If China really offers to pay for oil in gold, returning gold to the international payments system, it will change all currency values, Hugo Salinas Price of the Mexican Civic Association for Silver writes today.
Eight years ago fund manager and author Jim Rickards made a similar prediction about Russia's ability to change the system by demanding gold as payment for its oil and gas exports:
http://www.gata.org/node/8787
Of course demanding gold for oil is exactly what the United States persuaded Saudi Arabia not to do in 1974 in exchange for a guarantee of military defense.
Salinas Price's commentary is headlined "Prospects for Gold II" and it's posted at the association's internet site here:
http://www.plata.com.mx/mplata/articulos/arti...idarticulo=3...
