/biz/ - Business & Finance

>>57204823
Because it just will okay.

>>57204832
Because it doesn't work and their economies, China especially, are only made possible through debasing their currency via money printing. Hard currency would end cheap money which would bring manufacturing to a screeching hault. Their economies would tank and fall into serious depression. People would starve and riot, and when your country is a one party state that equates to the end of the country. Why on Earth would China of all countries would want a gold backed currency? The PRC has literally only ever known fiat currency and it's how they've built their nation into what it is today. If you think they would shit the bed to have "sound money" then I'd like to sell my shit and call it fudge. It just shows how fucking stupid BRICS+ believers really are.