Petro Yuan And The Global Economic Reset
Osiris Rodriguez | Apr 09, 2018 02:47AM ET
The opening on the stock exchange of the petro yuan on March 26 was a success for the Chinese, beginning a strong competitor for the petro dollar.
The petro yuan, whose currency is backed by futures contracts of black gold and yellow gold from the Shanghai gold exchange, makes it a more stable currency than the dollar. This also favors China for the stability it needs to carry out the project of "the new silk road".
Everything points to a global economic reset, going back to the years before breaking the bretton woods treaty in 1971. Where the currencies were backed in gold, this way economic stability was protected.
We are seeing great changes in the main governments of the G20, where we see that a project was submitted to the congress of the United States to define the dollar as a fixed weight of gold, as you can see in the image below.
The changes are taking place, it is observed how massive gold purchases are being made by countrys of the G20 in order to protect themselves from a global economic crisis.
It should be noted that it is important to protect your investment and begin to follow the big ones, start investing in gold and silver, since in times of crisis, it is the refuge asset that has proven to be the most efficient in the entire world economic history.
There are other innovative ways to acquire gold these days, especially with the use of blockchain technology and cryptocurrencies supported in gold or silver such as xaurum (XAUR).
If you are going to acquire other cryptocurrencies such as Bitcoin or Ether, they will be very volatile in these weeks, so it is good to make periodic changes of your bitcoins towards the xaur or another similar altcoin, in this way you take care of the volatility.
It is important to continue observing the price of gold these days and if it rises steeply you should pay even more attention.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.