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Shanghai 1930 Gold Backed Currency

By admin / July 8, 2018

QUESTION: Mr. Armstrong, what were the gold custom units issued by the Bank of China with the image of Sun Yat-sen. PHR ANSWER: The Customs Gold Unit (CGU) was the first peg to the US dollar. Here we have China issuing currency backed by the US dollar. It was a currency issued by the Central Bank of […]