US Dollar

**uls** · July 13th, 2023 09:35 PM

humina dollar

dollar index:

**uls** · July 13th, 2023 09:46 PM

a level that held for 6 months was just taken out

**Athrunzala** · July 13th, 2023 10:34 PM

Russia, other BRICS nations planning new gold-backed currency

Just a moment...

**Monseratto** · July 15th, 2023 11:40 AM

When the West froze Russian reserves ...

As trust in the US falls, countries want their gold back - The Post

**Monseratto** · July 15th, 2023 11:42 AM

China continues to de-dollarize reserves as gold stockpile climbs for 8th straight month

China's central bank extended its gold-buying spree into an eighth consecutive month, adding 23 tons in June.

Now, the People's Bank of China holds 2,330 tons of gold in its reserves, according to official data cited by Bloomberg.

The gold stockpiling comes amid the country's bid to erode the dollar's global dominance as well as growing economic and geopolitical uneasiness.

Meanwhile, other central banks around the world are buying up gold too. In 2022, demand for the yellow metal skyrocketed, and the trend has continued into this year with first-quarter purchases up 176% annually.

Though the greenback has been a long-standing reserve asset, the shift away from it follows Western sanctions on Russia for its invasion of Ukraine, effectively cutting off Moscow from $300 billion of its foreign-currency reserves.

**uls** · July 15th, 2023 12:06 PM

i don't think the recent decline in USD has to do with de-dollarization

it has more to do with slowing US inflation rate which means the Fed may not have to keep raising rates

no more rate hikes --> dollar down

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but as i said last year immediately after the US froze russia's dollar reserves -- other countries will realize holding dollars aren't as safe as once thought

it's much safer to keep your savings inside your own country (physical gold) than in the form of digits in a foreign central bank's hard drive