Dear Zoltan: Isn't BW3 Really China-Style BW2 ?
China Builds a Gold-Based Alternative to the Dollar System, Using Dollar Architecture
China is moving its people and its government away from the U.S. dollar. Citizens are being encouraged to buy gold. At the same time, the state is building a new system for trade and finance that does not rely on dollars. These two tracks are designed to meet in the middle. The aim is to create a stable middle backed by domestic savings in gold and a foreign trade system run in yuan.
The Chinese government has aligned its own goals with the interests of its people. It is promoting the use of the yuan in…
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