ORINDA, CA (SILVER-COIN-INVESTOR.COM) -
The Chinese currency the Yuan is still pegged to the U.S. Dollar at a level that undervalues it substantially, provoking criticism of this exchange rate policy. The world still believes that China cannot survive and prosper without the West to fund its development, and so most analysts are focused on a hard landing for China.
Nevertheless, what is really happening is that new currency swaps are forming the backdrop of Chinese metals accumulation and production. In essence, China is gradually amassing the lion’s share of global wealth in the form of hard assets….
Recent headlines from around the world have focused on how China is spearheading a shift away from the U.S. Dollar as a reserve currency…..
Another important Chinese policy change has been to legalize precious metals ownership recently. Even silver ownership has been overtly encouraged by Chinese authorities.
In effect, by encouraging domestic hard asset ownership, this creates a third tier or leg of support for the accumulation of precious metals.
This means that China is becoming a global force in the import, production – and now the domestic ownership – of precious metals….
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