Newspaper: China is able to destroy the dollar by 30 thousand tons of gold
Newspaper: China is able to destroy the dollar by 30 thousand tons of gold
16/05/2015 08:44 GMT
Agencies – wrote the newspaper “and colored China Times” Taiwanese site, citing “Duowei News” news that China may work on the US currency by reducing the dollar reserves of gold.
The newspaper quoted a Chinese economist Jane Zykhao conviction that China is able to destroy the American currency is stable already using gold reserves are estimated at 30 thousand tons.
According to the Chinese expert, in the case of China want to challenge the United States in global trade and financial markets, Beijing will have to use huge amounts of gold.
The paper that one of the steps that Beijing will be followed for this purpose will be the inclusion of the yuan in the basket of reserve currencies in the International Monetary Fund, which currently includes the dollar, euro, pound sterling and the Japanese yen.
According to the website “Duowei News” news, China is preparing to clearly falling dollar exchange rate, by increasing the reserves of gold, as well as Russia, which has double the reserves of gold since 2005, and the International Monetary Fund, which has reserves of gold, weighing about 2.8 tons.
The site “Duowei News” If China were already owns 30 thousand tons of gold, the yuan will be supported by a strong shield, and even that is not the case, no one doubts that China is buying gold on a large scale, and that its influence and its position in the global financial markets It has increased dramatically. ”
Depending on the Organisation for Economic Co-operation and Development forecast data, the Chinese economy will overtake the US in 2016, what will make the yuan’s major reserve currency in the world.
The site “Duowei News” that in spite of all this, it is unlikely that these changes occur overnight, adding that so far is not known the size of China’s reserves of gold, although it occupies first place in the world in terms of gold production .
alrayy.com
