Commodity Trade Mantra

Posts Tagged ‘Foreign Currency Reserves’

China's Increasing Presence in Gold Market - An Obsession to Prop up Yuan

No doubt that Chinese officials see gold as an important asset for the future. Is China’s quest to put the yuan on the world stage closely related to this involvement in gold? Will China actually come up with some kind of a gold-backed currency? Actually, China’s fixation on gold is a story of diversification that can lessen the devastation of central planning gone wrong.

China’s Gold Hoard Will Slay the Mighty Dollar — Here’s Why

China is soon going to want to disclose its gold holdings in an effort to have the yuan join the IMF’s currency basket – the SDR, currently having only the dollar, euro, yen & British pound. If China’s gold reserve is revealed this year and the size of the addition surprises to the upside, it is going to be a major shot across the bow of the U.S. dollar.

26 Other Ways China, The Largest Economy, Has Surpassed America

In terms of raw GDP, the U.S. is still number one, at least for now. But according to the IMF, China is now the number one economy on the entire planet in terms of purchasing power…China accounts for more total global trade than the US, consumes more energy than the US & China now manufactures more goods than the US does.

Why The West Sells Gold And China Buys It

Western economies have created a finance industry dependent on fiat paper, have survived without using gold as money and therefore predisposed to dismiss gold as never being money again. So the West is less worried about losing physical gold than it should be & China is glad of the opportunity.

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