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How would a gold-backed settlement currency work? Political stability is an important factor that can impact currency fluctuations. HO1 is 100% funded by You - Covered to Date: Decide which cookies you want to allow. Date Open Close Daily High Daily Low; According to Credit Suisse, this new economic order will revolve around commodity-based currencies. This crash will be felt on a global level and many currency values will change as a result. Currencies never multiply in value overnight. But it might have alternative routes, and one of them could be a partially gold-backed settlement currency. if (window.location.toString().includes("?s=")) document.querySelectorAll(".popmake-overlay").forEach(el => el.remove()); Peter, Gold fell during the worst of the crisis in 2008 and 2020 and the USD got stronger. (Americas official gold reserves stand at 8,200 tons.) The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Vietnam Currency | Vietnam Money | How to Today, the global currency reset has turned into a serious conspiracy theory that believes the dollar will collapse. Predictions regarding the Iraqi dinar are a good example. So, whilst USD investors have gotten about 12% per year recently in the S&P500, investors into the S&P500 (GBP) have done better than the S&P500 (USD). A financial-economic war was already simmering between the U.S. and China prior to Russias invasion, and China has called for a new international financial order in the past. Depending on future circumstances, the Vietnamese official currency could see a rise in its value, but it depends on the further development of the ongoing global health crisis and the pace at which the global economic and business environment will improve. Could a 1 to 1 value ever actually exist? With Chinas M0 money supply around $1.4 trillion (9 trillion yuan), and assuming a 40 per cent gold backing, it would indicate a need for $560 billion worth of gold which is approximately the same amount of gold the U.S. holds in its official reserves at 8,200 tons.