Rebirth: Super Banking System Chapter 2444 - 2284: Gold Treasury Bonds

Four thousand tons.

In terms of worth.

That already surpasses a trillion RMB. Put another way, the gold pulled from the earth by Myanmar this single year outstrips the GDP of numerous nations.

Truly.

Incredible.

Imagine if a gold mine of this scale appeared in Huaxia—wouldn't that be phenomenal? In that case, Huaxia's gold holdings would swiftly eclipse those of the United States.

Claiming the top spot worldwide.

Back then.

Global trust in the RMB would solidify even further.

Naturally.

Yet downsides exist too.

Right now.

The United States keeps pushing for RMB appreciation. But Huaxia prioritizes steadiness, since a sharp rise would severely damage exports.

Thus.

Even if reserves genuinely top the United States, they'd probably stay under wraps.

"Alas!"

Sun Jiang let out a sigh.

Huaxia's ascent isn't straightforward. Each move demands care, avoiding rashness, and given the vast scale, prudence is essential.

Balance haste with steadiness.

...At this moment.

Following Huaxia's gold reserve revelation, India found itself at a loss for words once more.

A prominent Indian economist appeared on television, declaring, "India requires greater gold reserves to bolster currency stability."

"Recommendation."

"The government ought to aggressively buy back domestic gold or acquire it abroad, aiming to push India's reserves beyond two thousand tons at minimum, preparing for upcoming challenges."

"..."

At length, he elaborated for more than ten minutes.

To sum up.

---Gather gold.

Failing that.

With the Reserve Bank of India's current holdings, the rupee can't possibly go truly global, a factor seen as a major barrier to its future growth.

Concurrently.

He suggested steps like curbing fake money and sustaining rupee trust, though the key remains boosting the central bank's gold stockpile.

Hearing this.

It sparked widespread excitement.

"Solid plan—our domestic gold tops the charts worldwide."

"Exactly, no one rivals us."

"Let's purchase."

"If we decide to, India's gold would dwarf everyone else's."

"Absolutely."

"..."

Countless Indians view this as the vital step to lift the rupee. Stung by earlier embarrassments, they're keen to reverse the tide.

It's worth mentioning.

India boasts the world's largest private gold reserves, unmatched by any, and reclaiming just a fifth would outpace Myanmar's total.

This reality.

Fills them with assurance.

Consequently.

Leading Indian outlets began covering this approach, hyping its advantages lavishly. Even officials stated their intent to buy gold at premium rates.

Still.

Harsh truth strikes.

All bark, no bite.

Fake notes.

Currency devaluation.

These form the chief hurdles to the rupee's ascent; folks prefer hoarding gold over paper money. Verbal backing flows freely, but handing over personal gold.

In return for rupees that might plunge anytime?

Please!

Am I an idiot?

With gold values climbing and the rupee sinking, the choice is obvious, leading to a curious sight: bold claims flooding Indian online spaces.

Nevertheless.

Official buy-up sites stood empty.

...Witnessing this.

"..."

Indian officials were left dumbstruck—where's the vowed commitment? Pure ploy, empty promises, how could this happen, utterly frustrating.

This being so.

How to speak of rupee elevation?

Hmph!

More like a trap.

That said.

Officials recognize their share of the blame, especially with fake currency rampant in India—a clear failing on their watch.

Enforce?

Certainly!

But.

The challenge is immense, as counterfeiters often have powerful ties, and though India looks cohesive externally, inside, states function like separate realms.

Tax rules vary.

What a mess.

Evidently.

They'll have to ride out the wave, resuming normalcy, as such fervent declarations have surfaced repeatedly, starting with fanfare.

Ultimate outcome.

Yelled.

Yelled.

They simply... acclimated, lacking any continuation.

...Meanwhile, as nations absorbed Myanmar's more than three thousand tons of gold reserves, on November 25, Myanmar unveiled yet another bombshell.

Going forward.

Yearly gold auctions are halted.

Revamped.

Early next month, the Myanmar Central Bank launches the initial 300 billion Asia Dollar 'Gold Treasury Bonds', three-year duration, offering zero interest.

Indeed.

No payout at redemption.

Yet.

After three years, holders can swap for matching gold volume at prevailing market rates or equivalent Asia Dollars based on the end-date gold value.

Additionally.

These Gold Treasury Bonds demand payment solely in Asia Dollars.

Instantly.

Worldwide focus shifted back sharply.

"What? Gold Treasury Bonds?"

"Zero interest?"

"First I've heard of no-interest bonds; resembles a zero-yield bank deposit, but redeemable for gold makes it unique."

"Spot on."

"If gold ascends, bonds gain; if it dips, they falter—fascinating setup, 300 billion tying to over a thousand tons of gold."

"Looks like Myanmar's mining yield falls short. They're postponing, paying out in three years—after all, even heaven's grace has bounds."

"Heh heh!"

"Smart deal!"

"..."

Plenty crunched numbers and saw minimal downside; even with falling prices, choosing physical gold works, as an innate currency, confidence runs high.

Should it drop.

It'll rebound eventually.

Should it climb.

Profit ensues, worst case settling gold at today's rate.

Either way.

Risks stay manageable; with that in mind, numerous central banks and investors reached out to Myanmar, particularly those who'd snapped up gold before.

Beforehand.

They'd also grabbed Myanmar's bonds.

After all.

Some foreign reserves sit idle, unallocated temporarily. Idle, they just erode via inflation, so investment appeals naturally.

Not huge sums though.

This round.

Eyeing their Asia Dollar forex balances, various central banks plan to scoop up all available 'Gold Treasury Bonds'—aim not gains.

But securing gold.

In essence.

This mirrors prior gold buys from Myanmar, merely deferring delivery three years; the sole variance is getting the gold later.

No issue!

Acquire.

Surely.

Some eager central banks lack Asia Dollars, forcing exchanges; Myanmar won't accept assorted currencies—pointless for reserve building.

Hence.

Trade with nations holding hefty Asia Dollar piles.

Glance around.

Huaxia holds the biggest stash.

Check.

Um.

A 1.5% swap fee seems reasonable, akin to a mere 1.5% premium on gold cost.

Trivial.

Proceed with exchange!

Multiple nations swapped dollars, euros, or yen for Huaxia's holdings, earning billions in passive gains.

Why pass it up?

Beyond that.

No go—Huaxia requires Asia Dollar buffers too. One might say, within a week, hundreds of billions in Asia Dollars flowed from foreign ledgers.