NEW EURRASIN CURRENCY THE ALTYN

[Keithoil]

How do you guys think the Russians, Chinese and the likes will affect the price of PM's and the dollar etc if they bring in their new monetary system the Altyn.

 

I would have thought this would start to push the price of PM's up.

 

I think they are trying to break the hold the USA has on the market.

 

http://www.silverdoctors.com/introducing-the-altyn-russia-accelerates-plans-to-launch-new-gold-eurasian-currency/

 

http://www.kitco.com/ind/Bevan/2014-04-28-Critical-Support-Holds.html

[Shamatti]

 

[2003dve]

BRICS - "introducing the ALTYN - the alternative currency for the Dollar"

US - "If it's Gold backed, just don't try and buy energy with it or you'll end up like Gadaffi"

http://en.wikipedia.org/wiki/Modern_gold_dinar

Just keep stackin'.

[ChrisSilver]

I have been thinking that this was Russia / China's etc secret plan for a while now. Why else would they be stacking so much Gold.

If a new gold back currency is introduced and it becomes the standard currency to trade for oil & gas etc then it will have an extreme economic effect against the US, which are powerful due to the fact that the US Dollar is used to purchase resources, and they control how many US dollars there are in the world, and in effect how rich the US is over other countries.

 

The US will crumble as they pretty much have zero Gold reserves.

Intelligent and wealthy people from the US and other countries don't watch the anti Russian propaganda on the TV and realize that Russia is one of the best countries to invest in, it will eventually be the worlds new super power, several US billionaires are buying up vast amounts of land in Siberia. I don't know why, but they certainly are doing it for some reason.

[silversword]

So presumably if they are so keen to get on board with this, the next step for China is trying to reduce its dollar reserves and get out of US treasury bonds before the dollar crumbles, or wouldn't they be concerned?

[ChrisSilver]

Well Russia have already sold a large amount of US T bills. Not sure what China's plan is. I lived there for a year and the majority of Chinese aren't too bright so it wouldn't surprise me if they are planning to hold them lol.

[silversword]

Ouch!

I dare say they've considered the situation but I wouldn't have thought offloading a heap of bonds would do much for the value, and would be difficult to do quietly. So maybe they will hold some. This may be why I am not in charge of Chinese monetary policy.