Perhaps the Chinese government sees the Yuan devaluation as favorable for China. I have no opinion on that matter. As for a huge devaluation of the Dollar against gold - I leave the consequences to your imagination. Will China actually carry through with this "Oil-for Yuan-for Gold" scheme?
On September 13th I participated in the Forum for "The Promotion of Savings by Mexicans" organized by the group "Legislators in Favor of Savings by the People" who are members of the Chamber of Deputies (i.e. "Congressmen") in the Mexican Federal Congress; the group is led by Congressman Francisco Javier Pinto. The fact that this meeting took place at the seat of one the Legislative Houses of the Mexican Republic is extraordinary news
The Bitcoin will become a history of mass speculation that came to grief. Charles Mackay said long ago: "Men, it has been well said, think in herds; it will be seen that they only recover their senses slowly, and one by one"
Who created the Mexican silver peso known as the "0.720 Peso"? President of Mexico Venustiano Carranza. When did minting of this coin begin? In 1920. Why was it known as the "0.720 Peso"? Because its silver content was 72% of its weight.
The Ancients described the political evolution of societies: from free Republics to Democracies; from Democracy, the prompt fall into Military Tyranny; from Military Tyranny to Kings and Emperors; from Kings and Emperors to Republics once again. And over and over again, the cycle repeats...