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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 445.60-10.1%Jan 30 4:00 PM EST
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To: TobagoJack who wrote (103933)12/8/2013 6:34:15 PM
From: KyrosL  Read Replies (2) of 219950
 
I suspect sooner or later, probably sooner, the PBOC will announce that it has gold reserves comparable or even greater than the Fed or ECB. Perhaps this is an essential step before making the yuan freely convertible. Since the biggest problem of yuan convertibility is that the Chinese people themselves may be not trust the yuan, gold backing stronger than the dollar or euro may be necessary to overcome the distrust.
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