Gold Forecaster – Have Central Banks Lost Control of the Gold Market?

Gold Forecaster.com reported that- Have Central Banks Lost Control of the Gold Market?

When Eurodollars appeared in Europe, European central banks were not happy and sold them for U.S. gold. Then President Nixon, in his infinite wisdom closed the ‘gold window’ [After Europe had boosted their reserves after sending around 12,000 tonnes of gold across the Atlantic into European vaults]. In a mutually beneficial but clandestine accord, the world then saw the U.S. dollar rise to be the sole global reserve currency. It has continued to reign supreme because it is the only currency that is used to buy oil, oil that we all need.

Click here to access the entire editorial