Russia and china gold backed currency

Russia and china gold backed currency

  russia and china have outlined plans to create a 100 percent gold-backed currency system to replace the us dollar as the worlds dominant currency. The central bank of russia has been steadily amassing vast gold reserves since 2015 accumulating 1,828. 56 tons by the end of 2017 making it the fifth largest gold reserve in the world.

Bewering russia and china roll out 100 gold-backed currency.

  beijing-china (sept 21) today a legend who was just asked by the chinese government to give a speech to government officials in china told king world news that the russians listened intently as the leader of a state owned chinese company pushed for a gold backed yuan.

  russia and china have outlined plans to create a 100 percent gold-backed currency system to replace the us dollar as the worlds dominant currency.

  according to russian government officials attending a recent monetary conference in moscow, russia, china and their brics allies are moving toward their own gold trading system (bypassing london and new york). From there its a small step toward a new gold-backed digital currency using distributed ledger technology and military-grade encryption.

Russia & china could set international gold price based on physical gold trading. Physically backed precious metals market spells the end of paper gold trade. The level of trust between brics countries can help them establish intragroup gold trading, which would be 100 percent physically backed.

  gold-backed cryptocurrency is backed (unsurprisingly) by gold a tangible asset meant to increase the credibility and security of the digital currency.

Latest news about Russia and china gold backed currency

Russia and china gold backed currency

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