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A New Reserve Currency, Part 1
WHO, WHEN, WHERE, what, and why? As aspiring journalists have long been taught, these questions should be answered in every story they write. In predicting a new monetary reserve system that will propel gold to new heights, I should answer them as well.
The “who” is China. The “when” is sometime in the not too distant future. The “where” is at the very least in the East and possibly beyond. The “why” is China’s determination to get out from under the tyranny of the dollar and put in place a system that will avoid any replay of the catastrophe that unfolded in 2008.
This leaves the “what.” If China were simply looking to replace the dollar with the yuan, it would be simple to describe. But this is not what China ...
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