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The Recusant
Member since May 2012
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The Gold Worm on the Yuan Hook

- Hugo Salinas Price - Plata.com

Almost twenty years ago two Chinese Peoples Army officers wrote that the US could not be stopped militarily but perhaps economically. Since that time China has grown in power and influence globally and is rapidly approaching the point where they can overtake the USD. They've done a great job at long term planning, something we sorely miss in our "good-'till-the-next-election" politics.

Commented 2403 days ago

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Beginning of the headline : Once again, I turn over in my mind the Chinese plan regarding their imported oil, which consists in convincing their oil suppliers to accept yuan in payment (and thus re-directing their sales outside the orbit of the US dollar) with an additional sweetener in case the oil exporters do not wish to hold assets denominated in yuan: the sweetener consists in offering to exchange the yuan received by the oil exporters, for gold purchased on the world markets – and not out of C... Read More

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