/biz/ - Business & Finance

>>16383820
Source?

>>16383826
https://www.thestreet.com/video/crypto-currency-china-secret-weapon-usd-gold-backed-crypto-currency-max-keiser-15154154

>>16383835
100% speculation, let me know when they have official confirmation. This is a big nothing burger until then.

>>16383820
Possibly very bullish for gold and bearish for USD. USA will be very afraid.

If true it the end for America. Game over. Learn Mandarin now.

>>16383855
i live in usa so by the time i would know what was going on my head may be on a pike or i will be too busy kidnapping vigins to pimp out to marauders for cans of beans

>>16383820
Notting. History teaches currency pegs always fail. The US dollar once was backed by gold but it isn't today.
Not to mention the Chinese financial system has a massive debt issue which would become totally more uncontrollable under a gold system. Everyone would want their debt payments transformed into physical gold. Good luck with that.

>>16383835
https://www.thestreet.com/video/crypto-currency-china-secret-weapon-usd-gold-backed-crypto-currency-max-keiser-15154154
>China's big move for the 21st century is to pull a "trap door" on the U.S. by launching a gold-backed crypto currency that will devalue the U.S. dollar to "zero," this according to Max Keiser, host of the Keiser Report.
So make US exports really cheap and imports really expense? I don't think that's what China really wants.

>>16383855
you can't confirm anything that goes on in china of importance. economic data is highly protected. no accurate information comes out of china nor can it be obtained. for all we know they have already implemented it and the USD is already worthless.

https://archive.is/TkS5G

>>16383820
They keep trying to devaluate their currency-they aren’t doing this.

>>16384207
This. Muh gold backed currency is a /pol/ meme. There is a reason we don't actually use that shit.

>>16384216
Sure the Chinese state fudges all kinds of numbers. If you want you can hope on a plane with some USD and see if anyone will give you anything for it if you want to test your theory. The government can't dictate the real exchange rate. If you can't find anyone who'll exchange anything for $1000 I guess you're onto something.

>>16383820
China can't switch to gold backed currency, they can only diversify, if they would replace it all they d shoot themselves in their own feet seeing China owns trillions worth of USD as reserves. China and US are mutually interdependent from a monetary point of view.

>>16384255
>China can't switch to gold backed currency
Sure they could but going about it would be very messy.

>>16384278
nobody would want to do that. it provides absolutely no benefits but makes your economy vulnerable.

>>16383820
If it's true, means were going to war.

>>16383820
If they do, it'll be fucking world war 3 and it'll be the end of America as the dollar hyperinflates.

>>16384332
This. Having the reserve currency is a burden. Also, current Chinese currency is non-convertible meaning no one is going to voluntarily adopt it; maybe the pissant African countries that China has shackles with debt, but no country of consequence.

>>16383820
It's bewildering listening to people on a Himalayan yeti tracking forum say that gold is dead when headlines for the last decade have clearly shown governments stockpiling and repatriating gold.

>>16384379
War with China has to be done economically. China is surrounded by mountains. You can't just invade it. They also have a superior ground force. Short of nuking it there isn't much else you could do. And nuking it means a retalitory nuke in return. so that's out of the question.

>>16385248
Not if we nuke them and all of their friends to hell all at once.

>>16384245
...why would you have your back to a window...

>>16385020
> governments stock piling gold.
Doesn't mean shit if all they want to do is hoard it and jack off other governments with it

>>16385315
> not having a huge cinderblock wall around your house.

>>16385337
Then why not board/fill in window space and have a wall for camera footage behind your guns? I live in Texas and this is less joke and more bad setup.

>>16383820

I hope it’s true I’m still mad about pic related.

>>16383820
Imagine believing anything coming out of China

These fucking clowns are desperate, also 0% chance they switch they are the biggest ponzi scheme ever

There is too many government and private reserves. The communist party is too prideful to let too many foreigners slap them around

>>16385448
I'm upset about it too, but Gaddafi was a little too arrogant about the whole thing, he would stilm be alive right now if he had been a little more low profile.

>>16384245
And what is that reason?

>>16385562
Because westerners are degenerates who cannot resist unlimited credit.

>>16385448
it made sense for gaddafi because of instability in the Maghreb and Middle East, had he survived then Libya would have weathered the Arab Spring economically instead of suffering crashes like Lebanon and Iran have. This was a specific use case for gold, not a demonstration of its superiority over usd. Hoarding usd would have worked just as well, but obviously was impossible due to the political situation in Libya
>>16385569
brainlet

>>16385632
Who the fuck are you anyways? Go back to making my lunch wagie!

>>16383820
how you gonna buy oil with that shit retard

>>16385723
They won't need to because they fucking own most of africa by now. They will just trade rice for oil.

>>16385723
Russia and China are expanding like crazy in Africa and furthermore petroyuan is more then real.
The petrodollar had its days

>>16385248
>chinese made nukes
Oh I’m a shakin’

>doomtards are just straight up lying now
fuck off

>>16386107
It's retarded /pol/cels that have a hard on for china because "muh based ethnostate and dictatorship". I have seen them spamming articles like this for years now.

>>16385315
YOU know the (((reason))) anon

Protocol XXII - Jews will control Gold

>>16386571
Not if GOY BOY has anything to say about it!

>>16383820
china wouldn't give anyone their gold for any reason so no, this is just another lie from CCP. china literally lies about being communist for Pete's sake.

>>16386092
https://www.epochtimes.jp/jp/2009/12/print/prt_d57633.html
>Shanghai bridge
god damn, china sucks so much. they cut corners everywhere. Shanghai is even a tier 1 city.
https://en.wikipedia.org/wiki/Chinese_city_tier_system

>>16387476
Chabuduo, look it up.
>lead in kids toys, chabuduo
>melamine in infant formula, chabuduo
>nukes that fizzle, you get the idea

>>16384245
Yeah I'm sure the currency peg that helped lead the economy into a golden age was responsible, surely not the fact that the government couldn't stand not printing large amounts of fiat, no dir

>>16388009
at least the guys that did the infant formula scam were executed