China's Gold-Backed System: Bypassing the Dollar & SWIFT

So, the reason it's important to put it in Hong Kong is that when gold leaves Hong or China has to leave Hong Kong. Can't come out of Shanghai, it has to come out of Hong Kong. And the rails that they are setting up, uh the SIPS, the cross-interbank payment system, um the EMBridge, both of which are operational now. EMBridge is more of a pilot. SIPS is fully operational. SIPS is the cross-interbank payment system. They just signed up the countries in Southeast Asia. ASEAN is their acronym, ASEAN and they represent 800 million people, twice the population of the West. They're China's biggest trading partner by far. These countries will have the ability to trade in commerce their own local currencies, settle in balances in gold. And if you are, for example, buying something from China, uh and accepting digital Yuan. Right now, the Yuan is immediately convertible into gold without converting into dollars through the Shanghai exchange, taking possession in Hong Kong. Now as as the trend goes, their aspirations are to build a series of vaults in multi-jurisdictional territories. The um there are various reports that say the they've also just completed one in Saudi ...