One11Freedom: STRAP IN PEOPLE…Shanghai Shock April 19, 2016: Yuan Based Gold Standard ;D https://politicalvelcraft.org/2016/02/01/shanghai-shock-april-19-2016-yuan-based-gold-standard/
Scotchie: On April 19th China will set the price of gold in yuan…..not gold-backed yuan, imo http://www.imf.org/external/index.htm the details on Legarde’s answering questions about the global economy
KLS: SCOTCHIE: What is the diff? Set gold price in yuan vs gold backed yuan? They will set the price of gold?
Scotchie: Yes, London now sets the price of gold in dollars, and China will now set the price of gold in yuan…not back their currency in gold. They want to be competition to London; however the price of gold is what the market dictates. There should be no difference, imo……
Starchild: This is all about flooding the market with US Treasuries thus crushing their value – Supply and demand. People buy Yuan Gold and Sell Treasuries to cover, the Fed has to eat the Treasuries to maintain value … until they no longer can.
Scotchie: The gold fix is conducted in the United States dollar (USD), the Pound sterling (GBP), and the Euro (EUR) daily at 10.30am and 3pm, by London time…now add the yuan
AdminBill: TANK ASKED ME TO PASS ON TO YOU THAT IF YOU HAVE ZIM MAKE SURE YOU MENTION HUMANITARIAN PROJECTS, PARTNERSHIPS WITH THE BANK AND THE EXPECTED LONG TERM COMMITMENT WHEN YOUR EXCHANGING BANK.
