Perhaps they are getting ready to accept USD exchanges... into a gold backed Yuan.
Total and complete money wars in 3.. 2...
Prepare for cryptocoin to go ballistic if that happens, because non gold backed fiat will be exited. Money will flow into BTC and cryptocoin because BTC will then be gold backed, essentially.
Crypto coin in the slump.
When do they expect to announce ?
In terms of Jim Rickard's analysis, it is already happening with massive US Treasury dumping having begun now.
If either China or Russia monetize their state currency in terms of gold, they would have to reveal their lying as to amounts of gold. So, it's kinda of a game of chikun, haha.
Anyway China has an interest at the party level to keep fiat money and NOT link to gold. But, if Russia and China are being pushed to give up Sevastopol and the China Sea, well, they will probably rather just go back to back and fight WW3 then sort their own differences out later. Who knows?
The whole Goxcoin thing kinda makes sense as a pre-War act because during dfog of war, those coins will never be found but they CAN be used for funding armies, haha, a billion dollars in cryptocoin stolen from BTC walletbag thefts x100 when BTC goes ballistic is worth more than most nations. 1 billion today stolen is 1 trillion tomorrow when cryptocoin is pegged to a revalued gold trade. Oh and there would have to be a separate dollar, the old dollar would have to be laden with the debt and eventually ditched. --There is precedence for this of course, when the USSR collapsed in 1991 they said 50 ruble and 100 ruble notes were suddenly being phased out in one week and you had one week to take way lower % on your rubles. So if gold revaluation happens, then yes, bitcoin in yuan as a world gold currency would fly high I bet. But, the authorities in NATO economic block would probably just try prevent Yuan from being traded, which again, is good for cryptocoin users.
The public are not prepared for money wars, but the cryptocoin users are well positioned. Also get some rice because that also has historically served as money.
Anyway, I am just semitrolling because I am sure their announcement is something simple and benign like accepting Mastercard or something.
edit
http://www.examiner.com/article/as-the-eu-prepares-for-sanctions-russia-threatens-to-put-oil-on-a-gold-standard[...]
However, like with the Syrian crisis of last September, Russia is quickly retaliating with their own economic threats, and
one major action that they could undertake as a response is to discard the Petro-Dollar and demand physical gold as payment for energy purchases in both oil and natural gas.Just as the Iranians did under U.S. sanctions just a few years ago.
[...]
Should Russian foreign exchange reserves and bank assets be frozen as is being suggested, then Russia would likely respond by
wholesale dumping of their dollar reserves and bonds.In retaliation,
Russia could opt to only accept gold bullion for payment for their gas, oil and other commodity exports. This would likely lead to a sharp fall in the dollar and a surge in gold prices.
edit #2
Since Feb. 28, the day unidentified soldiers took control of Simferopol Airport in southern Ukraine, Russia’s 19 richest people have lost $18.3 billion, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 300 richest wealthiest people.
