Gold researcher Jansen skeptical about supposed China oil contract backed by gold

Section:

11:08a ET Thursday, September 14, 2017

Dear Friend of GATA and Gold:

In comments to The Daily Coin's Rory Hall this week, gold researcher Koos Jansen expresses great skepticism about the recent report by the Nikkei Asian Review --

https://asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-w...

-- asserting that China is planning to do its oil business in yuan convertible into gold at the Shanghai and Hong Kong exchanges.

Jansen doesn't see how oil contacts can be directly related to gold as China's gold market is currently structured, and he notes that traders selling oil to China already can be paid in yuan and use them to buy gold, if not necessarily in China itself.

Jansen's comments are headlined "China's Gold-Backed Oil Benchmark" and it's posted at The Daily Coin here:

http://thedailycoin.org/2017/09/13/chinas-gold-backed-oil-benchmark/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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