China about to implement gold-backed petro-yuan. Will Crush dollar.

[Toddsterpatriot]

[
China imports about more than half the oil they use, are they going to pay for all of it in gold?

.

They didn't say that. They will pay in yuan which can be converted into gold. That's the plan anyway. THINK

Nobody believes they'll do this. The country is awash in liquidity.
Everyone would convert and try to move the gold offshore.

Never gonna happen.

 

[ShootSpeeders]

They didn't say that. They will pay in yuan which can be converted into gold. That's the plan anyway. THINK

Nobody believes they'll do this. The country is awash in liquidity.
Everyone would convert and try to move the gold offshore.
Never gonna happen.

Depends on what china sets as the price of gold. Gold is easy to buy right now. All large cities in america have gold bullion and coin sellers.

 

[Toddsterpatriot]

They didn't say that. They will pay in yuan which can be converted into gold. That's the plan anyway. THINK

Nobody believes they'll do this. The country is awash in liquidity.
Everyone would convert and try to move the gold offshore.
Never gonna happen.

Depends on what china sets as the price of gold. Gold is easy to buy right now. All large cities in america have gold bullion and coin sellers.

Depends on what china sets as the price of gold.

Set the price? It's not a gold standard, it's a gold futures oil contract.
Just saying it out loud makes you realize how stupid the claim is.
Well, it doesn't make you realize that, just people who understand markets.

All large cities in america have gold bullion and coin sellers.

What does that have to do with Chinese citizens trying to trade out of their shaky currency to get assets out of China?