Yes, It's Possible For A Gold-Backed Renminbi To Dethrone The US Dollar | WHAT REALLY HAPPENED

Yes, It's Possible For A Gold-Backed Renminbi To Dethrone The US Dollar

“[W]e want to use our reserves more constructively by investing in development projects around the world rather than just reflexively buying US Treasuries. In any case, we usually lose money on Treasuries, so we need to find ways to improve our return on investment.”

– Unnamed senior Chinese official, cited in an FT article, ‘Turning away from the dollar’, 10th December 2014.

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