New international payment rails tied to gold hubs?
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Joe Leote
Jun 30, 2026, 7:40:12 PM (11 hours ago) Jun 30
to Money Group
Multiple online reports state that Turkey, and other importing nations, are selling both gold and US Treasuries to cover rising import costs of fuel caused by the Iran War. Turkey is defending its currency while other nations are covering the rising import costs.
Other reports say China is creating an alternative to the US dollar for clearing international trade payments. The new payment rails provide for payment against gold stored in non-Western gold hubs such as Hong Kong, Singapore, and Dubai. New York City and London are two large Western gold hubs.
The final link argues that China will eventually devalue the Yuan due to its massive internal debt. It also argues that strategic policies in China are driving gold prices at the margin.
Joe
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