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Chapter 1420: Chapter 1267: Global Fourth (Please Subscribe!)
This news.
Its explosiveness.
Is absolutely on par with---"The President of the United States was beaten up on the street for five minutes, the assailant walked away, and security personnel watched on as the masses applauded." Such a ’rumor’ is almost beyond imagination.
Not only foreigners.
Even the nationals.
Are somewhat incredulous.
Thinking that the TV host reported it wrong, for example... added an extra zero. All major concerned institutions were also collectively dumbfounded, thinking to themselves, do you really need to make up such a lie to save the credibility of the Asia Dollar?
More than 2600 tons of gold reserves.
What does that represent?
Just a simple comparison makes it clear.
France, the third largest holder of gold reserves globally, has official gold reserves of just 2680 tons. With this, you’ve leaped from obscurity to the fourth largest in the world, almost toppling France.
Do you think I would believe that?
Ah.
If I believed you.
What about my IQ?
...
South Korea.
Busan.
Kim Siwoo was having breakfast.
His heart was still buoyed by last night’s excitement.
Suddenly.
The butler rushed in, "Director Kim, there’s big news. Myanmar Bank just announced that they have 2650 tons of gold reserves as a security for issuing the Asia Dollar."
"Spurt~~~"
The milk Kim Siwoo had yet to swallow sprayed out.
"Cough cough..."
His face was already filled with question marks. Initially, like everyone else, he thought this was fake news, and incredibly fake at that, yet deep down there was a feeling that it might be true.
That feeling.
Came from understanding Ling.
Ling always acted with caution, walked the talk, and never blurted out vain words; he was an absolute doer.
However.
It also didn’t exclude the possibility that Ling was bluffing.
After all.
People have many facets.
And the amount of gold reserves is usually announced by the country itself, it doesn’t need to be proven to anyone unless it’s all melted or thoroughly machine examined. Otherwise, outsiders cannot confirm it.
’Dudu dudu...’
At this time.
The home phone rang.
The butler quickly handed it over.
"Have you gotten the news?" A confident voice came through, a chief director from the Samsung consortium.
Kim Siwoo nodded: "I’m aware."
"What do you think?"
"There’s a fifty percent chance it’s a bluff."
"And the other half?"
"We’ve become the joke," Kim Siwoo said with a bitter smile.
"..."
There was silence on the other end.
"Keep an eye on this matter; we can’t just admit defeat from the start. I don’t believe he can actually prove Myanmar Bank has that much gold." This was a critical breakthrough.
Kim Siwoo nodded.
"Understood."
At that moment.
Kim Siwoo suddenly realized why the Korean Won was so fragile; it’s not without reason. Even though the Gold Standard is outdated, the value of gold still exists, and is diligently maintained by countries around the world.
This thing.
Is very rare.
Even the only generally accepted medium of exchange accepted by the global populace.
For thousands of years.
The status of gold has been very stable.
And widely recognized.
This mineral rooted in global history has people deeply convinced that gold will always be a safeguard of wealth, therefore, no country plans to abandon it.
For instance, the United States.
Possesses the most gold reserves in the world.
Is decidedly not willing to see gold become a worthless mineral, and other great powers also know this point, hence they have never removed it from their reserves. South Korea, on the contrary, lacks this.
South Korea’s official reserves are merely a scant dozen tons.
Even though it holds a substantial amount of US dollars.
It still can’t keep the Korean Won robust.
While the Asia Dollar.
Should it be proven to have so much gold as issuance security, its international influence and currency value, as well as the currency confidence, will be thoroughly stabilized. By then, even if the United States took action, it might not necessarily suppress it.
Because if gold depreciated by half.
The United States’ gold must also devalue.
This move of killing a thousand enemies
and harming oneself by eight hundred
is not one the United States dares to play with lightly. And South Korea, with just over a dozen tons of gold, what can they really do? They can’t even touch the edge of international gold pricing power; that’s the domain of European and American consortiums.
They can only hope
that this is just a joke played by a zero-sum world.
Otherwise,
they will become the joke.
...
In the United States,
the media went completely nuts.
Damn it.
Let’s put ERV aside for now.
This news
is too stimulating.
Over 2,600 tons, which is close to one-third of America’s gold reserves. To think, the US gold reserves are as high as over 8,000 tons, but this gold is not all America’s.
Most of it belongs to over eighty countries around the world.
The United States is just holding it for safekeeping.
By this token,
Myanmar’s gold reserves could be on par with those of the US.
The importance of gold speaks for itself. It wouldn’t be reserved by great powers if it weren’t important. The US has refused many times, for who knows how many, other countries’ requests to repatriate their gold, just to keep this gold.
And Germany, France, and Italy, ranking second, third, and fourth, respectively,
have always been trying to increase their reserves.
This is because
they are one of the six founding countries of the European Union.
The other three founding member states and even later core member states all have significant gold reserves as well. This gold is so that the euro can be trusted by the masses.
Suddenly,
it was overwhelming.
In the United States,
almost every TV station and news portal was taken over by this news.
Public opinion was in an uproar.
Americans sitting down to dinner uttered countless ’MY GOD’s.
The internet also heated up with debates.
"It’s fake."
"It must be fake."
"Impossible."
"What kind of gold mine can extract over two thousand tons in two years? As a professional, I can tell it’s a lie just by looking at it. The mining and smelting of gold, even for high-grade ore, is just not possible..."
"I used to think this was a nation that acted with integrity, but I didn’t expect them to concoct such a low-grade lie. Now, I have to doubt whether the transcription fluid was actually developed by them."
"They’re treating the world like fools."
"Swindlers."
"..."
Quickly,
after the excitement subsided,
everyone expressed skepticism in unison; some, who were particularly agitated, even clamored for Myanmar Bank to provide solid evidence, otherwise this might be the year’s biggest international joke.
In Europe,
it was deep into the night.
But countless relevant professionals were woken up by phone calls.
After hearing the news,
they were instantly wide awake.
A country that suddenly acquires so much gold reserve can certainly have a certain impact on the global financial landscape, and the Asia Dollar might just establish a firm footing and rise with strength as a result.
Any currency that enjoys broad recognition of value
is an opportunity.
As for whether it’s fake news?
That is something that has to be proven later; their job is not to doubt the data published by other countries, but to think about how to profit from these data, which is fundamentally different from the masses who are just watching the spectacle.
...
In Huaxia,
early in the morning,
netizens saw this news
and had a laugh.
Just last night, the American media were questioning the credibility of the Asia Dollar, but overnight, they threw out several thousand tons of gold, serving a swift face-slap that was applauded.
As long as it makes the United States look bad,
Huaxia netizens are happy.
As for the authenticity,
what does that matter!
However,
regarding the Asia Dollar,
they also began to have a sense of its value. Gold has played the role of money throughout Huaxia’s history, being the firmest currency. A currency backed by massive amounts of gold naturally earns trust.
