Dateline June 27, 2015: China may be about to make some big waves in the currency world. They are considering backing their currency, the Yuan, with gold. This according to a recent article by Daniela Cambone in The Street.
Is this The Beginning of the End for Fiat Currency?
Gold has been the world’s longest running currency. That has been true until rather recently. During the last century, the major countries of the world went off the gold standard and began issuing fiat currency, that is money not backed by precious metals but instead by the promises of governments. Given China’s economic power in the world, this would certainly be a game changer. All governments would be forced to reconsider their own currencies. Gold would most certainly rise in price.
You May Wish to Take Note
If true, this is a harbinger for a major rise in the value of gold. The value of the dollar, a fiat currency and the world’s current reserve currency, would no doubt be affected, probably quite adversely.
Do you have any gold in your asset base? This is a very good time to consider positioning yourself to be on the right side of this potentially seismic shift for gold. Be sure to visit Golden Eagle Coins and purchase your gold today.
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