...the rest of the world is not that far behind. They are going to be watching the PBOC's grand experiment very carefully to see how the population goes along with it, or what kind of resistance is offered.
The internationalization of the yuan and the expansion of the Chinese economy overseas, which has been a linchpin of the Chinese government strategy for working its way out from under its own debt bubble is now in trouble.
...no one of these stories is a silver bullet, but they're all related and point in the same direction: China and Russia are preparing for the split with US-dominated financial architecture.
Given gold's role as a safe haven in times of economic and geopolitical stability, and given its inverse relation to the dollar, things are looking up for the yellow metal.
The only thing left to say is that the false choice between the Chinese-led world order and the American-led world order are not the only options on the table.
They want a global currency. They’re going to try and do it with SDR’s. They’ve already started the process, and I’m not certain about how it develops, but this acchain outfit is definitely one of their testing grounds.
this is a rigged game with loaded dice. The international “superclass” that pays no allegiance to any particular country is preparing to abandon the American empire as the engine of global dominance for a multilateral BRICS-fronted IMF-administered globalist slave state.
The biggest news to emerge during the summit was not directly part of the summit at all, but in some way is a reflection of the topsy-turvy period of global geo-economic reorientation we are living through.
... already it seems clear that President Xi is indeed tightening his grip on control of the Party (and thus the country), and that Xi is continuing with his vision of making China into a world superpower in the coming decades.