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Why countries are dropping the dollar - and buying gold
Published 1 month ago
Description
Gold has officially overtaken Treasury securities (US government debt) as the top asset held by global central banks, according to a report by the European Central Bank (ECB). Ben Norton explains how dedollarization is continuing, gradually and steadily.
VIDEO: https://www.youtube.com/watch?v=LmyWn2lrXBM
Topics
0:00 Decline of US dollar dominance
0:55 Debasement trade
1:42 Central banks buy gold
3:59 Gold overtakes US Treasuries
5:36 Top countries buying gold
7:00 West's seizure of Russian assets
8:54 Alleged unofficial gold holdings
10:16 Falling dollar share of reserves
12:14 Reasons for fall in gold price
14:58 EU hypocrisy
16:26 China keeps buying gold
18:05 China calls for multipolar system
19:13 De-dollarization is continuing
20:32 Outro