China is saving up 30,000 Tons of Gold to topple the U.S Dollar from its Global Currency Reign. China is patiently waiting for the right moment to remove the U.S Dollar from economic reign, and once the U.S Dollar loses its leadership, China then plans to elevate the Yuan into the world’s first currency, According to Duowei News.
To ensure its Financial Domination over the U.S, China is saving up Gold as fast as it can get its hands on this very Precious Metal. Unconfirmed reports indicate that China already has about 30,000 tons of this Precious Metal, and if this is true, it means that China will be capable of bringing the U.S Dollar down in the instant they officially declare those holdings.
China becomes World’s Largest Producer of Gold
Economic analyst Jing Zhou believes that in order for China to challenge such a powerful economy as that of the United States, one will need a very large amount of Gold in holding.
In addition, the Chinese authorities expect that the Chinese national currency will be added on the list of IMF reserve currencies that already includes the Dollar, the Euro, the Pound sterling and the Japanese Yen.
Thus, Beijing is getting ready to topple the U.S Dollar by increasing its Gold Reserves exponentially. What is also very noteworthy, is that Russia also sticks to a similar tactic as China: Because since 2005, Russia has also doubled their own countries Gold reserves. As of late 2014, Russia was ranked fifth in the world in terms of Gold Reserves, and this ranking too may change in due course.
“If China does have 30,000 tons of Gold, then the Yuan will have a very strong shield to protect itself. Even if it is not true, it is clear that China collects Gold very actively. In addition, China’s position in global financial markets has increased considerably,” Duowei News said. Analysts from the Organization for Economic Cooperation and Development believe that the Chinese economy will rank first in the world by 2016б while its national currency will obtain the status of the main global reserve currency.
However, information about 30,000 tons of Chinese Gold has not received confirmation from official sources. Sudden and quick changes in world economy are very unlikely. Vice-president of the Golden Mint House, Alexey Vyazovsky, said in an interview with Pravda.Ru that China increases Gold reserves without far-reaching plans just because Gold is “eternally valuable.” However, the expert did not exclude the appearance of the so-called Golden Yuan.
Author: Unknown, source: Pravda.Ru