Brussels will warn world too reliant on dollar

Financial Times/Jim Brunsden, Sam Fleming and Phillip Stanford

graphic image showing share of reserve currency market for top currencies

Graphic illustration courtesy of • • • Click to Enlarge

“In particular, the paper highlights the EU’s difficulties in asserting its independence in the face of sanctions against Iran imposed by Mr Trump, citing them as proof of the need to ‘shield’ the bloc from ‘the effects of unlawful extraterritorial application’ of such measures.”

USAGOLD note:  The obvious question is what will the European Union rely upon instead? One would think that such concerns would enliven the gold repatriation movement, even prompt nation-states within the EU and perhaps the EU itself to boost their gold reserves. The pie chart above shows the breakdown for currency holdings within national reserves – as it stands now.

Repost from 1-19-2021

This entry was posted in Today's top gold news and opinion. Bookmark the permalink.