World’s Currency Standard


This is a mighty interesting article concerning what the Chinese government has been buying (copper), especially for all of you who have been buying gold and/or silver.

This article from the Telegraph Media Group Limited 2009 is titled,  “A ‘Copper Standard’ for the World’s Currency System?”

Excerpt:

“Hard money enthusiasts have long watched for signs that China is switching its foreign reserves from US Treasury bonds into gold bullion. They may have been eyeing the wrong metal.”

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5160120/A-Copper-Standard-for-the-worlds-currency-system.html

Another excerpt:

Zhou Xiaochuan, the central bank governor, piqued the interest of metal buffs last month by calling for a world currency modelled on the “Bancor”, floated by John Maynard Keynes at Bretton Woods in 1944.

The Bancor was to be anchored on 30 commodities – a broader base than the Gold Standard, which had caused so much grief in the 1930s. Mr Zhou said such a currency would prevent the sort of “credit-based” excess that has brought the global finance to its knees.

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2 Responses to World’s Currency Standard

  1. Anonymous says:

    I saw this article Polly when it first came out…verrry interesting.

    • pollyann says:

      I thought the article and linked articles were very interesting as well. So many possibilities are being suggested concerning new currency.

      Have you been buying gold, silver, platinum, titanium or any other metals?

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