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Geopolitical Economy Report
The politics of gold: Economist Michael Hudson explains why gold's price is rising so much
Feb 13, 2025
In this insightful discussion, award-winning economist Michael Hudson shares his expertise on the political dynamics driving the surging price of gold. He explores the complexities behind the US dollar system and how geopolitical tensions are impacting gold's market. Hudson questions traditional views on gold as an inflation hedge, elaborates on central banks' manipulative strategies, and discusses the implications of increased demand for physical gold amidst fears of economic instability. A deep dive into the evolving role of gold in today's financial landscape!
01:08:23
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Quick takeaways
- Central banks are driving the rising demand for gold due to geopolitical tensions and the fear of asset seizures under U.S. sanctions.
- The dynamics of the gold market differ from typical commodities, highlighting central banks' historical manipulation of gold prices to maintain dollar supremacy.
Deep dives
Rising Gold Prices and Global Tensions
The price of gold has significantly risen, nearly tripling since 2018, due to various factors, including increased central bank purchases amid geopolitical tensions. Countries under U.S. sanctions, which include a significant portion of low-income nations, fear asset seizures similar to Russia's recent experience. The war in Ukraine exacerbated these fears, prompting central banks to view gold as a safer alternative to dollar or euro-denominated assets. This shift reflects a broader sentiment that traditional financial systems are vulnerable to political pressures and economic manipulation.
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Discover
highlights
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