Gold Based RMB
On Thursday, February 5, 2026 the Senate Banking Committee held a hearing entitled The Financial Stability Oversight Council’s Annual Report to Congress. They heard from Treasury Secretary Scott Bessent.[1]
At one point, Senator Lummis of Wyoming asked, “Is China trying to use digital assets and blockchain to build an alternative to American financial leadership?”
Bessent replied, “We don’t know that for sure. There are lots of rumors of Chinese digital assets, of Chinese digital assets that may be backed by something other than the RMB- perhaps gold based. We haven’t seen that. They have a very large sandbox; and Hong Kong and HKMA {Hong Kong Monetary Authority] is actively travelling the world, looking at different mechanisms. So, I would not be surprised.”
Considering that the Chicago based Metropolitan Capital Bank and Trust was just bailed out by the FDIC and taken over by the First Independence Bank from Detroit on January 30, a banking system and dollar backed by the commercial real estate market may not be our financial leaders much longer.[2][3][4]
Per Talor Kenney of ITM Trading speaking in a video published on February 3, “The truth is, that over 2/3- the majority- of total commercial real estate loans in the United States are held by regional banks. Meaning the exposure and the risk that this bank just went through is happening all over the country.”
Hell, not to mention that the powers-that-be have just been exposed to the general public by the most recent release of redacted Epstein files. Having a large group of American politicians exposed as being blackmailed with pedophilia may not be good for the full faith and credit of the paper dollar.[5]
