"but a move has been made since 2011 by the Chinese, as they accumulate gold, to allow the Yuan to strengthen in an attempt to become a world reserve currency."
Dillinja, the main way the Yuan can become the global reserve currency is if China becomes the world's primary IMPORTER to replace good ole USA.
This is actually happening from an Australian perspective because China has become our most important customer.
Mike Shedlock discussed Australia's new currency relationship with China a few days ago. There's no conspiracy needed to explain all of this, just simple economic sense:
In short, if China becomes the world's main consumer the Yuan will naturally trend toward becoming the reserve currency simply because anyone wanting to trade with China will have to accept Yuan... as they currently have to accept USD
Having gold probably helps to this end, but I find it hard to believe that Chinese central planners would like to have their money printing abilities constrained by some form of a gold standard
