Discussions on a new China and Russia gold backed currency China and Russia have been discussing the possibility of creating a gold-backed currency separate from the US dollar. This article explores the potential implications of such a currency on the US dollar and global economy.
Why do some countries want to get off the US dollar? Explore the reasons why some countries want to reduce their dependence on the US dollar, including economic independence, hedging against currency risk, political reasons, and diversification. Learn about the challenges involved in this process and the steps some countries have taken to achieve it.
What is petrodollar? Learn about the petrodollar system and its impact on the global economy, US geopolitical influence, and oil markets. Discover the advantages and drawbacks of the petrodollar system, and the growing trend to remove or replace it.
Gold is a tier 1 asset Learn why gold is recognized as a highly valuable asset for banks and financial institutions, and how it is viewed as a safe haven asset during times of economic uncertainty.
Are China’s gold holding figures accurate? China’s gold reserves have not been updated since 2016, leading to speculation on the accuracy of their reported figures. Some experts suggest that China may hold more gold than what is officially reported. However, without concrete data, it is difficult to estimate the actual size of China’s gold reserves or to compare it with other countries like the United States.
Could the world move back towards a currency back by precious metals? This article explores the potential for the world to move back towards a currency backed by precious metals, such as gold or silver. While there has been some discussion of this idea, significant changes to the global monetary system and international cooperation among governments and central banks would be necessary for such a shift to occur.