China’s big move for the 21st century is to pull a “trap door” on the U.S. by launching a gold-backed crypto currency that will devalue the U.S. dollar to “zero,” this according to Max Keiser, host of the Keiser Report.

“[China] is rolling out a cryptocurrency, a lot of the details have not been divulged. I can tell you that the cryptocurrency that China’s rolling out will be backed by gold. It’s a two-pronged announcement. Number one, China’s got 20,000 tonnes of gold, number two, we’re rolling out a crypto coin backed by gold, and the dollar is toast,” Keiser told Kitco News.

Keiser added that bitcoin is a superior form of currency to gold.

“Both fiat money and gold are inferior to bitcoin for one very simple reason, that with a bitcoin transaction, it is also simultaneously the settlement. You don’t have that with fiat, you don’t have that with gold,” he said.
________________________________________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

Subscribe to our channel to stay up to date on the latest insights moving the metals markets.

For more breaking news, visit http://www.kitco.com/

Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?r...
Twitter -   / kitconewsnow  
Google+: https://plus.google.com/u/0/116266490...
StockTwits - https://stocktwits.com/kitconews

Live gold price and charts: http://www.kitco.com/gold-price-today...
Live silver price and charts: http://www.kitco.com/silver-price-tod...

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscriptio...

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/


Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.