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China has been recasting their gold reserves, currently in 12.4 kg bars into smaller 1 kg bars, allegedly to lay the foundation a gold backed currency, and new banking reserve system.

Tinfoil Tuesday: The Road to Roota Theory
Bix Weir posits that there is a faction working within the banking elite working to undo their monetary hegemony and usher in a new era of honest currency.

The Peoples Bank of China has announced that it will no longer fix its currency in terms of the dollar. Instead it will manage the yuan against a basket of currencies.

New bitcoin trading site, Coinabul.com, is now accepting bitcoins in exchange for gold. Orders are currently live during the private beta. Coinabul is the only true Bitcoin-to-Gold exchange in the world. Bitcoin is a digital stored value vehicle, able to provide near-instant transaction capability in a global Internet economy. Bitcoin users are able to trade in bitcoins to their national currency via currency exchanges, but for users who prefer to save their money in gold, Coinabul provides instant gold purchasing capabilities.

The dollar may fall below 75 yen next year as it becomes the world’s “weakest currency” due to the Federal Reserve’s monetary-easing program, according to long-time partners-in-crime, J.P. Morgan.

Craig Franco hopes to cash in on Gold currency legalization with his Utah Gold and Silver Depository. His business idea: Store your gold and silver coins in a vault, and Franco issues a debit-like card to make purchases backed by your holdings.

Russia wants the ruble to be one of the world’s reserve currencies as President Dmitry Medvedev renews his push to reduce the dollar’s dominance and make Moscow a global financial hub. “Only three, five years ago it seemed like a fantasy” to create a new reserve currency, Medvedev said yesterday in a speech in St. Petersburg, Russia. “Now we are seriously discussing it.”

Does China Have a Superior Economic Model?

In a recent piece for the Wall Street Journal, Andy Stern, an Obama insider and one of organized labor's more aggressive personalities, praised what he called "China's superior economic model."

Does China have a superior economic model? That depends: Superior to what?

The head of the US Federal Reserve has delivered a thinly-veiled attack on China, arguing that if countries hold down their currencies they run the risk of "slow growth for everyone."