Vote to see vote counts
Foreign central banks are moving into gold because they no longer consider U.S. debt a safe asset.
The digital Silk Road could lead to a scenario where the U.S. is isolated if Huawei becomes the preferred partner globally, emphasizing the need for strategic alliances.
China is accumulating gold and may have more than the U.S., which hasn't had a public audit of its gold reserves. This raises questions about the quality of U.S. gold and the strategic moves of countries like China and Russia.
China has been the world's largest gold producer since 2007 and is also the largest importer. It's estimated that China may hold up to 15,000-16,000 tons of gold, potentially surpassing the US.
The idea that the U.S. dollar's weakening and the rise of BRICS are part of a deliberate strategy to undermine America is gaining traction among some analysts.
Russia's use of gold to purchase drones from Iran for the war in Ukraine highlights gold's role as a 'money of last resort.'
China's gold imports are largely non-transparent, with much of it going through Dubai, Switzerland, and London. The Shanghai Gold Exchange has seen over 22,000 tons redeemed.
Every great empire, from the Greeks to the Romans to the British, has had its currency serve as the global reserve. Currently, the US holds this position, but China's rise could challenge it.
The US dollar's strength is attributed to its central role in the global financial system, but this position is threatened by the ability to invalidate holdings in dollars.
The digital Silk Road initiative by China could shift global partnerships, potentially isolating the U.S. if it doesn't adapt its diplomatic strategies.