Jester Chat 4-19-16 "Who Has The Gold Makes The Rules"
[Betsy Ross] Jester I have a question for you. I came across this article (UPDATE 1-China's big four banks, StanChart, ANZ to join yuan gold benchmark http://mobile.reuters.co ··· 3N17G2W4 ) after researching another article that implied that the Yuan was to be gold backed on April 19th.
If I read this one correctly it really means is that China wants to be able to set gold price. So is this a step towards the new international order of China having dominance? In other words, another piece to the puzzle?
UPDATE 1-China's big four banks, StanChart, ANZ to join yuan gold benchmark | Reuters
Top Chinese banks, alongside Standard Chartered and ANZ, will be among 18members to join a new yuan-denominated gold benchmark that signals China's biggest step towards becoming a price-setter for the metal....