40fy:




**I don't give a fúck about no mothafuckin' gold-backed currency!!
**Naira is free-fallin' like it is under the sole influence of the fúckin' gravity!!

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**Nevertheless, fück the government!!!

akwesenana:

With money on your mind

@siggy.

$$ Hahaha! Yeah, my guy!!

altcoinng:
Fox Business experts believe that Russia and China will create a new currency backed by gold since China has been buying huge amounts of gold and Russia was forced to abandon the U.S. dollar due to sanctions.

Craig Singleton, a senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat, explained that for two decades, Chinese leaders have talked about reforming the global financial system and weakening the dominance of the U.S. dollar.

Two components of that strategy center around a global commodity trading system based on the yuan and China’s efforts in partnership with Russia and other like-minded countries to challenge the dollar’s dominance by creating a new reserve currency.

In essence, Beijing and Moscow are seeking to build their own sphere of influence and monetary unit within that sphere, effectively protecting themselves from the threat of U.S. sanctions.

Swiss gold exports to China in July rose to their highest level since December 2016: during the month, Switzerland sent 80.1 tons of gold worth 4.4 billion Swiss francs ($4.4 billion) to mainland China, according to customs data.

Data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global financial messaging firm, showed that 42.6% of global payments in August were in U.S. dollars, 34% in euros and 2.3% in Chinese yuan.

Ming-Hua Chiang, an economist at the Heritage Foundation’s Center for Asian Studies, emphasized that the yuan “lags behind the US dollar and the euro,” because the euro, for example, requires “a level of political and economic coordination and integration that does not exist in Asia today.

During the BRICS summit in July, Russian President Vladimir Putin announced that the BRICS countries (Russia, China, India, Brazil and South Africa) were planning to issue a “new global reserve currency. Analysts believe the move is an attempt to undermine the dominance of the U.S. dollar and the International Monetary Fund’s special drawing rights.

https://altcoin.ng/china-and-russia-to-create-a-new-gold-backed-currency/

opamoses1:
I understand where they are coming from. They are struggling to defeat the dollars. Goodluck to them.