I don’t know when, I don’t know how but somehow there has got to be a link I think to give the renminbi a level of credibity in cross-border trade which places it above the dollar. I think gold is the obvious link for this. – Alasdair Macleod
Rory Hall of The Daily Coin just posted a must-hear interview with Alasdair Macleod. Topics include the recent news that HSBC is closing all seven of its “retail” gold vaults in London (it is keeping the GLD vault open), the new London gold fix, the curious “RMB, New World Currency” billboard that went up to next to China’s busiest airport and the Shanghai Cooperation Organization:
I have been reading Alasdair’s work for several years and consider him to be one of the most insightful financial market analysts – particularly with regard to his analysis of the precious metals market.
Note: In two weeks The Shadow of Truth will be hosting a roundtable discussion with Alasdair Macleod, Turd Ferguson, Rory Hall and myself. We plan on discussing the Shanghai Cooperation Organization (SCO) in depth. Understandably, the mass financial and political media has completely avoided reporting on the SCO. Remarkably, the alternative media blogosphere has largely ignored the topic. But the SCO is going to be a global game-changer. We will be discussing how and why.