Does China Plan To Back The Yuan With Gold And Make It The Primary Global Reserve Currency?

Most people in the western world assume that China just wants a "seat at the table" and is content to let the United States run the show.  But that isn't the case at all.  The truth is that China doesn't just want to compete with the United States.  Rather, China actually plans to replace the United States as the dominant economic power on the planet.  In fact, China already accounts for more global trade than the United States does.  So what would happen one day if China announced that it was backing the yuan with gold and that it would no longer be using the U.S. dollar in international trade?

 

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