MAY 4, 2017
ORIGINAL SOURCE: China's Plan to Subvert the Global Dollar Standard by Alasdair Macleod of mises.org on 4/30/2017
China the largest global gold producer has been hoarding gold for a very long time, at some point will back its currency with it. It is also very close to dominating the markets with the largest physical gold exchange in the world. It’s a step toward to “China controlling the gold price.”
But China does not at this point in time want to shake up the markets by revaluing it just yet. It will do so in its own time of choosing.
This is a must read! China's Plan to Subvert the Global Dollar Standard