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Chinese set to back the Yuan with gold... new world reserve currency?
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<p>[QUOTE="justafarmer, post: 1622477, member: 3926"]As long as gold is valued and traded in US Dollars any country that adopts a gold standard is basically pegging their currency to the US Dollar with a hitch. Being that the country's currency exchange ratio would be fixed in gold and monetary policy constrained by their gold reserves makes their economy and the value of their money very vunerable to market swings and flatout manipulation.[/QUOTE]</p><p><br /></p>
[QUOTE="justafarmer, post: 1622477, member: 3926"]As long as gold is valued and traded in US Dollars any country that adopts a gold standard is basically pegging their currency to the US Dollar with a hitch. Being that the country's currency exchange ratio would be fixed in gold and monetary policy constrained by their gold reserves makes their economy and the value of their money very vunerable to market swings and flatout manipulation.[/QUOTE]
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