Articles NewsFlow Gold & Silver Prices Market Briefing

Recevez notre Marketbriefing

The Recusant
Member since May 2012
113 commentaries - 2 followers

2 followers

has posted a comment on the article :

China, oil for gold and the Prospects for Gold

- Hugo Salinas Price - Plata.com

Nice article, Hugo! The Chinese have been setting up their pieces for years to checkmate the U.S. domination in world economics. First they accumulated massive amounts of gold bullion, then opened the Shanghai Bullion Exchange, and now are offering oil for Yuan while ridding themselves of devaluing USDs and T paper. No doubt, though, the Big Bank Boyz have been keeping an eye on this. The question is now, whether they will move to counter China or move to profit from China's moves. In either case, got gold?

Commented 2399 days ago

Send

Beginning of the headline : The Chinese have announced that they have perfected a scheme, to be launched formally in the market by the end of the year, by means of which exporters of oil to China will accept the Chinese currency, the Yuan, in payment for the oil; for this deal, the Chinese have added an incentive: the Yuan received by the oil exporters will be exchangeable for gold. This gold will be "sourced" i.e. "purchased" outside of China, for the oil exporters. Thus, the oil exporters' Yuan wi... Read More

Reply to this comment

You must be logged in to comment an article

8000 characters max.

	RSS feed		24hGold Mobile
	Gold Data Center		Gold & Silver Converter
	Gold coins on eBay		Silver coins on eBay
	Technical Analysis		Fundamental Analysis