Toilet Paper Money (Fiat Currency)
Why China Is Buying Gold
This group (State Administration of Foreign Exchange) is engaged in a full-fledged currency war with the United States. The ultimate goal – as the Chinese have publicly stated – is to create a new dominant world currency and dislodge the US Dollar from its current reserve role.
I'm not going to go into what's going to happen if the US dollar is displaced as the world's reserve currency...but let's just say
not good.