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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.22-0.2%4:00 PM EST
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To: Ilaine who wrote (10372)10/22/2006 7:52:30 PM
From: TobagoJack  Read Replies (1) of 217910
 
<<I doubt very much that Chinese money, with a real GDP of about $8 trillion based on PPP (purchasing power parity) rather than the official exchange rate, is sufficiently backed by gold, either, but I don't expect yours to break, anymore than I expect ours to break, now that they just give lip service to the official exchange rate.>>

... since when is the RMB a global reserve upon which the global monetary system is based?

Of course I do not expect the Zimbabwe monetary system to break.

I do expect the current defacto global system to first rust, as it is, then break, followed by crumbling, and finally collapse. Don't you?
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