Rickards, Christian: China Won't Back Yuan With Gold

``Rickards echoed this.  China is not buying gold to create a new gold standard; rather it is aiming to make the Yuan more attractive, with the end result of being included in a basket of currencies, referred to as the Special Drawing Rate (SDR). He added that there is a move to make the SDR the new global reserve currency.'' -- Indeed; though there are ways to utilize gold monetarily that don't have the flaws of a rigid fixed-conversion standard.