Dominic Frisby https://goldbroker.com/news/authors/dominic-frisby In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’s reserve currency – has a lot more gold than anyone else. But how much? It has been clear for some time that China has designs on the US dollar’s global reserve currency status. For China, this is simply a return to its rightful position on top of the world. To us Western usurpers, the implications of this are just enormous. Nine in ten central banks are working on digital currencies, according to research by Fintech and IT Benchmarks 2021, but none (except perhaps the Bahamas), are as advanced as China, which has been working on its since at least 2014. Word is, it wants it to be fully functional in time for the Beijing Olympics in 2022. Forget Rishi Sunak’s Britcoin, China is way ahead. The Wall Street Journal, meanwhile, reports that Chinese broadcaster CGTN has been circulating an animation in English of a man in an... Mon, 26 Apr 2021 10:39:25 +0000 https://goldbroker.com/news/china-owns-lot-more-gold-than-its-letting-on-2281