South China Morning Post/Wendy Wu/04-02-17
Russia’s central bank opened its first overseas office in Beijing on Thursday, marking a small step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system.
It was part of agreements made between the two neighbours to seek stronger economic ties since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy.
PG View: ZeroHedge reports that the plan is to “phase-in a gold-backed standard of trade.” Such a move would be very positive for gold.
