Saturday, 18 February 2012
Western transfer to China of control of global reserve currency
If western central banks are suppressing the gold price by selling gold down as is claimed by GATA and others, then the west is subsidising Chinese accumulation of gold. The west sells gold to support their currencies. The west would thus be transferring control of any new global gold or yuan linked reserve currency to China, which would seem to conflict with western strategic interests.
Posted by Nils Marchant