[usconservative]

Not believable. The markets are already abandoning the Chinese Yuan believing the Chines printed far too much "easy money" in their attempt to undermine the US Economy.

The Yuan certainly won't become the currency of record. The Russian economy isn't doing that great and the Ruble is depressed.

The mere thought of a gold backed Chinese Yuan is laughable --- there isn't enough gold in the world x2 to cover the paper assets of the Chinese Tiger.

[Errant]

That would depend upon the value assigned. Both the Chinese and Russians have been accumulating large quantities of gold.

[Errant]

China's Demand For Gold Has Trapped The West's Central Banks [Just up on Zero Hedge]

"In this week's Off the Cuff podcast, Chris and Alasdair Macleod build on the insights laid out in Chris' recent mega-report last week on gold: The Screaming Fundamentals for Owning Gold. And specifically, they delve deeply into the poorly-understood topic of why Chinese demand has become such a game changer in recent years."

[nomad]

Perhaps but the idea of a devalued dollar is not a stretch if the Petro-Dollar is weakened by sufficient non-dollar denominated energy and commodities purchasing. China, Russia, India, Iran, and any ankle biters could put a major tear in that Petro-Dollar. HOW MUCH would it hemorrhage is the better guess then IF it would.