Monday, October 5, 2015

China is Dumping US Debt

Many signs are showing that China will introduce a quasi-gold backed Yuan in the future, and central banks around the world will be selling US Treasuries for more gold. Switzerland started the trend earlier this year by de-linking their currency with the EUR and the EUR dropped quickly, and when China de-links the Yuan from the USD, the USD will drop and lose it's "reserve currency" status and gold will re-emerge as the currency of last resort.    BK