Faced with a weakening dollar, major economic powers such as China, Russia and Germany are replenishing their gold reserves.
The US dollar has been dominant as the global reserve currency for a century. It was backed by gold, and the phrase, “good as gold,” had a literal meaning. Each dollar bill was worth its equivalent in physical gold. This made the dollar the world’s most respected and accepted currency.
These days, the dollar is joined by the euro and the yen as accepted currencies. No longer dominant, the dollar is losing its global position. Can it survive ? ...