China Is Worried The World Is At Risk Of Seeing An Economic Apocalypse

Tuesday, October 3, 2017
By Paul Martin
October 02, 2017

As we kickoff trading in what promises to be a wild October, China is worried the world is at risk of seeing an economic Apocalypse and they fully intend to stop it from happening.

Stephen Leeb: “Several weeks ago in my KWN interview, I noted that the well respected publication Asian Review had just reported that China was getting ready to launch an Eastern oil benchmark denominated in yuan and backed by gold. This was confirmation of something I had predicted in a KWN interview more than a year ago, seeing such a benchmark as inevitable given China’s long-range determination to ensure control over its own fate…

A True Game-Changer
Establishment of the benchmark will be a true game-changer. It will kickoff a process that will reshape the monetary system in ways that will diminish the dollar’s importance, and elevate the role of both the yuan and gold – helping propel gold to new heights along the way.

I realize, however, that many in the West still assume that the dollar is still too mighty, and the U.S. still too important, for China to significantly attack the dollar, Eastern oil benchmark or not. Unfortunately, anyone holding on to that belief is either ill-informed or in denial. Yes, it’s always hard to imagine or accept that a long-established status quo can be upended. But those who bury their heads in the sand will end up financially harmed. Those who recognize the new reality that lies ahead – and respond to it by buying gold – will end up with fortunes.

We see clear potential pathways China can follow to move from establishing its oil benchmark to implementing a new monetary system centered on gold and the yuan. As the launch of the benchmark draws nearer, it’s worth looking at what those pathways are. Delineating them may help convince doubters that China has the capability to achieve its ultimate goal of a monetary system underpinned by the yuan and gold.

The Rest…HERE

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