I have never made much if any comment about China purchase of USA T-bills, or that China desiring the RMB to be a reserve currency (and catch other people’s lice and put in own hair, per reserve currency ends badly).
I occasionally made remarks about China savings and banking, but only when someone else makes some remark that is just plain wrong.
China wants to, shall, and is scientifically edging towards having own trade be denominated in RMB, digital RMB, and leave the reserve to others, and by and by, to gold. That is a very different thing then saying RMB would be backed by gold. RMB shall likely never be backed by anything other than more RMB.
Gold is for holding, having, counting, and fondling, and not for backing, using, or otherwise encumbered. When and if anyone’s gold needs to be encumbered, run away, fast, in the opposite direction.
IOW, China wants to and is ‘internationalizing’ the RMB, i.e. having trades denominated and settled in RMB.
However, China is also exporting RMB capital and importing commercial opportunities by ways of BRI and GBA and and and, creating employment opportunities here there everywhere along the roads, besides the belts, and within zones, areas, domains, and none requiring China to serve as banker to the world, only as merchant to the planet.
Long gaming.
No less long than gold reform Message 25916530 , and
rare earth initiative Message 25974150 and Message 24158271 and Message 21465113
I prefer to be earlier than later in spotting opportunities and detecting dangers :0) but my in-law is better than I at the game, starting at 2-seats and equivalent $12 per share, held, all-in basis, and now at $364 on near-all-in basis.
 |
