing the US dollar as the world reserve currency and instead go with something like a gold back Yuan it could spell trouble for many in the west.

The only “worry” I have about stacking gold is that it could be confiscated. Americans have had their gold confiscated before. In China the people have more “trust” towards their government VS Americans so they would likely proudly hand over their gold to the state to help China make their moves.

My gut feeling is telling me to focus on gold more than silver. I might just keep moving forward 50/50 but I will keep paying attention to my gut feelings towards gold.

Posted Using LeoFinance Beta