China New Cryptocurrency Backed By Gold

Kitco News - Chinas big move for the 21st century is to pull a trap door on the US. This coupled with an incorruptible cryptocurrency controlled by Chinas Central Bank and possibly backed by gold would be a formidable reserve currency that most countries would like as their chief reserve asset.

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But now he sees a new force emerging - a payment system created by the Chinese state and known as Digital Currency Electronic Payment DCEP.

China new cryptocurrency backed by gold

. Bitcoin goes well so Russia doesnt consider issuing gold backed stablecoin since gold is USD based asset and its valuation and opportunities to sell this asset might be very limited in case of new US sanctions. Chinas big move for the 21st century is to pull a trap door on the US. The gold rush is picking up steam.

Dollar to zero this according to Max Keiser host of the Keiser Report. It would clearly endanger and probably crush the global US-dollar hegemony. Its value would be backed by the state.

As we kickoff the new year the biggest surprise will be that China is going to replace the dollar with a gold-backed currency in 2018. I can tell you that the cryptocurrency that Chinas rolling out will be backed by gold. However Xi has backed the underlying technology known as blockchain.

If China does launch a gold-backed cryptocurrency it could be the end of the world as we know it for the current global reserve currency which is getting devalued by the day. One cryptocurrency expert Max Keiser revealed on his podcast that China intends to use cryptocurrency to devalue the US dollar. The bitcoin bull also shared some interesting things about the gold hoards of china so we are reading further in the altcoin news today.

As things stand there is no fiat currency on earth fully backed by gold. Gold is highly risky unstable asset for Russia. Like many other pundits Keiser says that China has a lot more gold than it lets on amounting to 20000 tons.

By launching a gold-backed crypto currency that will devalue the US. In 2017 Beijing banned fundraising via cryptocurrencies known as initial coin offerings or ICOs and local exchanges. The things he says about bitcoin are completely misinformed.

Two hours after China announced their adopted cryptocurrency price have grown from 0276 THB to 0487 THB. Historians are sure to have a field day with an endless stream of head-spinning headlines to pick from to launch their investigations. Brad Sherman has obviously had a lobotomy.

By launching a gold-backed crypto currency that will devalue the US. The project would involve creating and launching a crypto token that is backed by gold. When China announces as a surprise its 20000 tons of gold and a gold-backed cryptocurrency that will kill the US dollar deader than a doornail it will be a Pearl Harbor-type event and its coming in the next six to nine months he predicts.

Chinas new CBDC will be backed by gold according to Max Keiser who has been long absent from the crypto space. Gold-Backed Cryptocurrencies You Can Invest In Already there are several companies offering gold-based cryptocurrencies to buyers. If a gold-backed cryptocurrency is eventually released by China or Russia cryptocurrencies.

China is known for recently purchasing large amounts of gold to back its fiat currency Yuan. YuanPay Group Representatives have recently announced theyve opened a dedicated YuanPay Group International department in 195 countries. The year 2017 was full of sound and fury.

According to YuanPay Group representatives Chinas coin is available in Thailand. This of course is what Washington is afraid of. Vladislav Ginko martik April 9 2019.

The Chinese government is setting the pace in the development of the first national di. It is yet unclear whether the currency will be backed by any physical assets. For more stories on economy finance visit RTs business section.

The overall point of the exercise would be to completely devalue the US dollar to zero. China Using Cryptocurrency to Create a Trap Door. His theory was that the PBoC would declare that it.

January 7 King World News Dr. Its really a digital version of Chinas official. But virtual cash would be quicker and easier to use than the paper kindand would also offer Chinas authorities a degree of control never possible with.

A cryptocurrency fully backed by gold would turn the masses away from the dollar as would a fiat currency backed by gold would too. Since 2014 China has been planning and developing a digital currency. China is rolling out a cryptocurrency a lot of the details have not been divulged.

Max Keiser in an RT show suggested that the new Chinese digital currency could be backed by gold. Since China is the worlds top buyer of gold and has been storing up gold in its bank reserves it wouldnt be surprising if this new cryptocurrency is also backed by gold. Keiser appeared again on social media and wasted no time in railing the currency market situation.

China will take over the global economy with its gold-backed cryptocurrency.

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