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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 366.09-0.1%4:00 PM EST
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To: Pogeu Mahone who wrote (201224)9/4/2023 12:32:12 AM
From: TobagoJack  Read Replies (2) of 217550
 
Re <<Please explain to me HOW will gold back a BRIC currency With these measly sums?>>

Message 34341236
Team China has no plans to replace the USD as reserve currency.
Team China shall merely and gradually trade more and more and more in RMB.
Re <<measly sums?>>

... just says the price of gold is too low relative to the amount of trading.

As to <<gold back>>

... convertible to gold does not equate to gold-backed / gold-standard

... but just means gold is 'banked', with proper / infrastructural on- / off- ramps between fiat and gold, the opposite of 'de-banked'

in HK we have had easy on- / off- ramps to gold since forever ago, at button push, from every bank a/c as matter of course

same going on in China since more recent times
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