China Refuses to make its new gold-backed Yuan convertible to or from US Dollars

China Refuses to make its new gold-backed Yuan convertible to or from US Dollars

In a shocking move, likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible to or from US Dollars. _________________________________________________ The new Yuan, which will be gold-backed, will be introduced next Tuesday, April 19, 2016.  China decided to make the Yuan a more reliable currency when the International Monetary Fund (IMF) agreed to add it to the list of world currencies used for Global Reserves and International Trade. China has…

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