There are two important reasons why any of this matters. First, the scale of China’s gold initiative is unprecedented in world history. This alone should make us take notice. Second, China is signaling that the currency wars of the past decade are changing. Soon, the battle will be influenced by gold. Here in the West, we cling to the notion that our experiment with floating exchange rates and unreserved currencies will somehow save the day. We forget that it was only 41 years ago, when the US suspended dollar-gold convertibility, that our current system was born. China suffers from no such delusion. It is voting with its wallet that the experiment has failed. It is preparing for the demise of the US dollar.Read the rest here.
I'm not apathetic, I just don't care about that
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It is obvious to me that most political topics don't interest me. Even when
I think I probably *should* care in some way, I often don't. At least on
mos...
3 hours ago
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