The Phaserl


Gold-Backed Chinese Yuan to Replace USD as Reserve Currency

from RT, via Peter Schiff:

Peter Schiff on RT Boom Bust 11/17/2015

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4 comments to Gold-Backed Chinese Yuan to Replace USD as Reserve Currency

  • smiteproductions

    Peter has been saying this for a while now. Lots of people have. It simply hasn’t happened. I think we could all do without the ceaseless talking without real world action backing it up. When it happens, it’ll be news. Until then, it’s speculation and nothing besides.

  • Rodster

    Gold backed Yuan? Guys like Schiff leave out that China is a train wreck just waiting to happen. He also excuses the fact that they have dumped $30-35 trillion in Monopoly money to keep their eCONomy from going tits up. They have built bridges and roads to nowhere, built ghost malls, cities, factories and have a shadow banking system that dwarfs the US.

    I guess there are enough US haters that will make excuses and overlook at the fraud China has pulled over the world. And we are now starting to see many question China’s bullshitt GDP numbers. And Shiff should know better that a gold backed currency won’t work with a debt driven banking system.

  • Millicent

    All the so-called “experts” with “insider” connection have been predicting the collapse of the Dollar & Euro for years now and people still follow their writings like it is the gospel. What will be, will be… Kate sera.

  • Silver Shield

    Things that cannot go on forever… Won’t.

    Peter has been stating logic for individual investors to avoid the climactic events that destroy families.

    I accredit Peter Schiff for helping me to see the housing bubble in 2005 and get out.

    While he recommended gold I found silver was a far better investment.

    It takes years for people to finally “get it” and take action so instead of mocking Peter you should be taking action.

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