China Reported Planning To Back the Yuan With Gold

http://jessescrossroadscafe.blogspot.com/2013/07/china-reported-planning-to-back-yuan.html

This is an interesting article for several reasons, not the least of which is that it is from a Russian publication and perspective, reflecting on the possible actions of China in the evolution of the global reserve currency regime.

As you know Russia is promoting a rethinking of the post Bretton Woods monetary system through their chairmanship of the G20 this year.   There are other shoes to drop yet from that.

I suspect that China is playing chess here, or perhaps more appropriately the game of 'Go,' and not checkers. So snap judgements about what they are doing and why they are doing it are probably going to be fairly shallow.  Most professionals and so-called experts are blinded by the status quo, lost in their own jargon and assumptions.  There are many mechanics, but fewer systems thinkers.