China promised important changes in the currency markets.
Currently, the most trusted currencies in the world are the US dollar, Japanese Yen, British Pound and Euro, but the International Monetary Fund meeting is approaching, and this October the group of trusted currencies may welcome the Chinese Yuan. If this happens, the status of the US dollar as the world’s reserve currency might be endangered.
It is obvious why Jack Lew, US Treasury Secretary, wants to believe that China is not ready for such step. Despite what he believes, China is on a good track to become the largest world’s economy and one of the most powerful countries in the world.
It doesn’t matter what somebody thinks or wants, the facts are what matters. Are there any facts that can confirm that Chinese goal is realistic?
Well, there is the fact that China has successfully been accumulating gold, and at the moment, it is world’s largest gold producer, as well as importer.
Another fact is that there is nothing to support the dollar now, which provides China with an advantage and an opportunity to accumulate huge amounts of gold. Actually, they have already been doing that for the last couple of years.
But, that is not everything. China has a secret 7,000-year-old gold stashing strategy, consisted in buying gold mines, not just bars of gold. The worth of those mines is a secret.
As Bloomberg notices, the pile of Chinese golden bars has probably multiplied in the last couple of years. Nobody knows how much gold does China have, but it is sure it has stacks inside and outside of China.
There is a possibility that this country reveals the information about its treasure in October, just before the International Monetary Fund meeting, in order to demonstrate its readiness to take over the mechanism of exchange for worldwide international trade. This would be the proof that the Chinese Yuan is more reliable than the US dollar.
The Chinese people had a sharp goal, and this whole time they have been working hard in order to be prepared when the moment comes. That moment is almost there.
Their commitment, determination and organization can serve as an example to all other countries.