Commodity Trade Mantra

Posts Tagged ‘Gold Backed Renminbi’

Yes, A Gold-Backed Renminbi Can Dethrone The US Dollar

The US appears to be doing everything in its power to hasten the relative decline of its own currency. Seems that the days of exorbitant privilege of issuing a currency that’s also the global reserve currency may be coming to an end – to be replaced, in time, with a bi-polar reserve currency world incorporating both the US dollar & the renminbi.

Internationalization Renminbi Requires Increase In Gold Reserves

China has a great interest to support the renminbi with gold, having an x amount of tonnes at the PBOC, to give their currency trust and credibility. A gold backed renminbi is completely unrealistic at this point because the renminbi is still in it’s infancy – capital controls need to be lifted, full convertibility needs to implemented, etc.

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