RATE Group | China’s ‘DCEP’ Cryptocurrency Will be Gold-Backed: Max Keiser
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China’s ‘DCEP’ Cryptocurrency Will be Gold-Backed: Max Keiser

02 Nov China’s ‘DCEP’ Cryptocurrency Will be Gold-Backed: Max Keiser

Posted at 14:21h in Cryptocurrency News by

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After a period of absence, RT’s Max Keiser is back and his commentary on the current state of the global economy is as colorful as ever. The bitcoin bull also had some interesting things to say about China’s gold hoards and its new central bank-backed cryptocurrency.

Gold-Backed Cryptocurrency

In a Halloween appearance on Kitco News Keiser wasted no time in railing on the current repo market situation. Another $100 billion in temporary liquidity was injected into financial markets yesterday according to the WSJ. The FED also bought $7.5 billion in Treasury bills with the total holdings now at over $4 trillion.

Anchor Daniela Cambone quickly moved the subject on to bitcoin versus gold stating that a $10k investment in gold five years ago would have made $12,500 today, whereas the same amount invested in BTC would yield $270,000 today.

Keiser continued noting that the signals from the US repo markets are indicating that a financial catastrophe is looming and China could well…

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