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Thread: Max Keiser: China secretly hoarding gold and will unleash crypto backed by metal and destroy USD

  1. #1

    Default Max Keiser: China secretly hoarding gold and will unleash crypto backed by metal and destroy USD

    China’s big move for the 21st century is to pull a “trap door” on the U.S. by launching a gold-backed crypto currency that will devalue the U.S. dollar to “zero,” this according to Max Keiser, host of the Keiser Report.
    “[China] is rolling out a cryptocurrency, a lot of the details have not been divulged. I can tell you that the cryptocurrency that China’s rolling out will be backed by gold. It’s a two-pronged announcement. Number one, China’s got 20,000 tonnes of gold, number two, we’re rolling out a crypto coin backed by gold, and the dollar is toast,” Keiser told Kitco News.
    Keiser added that bitcoin is a superior form of currency to gold.
    “Both fiat money and gold are inferior to bitcoin for one very simple reason, that with a bitcoin transaction, it is also simultaneously the settlement. You don’t have that with fiat, you don’t have that with gold,” he said.




  2. #2

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    i do not believe it will be a gold back crypto.
    A chinese crypto yes possibly, but not gold backed.
    To have a gold backed crypto meaningful, that mean one can exchange crypto for physical gold.
    Since china ban gold export, what value having a gold backed crypto when you can't exchange for physical or store it else where?
    the Chinese crypto, I believe, will linked to the social credit system.

    china attempt to thwart USD with the petro yuan was an utter failure.
    max keiser's 'buy silver, crash JP morgan' was also an utter failure.
    Last edited by yellowsnow; 11-04-2019 at 05:19 PM.

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