China had outlined its position on the gold standard for the renminbi. They basically stated that if the world assigned the renminbi as the global currency, then they would convert other countries’ money into gold at any time.

This was why the value of gold now surpassed its previous high from the Day of Advent, as even ants started selling off their stocks. The media made a fuss that global hegemony had been handed over to China, and the global public were now paying attention to the New York Mercantile Exchange (NYMEX).

The link between gold and the renminbi was tightly intertwined, and numerous derivative products were intricately connected. This led to a vast amount of documentation on these products, which could make up a thick book. Even I found it difficult to comprehend, as the situation was caused by the extensive efforts of Chinese financial engineers. I wondered how many of them would actually have a complete understanding of it.

They called the derivatives ‘Small Golden Fish.’ A ticking bomb was attached to the small fish, and China was waiting for the right moment to detonate it. They would do so when...