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Gold Backed Currency to Replace the US Dollar?
Published 4 years, 10 months ago
Description
China introduced something that was called the gold-petro-yuan back in
2018. Since then, the global share of US-dollar-dominated exchange reserves
have dropped to 59.0%. In April 2021, China became the first major economy
to unleash a Central Bank Digital Currency. China also has given its banks
permission to import large amounts of gold. Is China preparing for a
gold-backed yuan to push …