Alasdair Macleod also notes many other nations in Eastern Europe, as well as India, are also upping their gold reserves, perhaps in preparation for a post-dollar trade zone.
The discussion then turns to Saudi Arabia's threat, as reported by Reuters, to stop pricing oil in dollars. The threat was rather quickly denied by the Kingdom, but Stacy asks Alasdair whether or not it would actually even matter if oil were priced in another currency. He says it does matter because it matters who clears the trade — for whichever nation's banks clear the trades, controls the global financial system.
Finally, the discussion turns to the Trump administration's demands for interest rate cuts when it's the administration's trade wars and tariff threats which are jeopardizing the global economy. Tune in to hear more.
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