My recent article, 'Prospects for Gold II', published on my website, www.plata.com.mx on September 25, 2017, dealt with the possible consequences of a Chinese plan to offer oil exporters to China payment in Chinese yuan, with an added incentive to accept the yuan in payment of oil, in the form of the purchase on world markets of gold in exchange for the yuan, in case the oil exporters should be reluctant to hold yuan balances in their favor.
My article was criticized as a fantasy, because the critic could find no trace of any substantiation of the Chinese plan on the Internet.
I confess my error in not providing references outlining the Chinese plan. I hereby correct my error, thanks to the kind assistance of Alasdair Macleod, who publishes excellent articles on the site of www.goldmoney.com:
References to the Chinese plan, with notes by Alasdair Macleod:
1. Damon Evans, an oil analyst and journalist familiar with Asian oil markets. His article can be found here:
https://asia.nikkei.com/Markets/Commodities/C...-backed-by-gold
Note that it is two pages.
2. An earlier article can be found here:
http://www.scmp.com/business/commodities/a...ude-oil-futures
3. And here is a news release from the Shanghai Futures exchange back in May. You cannot get more authoritative than the exchange itself:
http://www.shfe.com.cn/en/Announcementa.../911327709.html
These are all impeccable sources. Nikkei Inc, the owner of the Asian Review, also owns the Financial Times.
