/biz/ - Business & Finance

>>57455436
Central banks also stack foreign currencies in their reserves. Curious? No, not really. Gold is just one financial asset that banks use as a diversified store of value.
>The USD has the power of money only because it once was backed by gold
This is such a reductionist and uninformed take. The USD became the world reserve currency, because post-WWII we were the only major power whose economy wasn't utterly decimated by the war and being the victors and the strongest standing industrial power, we decided the post-war nations needed access to capital through trade rather than empire, since that's what caused the war. That's why we built up the German and Japanese economies and enabled them to be the major economies that they are today. Their BTFO countries didn't start using the USD post-war because "oh it's backed by gold lol." And if you think the world is walking away from the USD because it's "painful," then lmao, lmfao even. If you think the USD is bad, just wait til you learn about other currencies. Inb4 muh BRICS+KEK

>>57455499
My sources tell me in about 2 weeks.