If China Backs Its Currency with Gold, It Could Have Profound Effects for Investors … and ConsumersLarry Edelson – - writes today:
I know for a fact that Beijing wants its yuan to eventually become a gold-backed currency, much like the Swiss franc was originally. Backing the yuan with some gold will certainly help it become a major international currency.Edelson is a financial adviser who travels frequently to Asia, a former high-volume gold trader who is interviewed a lot in the mainstream financial media.
I have no idea whether Edelson is right or not. But he’s not the first to make the claim.
Will China Make the Yuan a Gold-Backed Currency? was originally published on Washington's Blog