Survival UK Forums

Just watching on CGTN that China intends to launch a Digital Yuan backed by 20k of Gold. Totally bypassing Western central Banks and negating any control they have over their currency. This is a huge move by China and could have dire consequences for dollar hegemony.

Makes sense for them to do so. The US has a lot of control as everything is linked to the dollar. They can enforce their laws and rules on two other countries setting up a deal that has nothing to do with the US.

It'll make the markets a bit more interesting for many.