Mark Carney calls for global monetary system to replace the dollar

Financial Times/Chris Giles

Graphic image of Humpty Dumpty perched happily on a wall“Mark Carney, the Bank of England governor, has said that the world’s reliance on the US dollar ‘won’t hold’ and needs to be replaced by a new international monetary and financial system based on many more global currencies.”

USAGOLD note:  The real story is not the global currency of the future – whatever form it might take – but the escalating move to dethrone the dollar as the world’s reserve currency. In the end, dedollarization carries potentially bullish implications for gold in dollar terms. It comes as a surprise that someone the stature of Bank of England’s Mark Carney would promote moving beyond the dollar as the world’s reserve currency.


Repost from 8-25-2019

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