In May 1922, representatives of 34 countries in Genoa agreed to use world reserve currencies as reserves instead of gold - to save on transportation. As a result, this led to manipulations when one gold was rebuilt several times on the papers and bubbles pouted. One of them led to the great depression in the United States - but with small adjustments, the system to this day worked, the lion's part of the country's reserves were kept in currency, and there were almost no direct transactions with gold, only through the dollar. Actually, this allowed the United States to uncontrollably increase the public debt - it will be bought anyway.
Now, any trading partners of the PRC with a positive balance of trade with China can exchange yuani directly for gold on the Shanghai Exchange. Firstly, the shock is that not through the dollar, but through Yuan. Secondly, this is a sharp step towards the transparency of trade and restore the rules of the 19th century - & quot; where is the gold there and money & quot;. США.
