Part 3: China Drops The Dollar, Goes Gold
2008-2023 and beyond
Housekeeping: Every word of this is worth reading
Timeline/ Contents:
2008: The US Great Financial Crisis Begins
China Sends an Emissary to Hank Paulson
The GFC Re-sensitizes China to Gold’s Value
Gold Promoted Domestically
2009: The Long Term Gold Strategy Begins
Gold The Logical Choice in a Return to Sensibilities
2008-2022: The Dedollarization Battle
2013: The Xi Jinping Era begins
2016: Qualifying for the IMF Status
Xi Wants a Multipolar Legacy
2022: China Restarts its Gold Strategy
2023: Yuan Internationalization Begins
Golden Yuan Hits the Main Stage
2024: The Process Accelerates
What Needs to Happen to the Yuan Next
Foreword
These are quotes from a Chinese national outlining the history of US/China relations over the past 15 years through a golden lens. All additions are [bolded in brackets].
Titles, Subtitles, and a few pictures were added. Only the tense of a few verbs were changed from the translation, and our own notes were re-organized in a chronological order where possible, for coherent flow of China’s evolving policies and practices.
It should also be added: These are the opinions and observations of one person. We cannot guarantee their 100% validity as we also translated them from Chinese. Please be aware that verb tenses, comparative and adverbial adjectives are not perfect.
Finally. Whether you agree with these ideas or not, know the person responsible for them is well thought of by his nation’s elders and the precious metals community within that nation. This is basically how China perceives things, or at least how they want the world to perceive things from their side of the fence.1
2008: The US Great Financial Crisis Begins
Authored by Bai Xiaojun, Contributions and Editing by VBL
There were differences between China and the United States in the past, but they were within normal limits and did not affect the overall situation. Big cracks began to appear in 2008. After the financial tsunami broke out in the United States, the Federal Reserve launched QE continuously to fight the financial tsunami.
China held nearly 3 trillion U.S. debt back then and was extremely shocked that the United States started printing money indiscriminately without even touching base with one of the US’s biggest creditors.
China’s Emissary to US “Ineffective”, Russia Comments
Then the central bank governor Zhou Xiaochuan was sent to the United States to communicate, but the result was ineffective. China had to face reality. In fact, it had no choice but to accept reality.
