China's banks use gold as legal currency

``I got to tell you, Dan, these are blockbuster numbers. And the banks are effectively allowing Chinese people to have bank accounts that are based in precious metals. I know Eric Sprott in Canada is trying to introduce a new banking facility that would give people in Canada a similar option to have their reserves or savings held in bullion. But, apparently, the Chinese are beating Eric Sprott to the punch. That's what it sounds like. ''