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Shanghai gold boss wants super-sovereign currency for post-crisis times

 
Anonymous Coward
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Czech Republic
05/03/2020 11:06 AM
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Shanghai gold boss wants super-sovereign currency for post-crisis times
SHANGHAI, April 28 - The president of the Shanghai Gold Exchange (SGE) called for a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term, while gold prices rally.

Concern has mounted among some market participants over the dollar-denominated system as the U.S. Federal Reserve cut interest rates to near-zero and embarked on unlimited quantitative easing to contain the economic damage of the coronavirus pandemic.

The measures have helped to drive gold prices XAU= to more than seven-year-highs this month, while the dollar has been range-bound. =USD

Wang Zhenying, who heads the world's largest physical spot gold exchange, said in an interview the gold gains should be sustained, but ultimately a new kind of currency was needed.

"Future global trade needs a super-sovereign currency system under which no single country has the power to freeze the international assets of another country," said Wang, who held senior roles at China's central bank, which supervises the SGE.

Wang foresaw a decline in the U.S. currency, triggered by the Fed's monetary policies.

"When the Fed turns on the liquidity tap, the U.S. dollar will, in theory, be in a long-term depreciatory trend," he said, even though the panic of the current crisis could trigger a temporary scramble for the greenback.

His comments on a new global currency echo a previous proposal to reform the international monetary system during the 2008/09 global financial crisis.

more on [link to www.nasdaq.com (secure)]
Anonymous Coward (OP)
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05/03/2020 11:07 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
You know what that means, end of the FIAT money, USA won't no longer be the world sheriff and main currency holder, big question is if USA approves and is working on the plan together with the Chinese or the Chinese want to introduce digital - super - currency without USA's knowledge, green light, in that case that means WW3.
Anonymous Coward
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05/03/2020 11:08 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Oh shit. America is about to invade & occupy Shanghai?

:banker:
Dr. Feels

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05/03/2020 11:11 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
xrp
xlm
apple orchard

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05/03/2020 11:18 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
SHANGHAI, April 28 - The president of the Shanghai Gold Exchange (SGE) called for a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term, while gold prices rally.

Concern has mounted among some market participants over the dollar-denominated system as the U.S. Federal Reserve cut interest rates to near-zero and embarked on unlimited quantitative easing to contain the economic damage of the coronavirus pandemic.

The measures have helped to drive gold prices XAU= to more than seven-year-highs this month, while the dollar has been range-bound. =USD

Wang Zhenying, who heads the world's largest physical spot gold exchange, said in an interview the gold gains should be sustained, but ultimately a new kind of currency was needed.

"Future global trade needs a super-sovereign currency system under which no single country has the power to freeze the international assets of another country," said Wang, who held senior roles at China's central bank, which supervises the SGE.

Wang foresaw a decline in the U.S. currency, triggered by the Fed's monetary policies.

"When the Fed turns on the liquidity tap, the U.S. dollar will, in theory, be in a long-term depreciatory trend," he said, even though the panic of the current crisis could trigger a temporary scramble for the greenback.

His comments on a new global currency echo a previous proposal to reform the international monetary system during the 2008/09 global financial crisis.

more on [link to www.nasdaq.com (secure)]
 Quoting: Anonymous Coward 78831457


does he think the NWO is going to give-up its Power?
The Searcher

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United Kingdom
05/03/2020 11:21 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
You know what that means, end of the FIAT money, USA won't no longer be the world sheriff and main currency holder, big question is if USA approves and is working on the plan together with the Chinese or the Chinese want to introduce digital - super - currency without USA's knowledge, green light, in that case that means WW3.

________________________+++++++++++++++++++++++++++++++++++


No and No. The $ will loose it's reserve status and we will have a metals backed currency. China, Russia, and India are sitting on massive gold reserves. Many Nations have been switching from the $, it's status was never going to last forever.

Fiat to be replaced with gold backed currencies. I do not think any one Nation will have a reserve currency maybe a basket of currencies?

Digital and Fiat only works for the crooks and they are presently being taken down.
The Earth created humans because it needed plastic
Anonymous Coward
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05/03/2020 11:36 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
I've got a new currency for China - Thermonuclear strikes
mr jenzie

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05/03/2020 11:45 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
price sustainment NEVER EVER HAPPENS
idiot should know that by NOW?
Anonymous Coward
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05/03/2020 12:14 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
BTC, FTW!

5a
JStav

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05/03/2020 12:27 PM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
xrp
xlm
 Quoting: Dr. Feels


hesright
Anonymous Coward
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05/03/2020 01:04 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Thread: Alex Jones, "I'll eat your ass!"
Moderatefunnyhello

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05/03/2020 01:37 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times

Moderatefunnyhello
Anonymous Coward
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05/03/2020 02:07 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
You know what that means, end of the FIAT money, USA won't no longer be the world sheriff and main currency holder, big question is if USA approves and is working on the plan together with the Chinese or the Chinese want to introduce digital - super - currency without USA's knowledge, green light, in that case that means WW3.

________________________+++++++++++++++++++++++++++++++++++


No and No. The $ will loose it's reserve status and we will have a metals backed currency. China, Russia, and India are sitting on massive gold reserves. Many Nations have been switching from the $, it's status was never going to last forever.

Fiat to be replaced with gold backed currencies. I do not think any one Nation will have a reserve currency maybe a basket of currencies?

Digital and Fiat only works for the crooks and they are presently being taken down.
 Quoting: The Searcher


Isn't that trading one monopoly (FIAT) for another (gold)?

99% of the world's gold supply is owned governments, not the people.

And you know once we start over again, it's just a matter of time before each country moves off their "gold standard, into its own inflationary and easily manipulated currency.

The reason you can manipulate people, workers, banks, loans, the economy, the WORLD... is because FIAT can be manipulated and you need to grovel before the gatekeepers that issue it. Same exact thing with gold, no difference whatsoever...
Anonymous Coward
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05/03/2020 04:05 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
one of the most important, pinned topics today got the least answers, replies

shows you how people are ignorant and how this power, money grab will lead to ultimate destruction of the planet.
We Who Watch.

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05/03/2020 04:09 PM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
SHANGHAI, April 28 - The president of the Shanghai Gold Exchange (SGE) called for a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term, while gold prices rally.

Concern has mounted among some market participants over the dollar-denominated system as the U.S. Federal Reserve cut interest rates to near-zero and embarked on unlimited quantitative easing to contain the economic damage of the coronavirus pandemic.

The measures have helped to drive gold prices XAU= to more than seven-year-highs this month, while the dollar has been range-bound. =USD

Wang Zhenying, who heads the world's largest physical spot gold exchange, said in an interview the gold gains should be sustained, but ultimately a new kind of currency was needed.

"Future global trade needs a super-sovereign currency system under which no single country has the power to freeze the international assets of another country," said Wang, who held senior roles at China's central bank, which supervises the SGE.
 Quoting: Anonymous Coward 78831457

Wang, you sound like a communist.

sparky10

Last Edited by We Who Watch. on 05/03/2020 04:12 PM
There are over 7 billion people on the planet.
And I am one.
sparky10
Anonymous Coward
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05/03/2020 04:10 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Oh shit. America is about to invade & occupy Shanghai?

:banker:
 Quoting: XeroGravity


hesright

"The bold efforts that the present bank has made to control the government, the distress it has wantonly caused, are but premonitions of the fate which awaits the American people should they be deluded into a perpetuation of this institution. If the people only understood the rank injustice of the money and banking system there would be a revolution before morning. You are a den of vipers and thieves."
-Andrew Jackson
Anonymous Coward
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05/04/2020 10:16 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Eternal question is how do you protect your wealth from inflation, taxes and the corrupt elites, politicians.

Gold is great but is very limited in liquidity and costs a lot to store it.

China's middle class is now bigger than entire USA population.

Dollar is being printed into oblivion, gold-backed currency will be the new world reserve.

Idol1
BIG.BILL
Moon Lambo

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05/04/2020 10:23 AM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
xrp
xlm
 Quoting: Dr. Feels


whistle


- - - - - -
“It is not hard to imagine serious public dangers emerging out of instances in which political, military, scientific or religious leaders are unable to distinguish fact from vivid fiction.” ~ Carl Sagan

2011: A Forum Odyssey

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Seattle.

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hankie
Everything

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05/04/2020 11:03 AM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
I will be glad to go back to gold-backed currency in the US because we are supposed to be gold and silver and other metal-backed. Weights and measure are how it supposed to be. I sure the markets will hate to give up their fake wealth.

Last time I checked to see who held the most gold, well it was not China.
Sorry I got a headache

These are the times that tries men's and
women's souls!

May we come though it victorious!
Anonymous Coward
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United Kingdom
05/04/2020 11:06 AM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Too bad that most of the gold China has in it's stores is fake.
Q33

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05/04/2020 12:14 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
SHANGHAI, April 28 - The president of the Shanghai Gold Exchange (SGE) called for a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term, while gold prices rally.

Concern has mounted among some market participants over the dollar-denominated system as the U.S. Federal Reserve cut interest rates to near-zero and embarked on unlimited quantitative easing to contain the economic damage of the coronavirus pandemic.

The measures have helped to drive gold prices XAU= to more than seven-year-highs this month, while the dollar has been range-bound. =USD

Wang Zhenying, who heads the world's largest physical spot gold exchange, said in an interview the gold gains should be sustained, but ultimately a new kind of currency was needed.

"Future global trade needs a super-sovereign currency system under which no single country has the power to freeze the international assets of another country," said Wang, who held senior roles at China's central bank, which supervises the SGE.

Wang foresaw a decline in the U.S. currency, triggered by the Fed's monetary policies.

"When the Fed turns on the liquidity tap, the U.S. dollar will, in theory, be in a long-term depreciatory trend," he said, even though the panic of the current crisis could trigger a temporary scramble for the greenback.

His comments on a new global currency echo a previous proposal to reform the international monetary system during the 2008/09 global financial crisis.

more on [link to www.nasdaq.com (secure)]
 Quoting: Anonymous Coward 78831457


China is going to end up being nuked by the US if they don't stfu
Anyone who challenges their control is deemed a sexist, a racist, a xenophobe and morally deformed , they will attack you they will slander you, they will seek to destroy your career and your family, they will seek to destroy everything about you , including your reputation they will lie lie lie, they will do whatever is necessary!

"To destroy a people, you must first sever their roots"
apple orchard

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05/04/2020 01:03 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Too bad that most of the gold China has in it's stores is fake.
 Quoting: Anonymous Coward 78672768


gold plated tungsten.
ALL IS ONE IS ALL
I AM THAT I AM- KAN DAEK

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05/04/2020 01:19 PM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
SHANGHAI, April 28 - The president of the Shanghai Gold Exchange (SGE) called for a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term, while gold prices rally.

Concern has mounted among some market participants over the dollar-denominated system as the U.S. Federal Reserve cut interest rates to near-zero and embarked on unlimited quantitative easing to contain the economic damage of the coronavirus pandemic.

The measures have helped to drive gold prices XAU= to more than seven-year-highs this month, while the dollar has been range-bound. =USD

Wang Zhenying, who heads the world's largest physical spot gold exchange, said in an interview the gold gains should be sustained, but ultimately a new kind of currency was needed.

"Future global trade needs a super-sovereign currency system under which no single country has the power to freeze the international assets of another country," said Wang, who held senior roles at China's central bank, which supervises the SGE.

Wang foresaw a decline in the U.S. currency, triggered by the Fed's monetary policies.

"When the Fed turns on the liquidity tap, the U.S. dollar will, in theory, be in a long-term depreciatory trend," he said, even though the panic of the current crisis could trigger a temporary scramble for the greenback.

His comments on a new global currency echo a previous proposal to reform the international monetary system during the 2008/09 global financial crisis.

more on [link to www.nasdaq.com (secure)]
 Quoting: Anonymous Coward 78831457


all of this for every country is coming as part of the Millennial Reign of Christ Jesus and the dollar is going bye bye... Each country will have its own gold back currency... no global fed any more.
Understand that THOU ART WITH ME...... Is not the bible.
The point of this PERFECT STORM YOU ARE IN.. is to FIND THOU ART WITH ME IN SIDE OF YOU... OK....


KD New begin....
ALL IS ONE IS ALL
I AM THAT I AM- KAN DAEK

User ID: 78792451
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05/04/2020 01:20 PM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Too bad that most of the gold China has in it's stores is fake.
 Quoting: Anonymous Coward 78672768


gold plated tungsten.
 Quoting: apple orchard


and you ones above know that HOW.. or do you just like doing empty rumormills?
Understand that THOU ART WITH ME...... Is not the bible.
The point of this PERFECT STORM YOU ARE IN.. is to FIND THOU ART WITH ME IN SIDE OF YOU... OK....


KD New begin....
Anonymous Coward
User ID: 68963075
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05/04/2020 01:20 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Ping pong says what?
BIG.BILL
Moon Lambo

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05/04/2020 01:42 PM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Ping pong says what?
 Quoting: Anonymous Coward 68963075


Gnip Gnop


- - - - - -

Last Edited by BIG.BILL on 05/04/2020 01:42 PM
“It is not hard to imagine serious public dangers emerging out of instances in which political, military, scientific or religious leaders are unable to distinguish fact from vivid fiction.” ~ Carl Sagan

2011: A Forum Odyssey

[link to www.youtube.com (secure)]

Seattle.

[link to www.youtube.com (secure)]

Who's in Control?

[link to www.youtube.com (secure)]
Crater

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05/04/2020 04:20 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
What you mean gold has limited liquidity it has very good liquidity
So
Anonymous Coward
User ID: 78804586
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05/04/2020 04:22 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
Read this below!
 Quoting: Anonymous Coward 78831457


I heard the blood clots so bad doctors never seen anything like it
 Quoting: Cartel™


That's because it's dehydration from the bacteria in your body swelling up exponentially due to gamma rays getting through the Earth's atmosphere from the magnetosphere diminishing from Muslims sucking all the Earth's coolant out that was causing a difference in temperature between the core and the mantle. That difference in temperature kicks on the magnetosphere because you have to super cool a magnet to generate a strong magnetic force.
 Quoting: TearJerk 78804586


So what would a person do about this?
 Quoting: Anonymous Coward 76984449


Damage control. Find a way to mitigate and cap the leaks of oil from the Earth. Find all monies paid for said Oil and use the money to protect the Earth and feed the people. Incarcerate all those in positions of power who don't cooperate fully providing all the detailed information they can. Full pardons for all those who cooperate with Homeland Security.

Personal health would consist of staying lubricated to insulate toxin in the body using coconut oil, and other oils high in omega-3s while maintaining a warm atmosphere, warm baths, jogs, warm clothing to keep the blood flowing as well as possible. Faster blood flow means more antibodies to the infections throughout the entire body. Lots of water. Lots of veggies. Lots of carrot juice, celery juice(for the silica) lots of apple juice lots of berry juice.

Absolutely no enriched wheat flour or wheat flour of any kind as it contained flesh eating bacteria... AKA candida.

Coronavirus is a yeast hunter.
Woodsie

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05/04/2020 04:53 PM
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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
THE DONALD has been fighting the banks all his life, cutting deals for loans, declaring bankruptcy, and starting over again. He will borrow and spend the banks to death, and then instigate a new, constitutional currency based on gold. He has always been a goldbug and understands monetary policy, fractional reserve banking, et al. Ron Paul's fans should recognize in THE DONALD a man with the same animosity towards the Fed as Dr No himself. The banks will be brought to heel and the current business shutdown is going to lead to an a new economic nationalism bolstered by sound money. Or we're all doomed. It could go either way, but I'm pulling for THE DONALD.
ALL IS ONE IS ALL
I AM THAT I AM- KAN DAEK

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United States
05/04/2020 05:12 PM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times

 Quoting: Moderatefunnyhello


which Fulford.. there have been many now... who owns his lookalikes?

Last Edited by ALL IS ONE IS ALL on 05/04/2020 05:13 PM
Understand that THOU ART WITH ME...... Is not the bible.
The point of this PERFECT STORM YOU ARE IN.. is to FIND THOU ART WITH ME IN SIDE OF YOU... OK....


KD New begin....
ALL IS ONE IS ALL
I AM THAT I AM- KAN DAEK

User ID: 78792451
United States
05/04/2020 05:14 PM

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Re: Shanghai gold boss wants super-sovereign currency for post-crisis times
What you mean gold has limited liquidity it has very good liquidity
 Quoting: Crater


if you own real gold and not paper gold... the value of your paper gold is 1/60 the value of actual gold.
Understand that THOU ART WITH ME...... Is not the bible.
The point of this PERFECT STORM YOU ARE IN.. is to FIND THOU ART WITH ME IN SIDE OF YOU... OK....


KD New begin....





GLP