The rising price of gold is a vote of no confidence in the dollar

Doubts about the value of the dollar are therefore increasingly spreading abroad. The term “de-dollarization” is already doing the rounds. Japan and China, hitherto the largest creditors of the United States, are reducing their holdings of US Treasury bonds and are not reinvesting the interest and principal payments they receive in US Treasury bonds. In addition, non-Western central banks bought 1,136 tons of gold last year, the most since 1950. They are obviously keen to reduce their currency reserves’ dependence on the US dollar. Your portfolio should be diversified. Many countries interpreted the freezing of the Russian dollar currency reserves by the US administration in the wake of the Ukraine war as a wake-up call: US dollar balances are by no means safe, at least not if there is a political or military conflict with Washington.