So the US is now looking at seizing Russia's funds. No doubt Europe is looking at doing the same thing.
The US dollar is the global reserve currency because countries use it and can access it. What happens when that access is no longer guaranteed?
The US is extraordinarily powerful but there's a long list of countries in the world that aren't exactly friendly with it. China is no doubt thinking of invading Taiwan. Are they going to risk the US seizing the $1.06 trillion in Treasuries it holds?
That's an extreme example but there are dozens of countries out there run by people who could easily fall offside of Washington. So the question is: What do you put those reserves in instead?
You have to think gold is high on the list.
