Comments from state backed Xinhua that call for a “de-Americanised world” and a proposal to consider a new international reserve currency to replace the dollar mark a key event for gold prices.
The official Xinhua News Agency and the voice of the Chinese government, offered a not so subtle, highly critical commentary on October 14 regarding the U.S.’ appalling fiscal, monetary and political situation as it stands today.
While the Chinese echoed the notion of a “super-sovereign reserve currency” before, their statement is more important as the U.S. continues to struggle to reach agreements on debt ceiling talks and future monetary policy actions.
“It is perhaps a good time for the befuddled world to start considering building a de-Americanised world” said the important op-ed.
