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.
The Real Reason Behind the New Yuan Gold Fix
10:56 GMT 04.05.2016 (Updated: 11:15 GMT 04.05.2016)
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On today’s episode of Double Down, hosts Max Keiser and Stacy Herbert are joined by Sandeep Jaitly of Fekete Research to discuss the introduction of a yuan gold fix. What is a fix anyway? And why does this matter?
