China has recently introduced a new yuan priced gold fix. Within a week of the new fix being introduced, Russia and China announced a new gold trading platform. Most Western central bankers and commentators claim gold is a barbarous relic, a pet rock, a cabbage patch doll, so why all these moves in the gold market? Double Down asks Austrian economist, Sandeep Jaitly, to explain the purpose of a fix and what the gold moves by Russia and China might tell us about the current fiat money system.
CLICK ON IMAGE BELOW TO LISTEN TO SHOW
Click this image to listen!