International Flight to Gold ?

09-08-2009 • Economic Policy Journal

Will the world run to the safety of gold as a form of international reserve currency, before the U.S. can force SDRs, its chosen alternative to the dollar, on the world? It might just be happening now. A friend sends along this comment from Adrian Douglas: I have recently described what is going on in the physical market to be the equivalent of a "run on the Bank of the Gold Cartel." There are many factors that are leading to that conclusion and here are just a few: -- China is a confirmed large buyer of gold, along with Russia.