Senior: Something interesting came up at a local bank in my area today – read into this however you would like. In January, I phoned the bank and they told me they are not dealing with the Dinar or Dong. I just called again for fun and two of their branches have exchange centers set up and ready to go
They said they are currently exchanged both currencies. But, they rates are still what we can see. At least I know where I can go when this thing pops!
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Dedar: This looks very interesting with
Zimbabwe.http://www.aljazeera.com/news/2016/09/cash-strapped-zimbabwe-print-75m-bond-notes-160915150605660.html
Robert001: We are just hours away now from what was brought into here this week. Triple Witching,, lots of issues come out of that !!!!
REI: I’ve got my popcorn and am ready for the show!
Jose: the triple witching occurs 4 times a year. Why is this one a big deal
Tripn88: It occurs 3rd Friday in months 3-6-9-12. Day before and into that day markets go crazy and a lot of good happens due to some panicing and some greed..regardless its always good results.
Robert001: Jose,, cause one of the four is tomorrow. Could take a huge toll.
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Post-Dollar World Emerging in Eurasia with the Gold Yuan
3:14:00 PM News
Gold Yuan: Post-Dollar World Order Emerging in Eurasia – SputnikNews
A ‘post-American’ and ‘post-dollar’ multipolar world is struggling to be born. In an interview with Sputnik geostrategic analyst Mathew Maavak and CNTV editor Tom McGregor shed light on current geopolitical trends and prospects of Eurasia’s integration process.
Back in April 2016 China launched a yuan-denominated gold price fix on the Shanghai Gold Exchange (SGE), while in June Hong Kong Exchanges and Clearing Ltd. signaled its readiness to introduce a physically-delivered gold futures contract, settled in yuan and the US dollar in September.
“Asia, the top bullion-buying region, has seen several gold contracts launched in the last few years as it clamors to gain pricing power over the metal,” Reuters reported on June 14.
Simultaneously, Beijing is accumulating the precious metal at a steady pace. According to the World Gold Council’s latest chart, China’s official gold holdings amount to 1,828 tons. For comparison’s sake, in the second quarter of 2000 Beijing owned only 395.01 tons.
Meanwhile, China is pushing ahead with the internationalization of its currency. On October 1, the International Monetary Fund’s SDR (Special Drawing Right) basket will be officially expanded to include the Chinese yuan (renminbi, RMB) as the fifth currency, along with the US dollar, euro, the Japanese yen, and pound sterling.
It seems that Beijing is seeking to boost demand for the yuan, at the expense of the US dollar.
Gold Yuan as Viable Alternative for US Dollar
These developments have prompted a lively debate regarding the possibility of a gold-backed renminbi competing with the dollar, and China’s increasing role on the bullion market.
“The recently-opened Shanghai Gold Exchange differs greatly from the London Gold Exchange in one fundamental area: In Shanghai, buyers take physical delivery of gold whereas London deals in paper-based gold futures contracts. In Shanghai, ‘what you buy is what you get’ whereas in the West, gold is a virtualized commodity,” Tom McGregor, Commentator and Editor at CNTV (China Network Television), told Sputnik.
Read More at : https://sputniknews.com/politics/20160915/1045341538/gold-yuan-china-dollar-eurasia.html
