China’s Stunning Plan For Gold And A New Monetary System
- China’s Stunning Plan For Gold And A New Monetary System
With many investors worried about the economic turmoil that has engulfed the globe, here is China’s stunning plan for gold and a new monetary system.
China’s Plan For Gold & A New Monetary System
Stephen Leeb: “The world is headed to a new monetary system. But most in the West are still valiantly trying to deny that reality. Whether you’re reading The New York Times or Bloomberg News, or delving into recent white papers released by various institutions, you’re sure to find anti-gold propaganda, stories about how oil is plentiful, all the while stalwartly maintaining that the dollar won’t be superseded by the renminbi…
Gold’s Role In The New Monetary System
All said, we still think Plan A is China’s plan. The renminbi’s inclusion in the SDR will be followed by the establishment of an Eastern oil benchmark under Chinese auspices. (It never ceases to amaze me how the most important news, such as the budding friendship between Russia and Saudi Arabia, never makes headlines). Gold will be added to the SDR, and the new monetary system will be ready to go. Can anyone say five-digit gold? Get used to it. But as we said above, China may choose to proceed to this goal at a very deliberate pace.
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