"China is busy recasting all of their gold reserves into smaller one kilo bars in order to issue a new ‘gold backed’ global currency. This is no doubt the reason for the recent trade agreements with Russia, Japan, Chile, Brazil, India, and Iran."
Can somebody please explain:
1-Why does China need its gold reserves converted into 1 kilo bars in order to introduce some form of gold standard or, if you prefer, a gold backed global currency?
2-In what way China's agreement with Brazil, in terms of which China and Brazil will make a $30 billion currency swap utilizing the real and the renminbi, has to do with the introduction of the said gold standard?
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