Loading ...If you are a seller wouldent you sell to a buyer paying in a GOLD backed currency vs a Paper backed currency .
IF you are a BUYER wouldent you want to pay in a Paper backed currency ?
That begs the question who is going to get the GOLD ..the buyer paying with Paper or buyer Paying with Gold backed Paper ?
its an old axion that you spend a worthless currency ,but you store a value currency. BUT BUT that means BAD Paper drives GOOD out of circulation !
The DOLLAR wins ! the trade war.The yuan wins the store of value but loses trade ! China gets the GOLD ,but at the expense of jobs ..The RICH get Richer in China ,but the Poor lose jobs ! ITS deja VU all over again ! Where have I seen this before ? Ive seen this movie before ..this is where I came in!
China just shot themselves in the FOOT !