The meaning of China’s gold announcement and the new dollar

Stefano Fait, forecasting foresight anticipation

“official gold reserves”: what you see is not all there is to it…

As far as the new dollar is concerned:

A revaluation of the dollar via introduction of a new dollar will have the effect of making debt easier to pay. There might also be a restructuring of terms of existing debt that would accompany this change. Introducing a new version of the currency would provide the political cover to change the terms of existing debt without it having the appearance of a default (you and I would know the truth as would most of the creditors but from the standpoint of the common man on the street most would be oblivious).

The reason why the government would bid for gold is mainly for the major creditors. You would have to put yourself in the position of a major central bank or a old-moneyed family to understand why this…

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1 commento

  1. 31 luglio 2015 a 13:59

    e dopo la frutta il caffè… anzi, un buon tè cinese 😉

    "Mi piace"


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