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Dominic Frisby: China owns a lot more gold than it's letting on -- and here's why
By Dominic Frisby
Money Week, London
Wednesday, April 21, 2021
It has been clear for some time that China has designs on the US dollar’s global reserve currency status. For China, this is simply a return to its rightful position on top of the world. To us Western usurpers, the implications of this are just enormous.
... Dispatch continues below ...
Honey Badger Silver's Chad Williams
talks with Chris Marcus of Arcadia Economics
Honey Badger Silver's executive chairman, Chad Williams, tells Chris Marcus of Arcadia Economics that "inflation is here" already and that rising interest rates didn't impede gold and silver in the 1970s and won't necessarily impede them today.
Honey Badger Silver is a Canadian silver company based in Toronto that is building a portfolio of silver and other assets. The company has a big position in Ontario's prolific Thunder Bay Silver District. The company's shares trade on the TSX Venture Exchange under the symbol TUF and over the counter in the U.S. as HBEIF. The company's internet site is here:
Williams' interview with Marcus is 25 minutes long and can be viewed at YouTube here:
Nine in ten central banks are working on digital currencies, according to research by Fintech and IT Benchmarks 2021, but none (except perhaps the Bahamas), are as advanced as China, which has been working on its since at least 2014. Word is, it wants it to be fully functional in time for the Beijing Olympics in 2022. Forget Rishi Sunak’s Britcoin, China is way ahead.
The Wall Street Journal, meanwhile, reports that Chinese broadcaster CGTN has been circulating an animation in English of a man in an American-flag shirt being knocked out by a golden coin with the stamp of the digital yuan. One word stuck out for me from that Wall Street Journal piece – “golden”. Gold is some useless, inert asset, right? Whose heyday was in the 19th century, as irrelevant to modern finance as the horse is to transport? ...
... For the remainder of the report:
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