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China has pegged the price of gold to 900 SDRs

serfserf Member Posts: 8,858 ✭✭✭✭
edited July 2018 in Politics
Interesting Data here! [:D]

serf

https://seekingalpha.com/article/4185877-china-pegged-gold-price-value-sdrs

Gold Priced in SDRs

On October 1st, 2016, the IMF added the Chinese yuan to the currency basket of the SDR. Since that time, we can see how the price of gold ? expressed in SDRs ? has traded in a compressing range between 850 and 950 SDRs per ounce. In his article, Mr. Rickards opines that China has pegged the price of gold to 900 SDRs per ounce.

Comments

  • droptopdroptop Member Posts: 8,925
    edited November -1
    Need to determine what an SDR is Special Drawing Right?

    How many ounces of gold does an SDR purchase.

    The word obfuscation comes to mind.
  • serfserf Member Posts: 8,858 ✭✭✭✭
    edited November -1
    quote:Originally posted by us55840

    Probably doesn't not matter as the government just imposed new tariffs on china... a total of $200 BILLION!

    Leveling the playing field. [8D]


    That is only a symptom (Trade tariffs)The debt in America is 21 trillion dollars.Now our currency is not back up by what we make here in America (exports). Nothing but The US tax payers with Fees can help now. The Cities are dead broke along with The counties and watch the cancer grow exponential very soon.

    China will stop buying Treasuries Bonds next and that will cause inflation to increase because we must raise our interest rates and devalue our US dollar so SDR's will use a BASKET of currencies and gold to offset America's inability to have a reserve currency.

    The USA has been sold out to help The NWO establish a world currency for Free trade in the future. America will be robbed by stag inflation very soon.

    Our elites in congress are nothing but stupid boot lickers for The NWO and have no conception of how they/we are being lead to the slaughterhouse.

    They will go buy some derivatives and credit default swaps at the casino and that should help for little while but they are only kicking the can down the road very short road.


    serf
  • spasmcreekspasmcreek Member Posts: 38,925
    edited November -1
    can't really work much anymore and sold some ground to fund living and trying to figure out how best to stretch this money till i croak...do not like it all in banks who reguard your deposit as UNsecured loan
  • serfserf Member Posts: 8,858 ✭✭✭✭
    edited November -1
    Could the IMF's 'world currency' help encourage global unity?

    https://www.theguardian.com/business/2017/apr/24/imf-populism-nationalism-sdr-reserve-currency

    While it is not easy to combine developmental and commercial activities, the implications for global growth and stability of not doing so suggest that it is an effort that should be explored. Moreover, the IMF could start small, focusing on interactions with other official multilateral and regional institutions, sovereign wealth funds, and multinational financial companies ? all anchored by an active coalition of the willing among the G20.

    In an ideal world, the SDR would have evolved into more of a reserve currency during the era of accelerated trade and financial globalisation. In the world as it is today, the international monetary system faces two options: fragmentation, with all the risks and opportunity costs that this implies, or an incremental approach to bolstering the global economy?s resilience and potential growth, based on bottom-up partnerships that facilitate systemic progress.
  • spasmcreekspasmcreek Member Posts: 38,925
    edited November -1
    wonder if a push button speech spectacle in his new mausoleum in chitcago will present this FACT to the unenlightened who visit ??
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