Hi Yiwu, interesting, and provides the ingredients for chaos, as each major block demands the same status for their own export (Saudi currency for Saudi oil, etc), thus setting off an unintended competitive and mutually reinforcing round of fiat appreciation of currencies, choking off world trade, making all not well, etc, despair, and so forth, anguish, ad infinitum, conflict.
Gold is a good currency for commerce in an environment of distrust, and gold backed fiat money is second best given its convenience, as the Chinese intended when they invented paper currency (silver backed) way back when.
We are rapidly getting waist deep in distrust.
Maurice do not understand gold as yet, but he will, hopefully not too late.
Chugs, Jay |
