In case you are not aware, on Monday, March 26 China is launching a Gold backed Petro Yuan. It’s become pretty clear that China and Russia particularly have grown tired of the dollar dominance. “petroyuan is seen as Beijing’s challenge to the US dollar, the dominant global currency in oil contract settlements.” Source
Of course some pumpers are touting this as the day the US dollar dies. I do not agree with that, but I do think Monday could go down as an important day in history and for the precious metals. I think this may be opening that plays out over the next few years that saw the dollar fall, which could mean higher PM prices long term.
Could we look back and say that 3/26/18 was an important day in history? I’d love to get your feedback!
Keep calm and Steem on!
