China Isn't Creating A Crypto Backed By Gold (Max Keiser Is Wrong Again!)

Max Keiser is pretty funny sometimes but lately he is just going all over the place with is predictions. They actually don't make any sense in a lot of ways. One of the most powerful things a country can do is create a currency backed by nothing and then bleed the citizens out of their hard work overtime. Why mine for GOLD when you can mine all the citizens time and effort by making them pay in the form of taxes and inflation. A currency that loses half its value over the course of 40 years is relatively strong compared to a lot of fiat currencies so all you have to do is not inflate as much as the others and don't rack up as many Trillions of debt as other countries. They are all inflating and racking up debt....... so don't do it as much and you look strong. LOL China isn't into the game of empowering citizens so why would they create something that could potentially be exchanged for gold that they are supposedly holding? It just isn't going to happen. Also if they pegged a crypto to gold it would potentially devalue their fiat currency.

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