Richard Russell: Gold Threatening Dollar’s Reserve Currency Status
January 28 — With the Fed announcement sending gold soaring more than 4% this week and silver almost 7%, Richard Russell is talking about gold replacing the dollar in international transactions, and taking over as the ‘King of Currencies.’ The Godfather of newsletter writers, had this to say in his latest commentary: “In a deal concluded in the 1970s, it was agreed that all transactions of oil would be done in US dollars. Thus the US dollar became the world's reserve currency, used for trading in most materials and commodities.” Read more.
