Good article. A TU from me, Dub. But it gives an impression that China has only one purpose for its gold accumulation; to float the yuan.
The explanation doesn't address other major and related concerns occurring within the bigger picture, such as, spiralling out-of-control national/global debts, or China's secrecy over gold accumulation and the latest ambition to buy up gold mines, or how China should protect its USD3T debt owed by US, or how continuing gold price rigging by a cartel of the world's largest banks might eventually undermine the yuan-based Shanghai GEx.
Appreciate your post and I'm keen to read more of such objective analyses by various experts. I'm hoping to come across some such articles myself. For example, what does Armstrong think about the best economic minds in China and their ability to address any one of the above concerns by, say, relentless secretive gold/mines accumulation, or capturing the bulk of international trade with Africa? And what is the US & Eu doing in response? Doubt that they'll just sit and idly watch.
Without factoring in the bigger picture, this article comes across as rather one-dimensional. In an interconnected world, there are not many economic issues that are one-dimensional.
