Saturday, April 18, 2009

China unloading US Treasuries for mass quantities of copper and other raw materials to diversify out of dollar holdings


1 comment:

David Wozney said...

Ambrose Evans-Pritchard wrote: “But if a metal-based currency ever emerges to end the reign of fiat paper, it is just as likely to be a ‘Copper Standard’ as a ‘Gold Standard’.

Unlike copper, nickel does not rust. Per gram, nickel is more valuable than copper.

One disadvantage with gold as a standard is that it is too high-value for small-change circulation coin, unless low-percentage-gold alloys are used. Some people prefer purity, and pure gold is too soft for coins that circulate.

Pure nickel is hard enough for circulating coins.