China sees new world order with oil benchmark backed by gold

Goys, is WW3 inevitable after all?

russia-insider.com/en/politics/game-changer-china-buy-oil-gold-backed-yuan/ri20807
asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-with-oil-benchmark-backed-by-gold?page=1

>China wants to return to gold standard that was last abolished 17 years ago in switzerland

HAHAHAHAHAHAHAHA

AHAHAHAHAHAHHAHAHAHAHAHHAHAHHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHHA

GOOD. SOUTH AFRICA PREPARE YOUR ANUS THE CHINKS ARE COMING

>Muh petrodollar

>jew

a gold back standard is the greatest promoted of meritocracy and wealth equality. under the current system of fiat currency and fractional reserve banking, the wealthy are able to create money from nothing.

good for china

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I agree 100% with a gold-backed currency system, to the point of physical gold currency. I think it would made (((taxation))) more difficult but I don't care because I don't support that kind of robin-hood nonsense.

Wellll time to buy some yuan

>That's a nice dollar peg we got here in Beijing
>Oh, and that's quite a bunch of T-Bonds we own
>Be a shame if someone dropped the peg and sold the bonds, wouldn't it?

>When you have to start another war because jews told you so.
Inevitable.

It doesn't matter because most people and businesses wouldn't want to store cold and deal in cash. For the sake of practicality they would put everything in the bank and make online payments, direct debit arrangements etc. Once that gold is in the hands of (((bankers))) they would disappear and be spread around the system anyway so everything would be de facto fiat currency.

It's exactly the same reason why you don't see many people with piles of cash stored at home. How do you expect a business like a restaurant chain for example to collect all the cash/gold from their subsidiaries then store everything in a warehouse? What if that gets broken into or flooded or burnt, do they lose their entire revenue going back to a year?

The solution is cryptocurrency and nothing else.

they are gonna give us gold for oil. nice.

Told you fags the push for "muh gold" "muh bit coins" is Russian/Chinese agit prop.

China gets crude oil from Russia, Saudis and Angola, it means you aren't getting SHIT because they wont trade in $.

The Rothschilds control all the gold so this isn't a step in the right direction.

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The EU did the same thing, for about three years before they realized it wasn't sustainable.

Trying to back oil with gold is actually retarded.

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Suicide for China really. As soon as they get hostile we will "help initiate" the Sino-Hindu war and send em back to the stone age. At least the Indians are used to living that way. The Chinks will be fucked.

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>mfw they are too weak to defeat China

>and fractional reserve banking

Wasn't this system created by the {{{Florentines}}} because there wasn't enough gold and silver available in Europe to meet the commercial demands of the 1400s?

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Factory Orders is considered a leading indicator because historically it has a very high correlation to economic growth about twelve months in the future. It's now at a three year low.