Why Are Central Banks Around the World Hoarding Gold? With Andy Schectman
The Jay Martin Show
00:00
What Makes the Dollar the World Reserve Currency?
Nixon closed the gold window, rendering the dollar completely and totally fiat. For that privilege, OPEC will denominate oil globally in dollars period. The Bank of International Settlements reclassified gold as the world's only other tier one reserve asset. From 1944 until 2019, there have been no central banks so far concerned with being a "tier one reserve" asset like gold.
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