The Guardian reports that China is trial testing its new digital currency the eRMB in four major cities next week. The objective of the new digital currency is clearly to prepare for a currency crisis:
“A sovereign digital currency provides a functional alternative to the dollar settlement system and blunts the impact of any sanctions or threats of exclusion both at a country and company level,” last week’s China Daily report said.
“It may also facilitate integration into globally traded currency markets with a reduced risk of politically inspired disruption.”
Resource investor Marin Katusa believes these are the early stages of a US dollar currency crisis and a coming War on Gold. Countries without access to US dollars will want as much gold as possible to shore up their foreign exchange reserves. They can sell the gold for US dollars to generate their own access.
What could the coming War on Gold look like? A world where there are two prices for gold, one in US dollars and one in local currency. A world where nations without access to US dollars will take back gold mines in their country by force. A bi-polar world where you are either pro-US or anti-US.
Get ready for the coming war. Load up on gold.
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