by Jan Nieuwenhuijs, Gold Seek:
The share of global official gold reserves not stored at the Federal Reserve Bank in New York (FRBNY) and Bank of England (BOE) in London has reached 78% in 2024, from 51% in 1972.
The shift in this ratio appears to be accelerating and can be seen as a proxy for the West’s decline in financial dominance.
The Original Buildup of Foreign Gold in New York and London
“Gold is the bedrock of stability for the international monetary system,” wrote former President of the German central bank, Jens Weidmann, in 2019. Not surprisingly, no national currency has ever become the world reserve currency without a substantial amount of precious metal supporting it.
This is China’s advance salvo at Trump tariffs. It comes one day after the Biden administration expanded curbs on the sale of advanced American technology to China.
The United States is backing anti-Christian ‘rebel’ groups fighting to depose Syrian leader Bashar al-Assad. As JD Vance once asked, ‘Why can’t we stop genociding Christians?’ The answer is power. And that power has a lot to do with natural gas.
A fiscal and political crisis is brewing in France over mandated debt brakes. Marine le Pen threatens to collapse the government.
Anyone looking to replace the US dollar can “wave goodbye to America,” the president-elect has declared
Moscow’s new weapon could be used to hit Vladimir Zelensky’s HQ in Kiev, Aleksey Zhuravlyov has said