DUB
Your first article states there will be no changing of the New Yuan into USD.
You second article states pretty much the opposite.
There is no way China could stop anyone from swapping their new Yuan for US dollars unless the New Yuan was only used in local trade. The first article also has no journo's names attached to it.
There is something definitely wrong here imo.
Second article
China’s Big Four Join Yuan Gold Fix
Posted | 14/04/2016 / Views | 385
Like the London spot benchmark, the new benchmark will be set twice a day.
Priced in dollars per troy ounce, the London spot is derived from electronic auctions; something introduced in 2012 to replace the inter-bank teleconference mechanism after the Libor scandal. China’s benchmark will be derived from a period of trade time, will be priced in yuan per gram and will be based on a 1kg contract. The 18 members of the benchmark are reported as including gold miners, the world’s biggest jewellery retailer, Chow Tai Fook and Swiss trading house MKS.
https://www.ainsliebullion.com.au/g...in-yuan-gold-fix/tabid/88/a/1214/default.aspx
So what are they going to do, they have priced their Gold fix in Dollars but according to the first article you cant buy the Gold Backed New Yuan for Dollars????
