Browsing: China

FMT News

For a moment, I want you to forget everything you know about gold. Forget about the monetary history, government debts, bond bubble, pension fund crisis, unsustainable financial system, and even the recent news about Iran no longer trading dollars or Turkey demanding a gold-backed system.

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Effective hours from now, a new oil futures contract denominated in Chinese yuan and convertible into gold will be open to the market. The demand for dollars will fall, as will the need for a large reserve of Treasuries.

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