Countries Around the World Have Begun Pulling Their Gold from U.S Vaults

The United States of America is beginning to lose its reserve currency dominance. Countries around the world are working to find ways to circumvent the US dollar when it comes to trade and settlement. In addition to that, nations are requesting for their gold holdings stored overseas to return home.

Turkey has been the latest country to request their gold as they pulled 220 tons of gold out of the US Federal Reserve system on April 19, 2018. The countries 220 tons of gold is valued at $25.3 billion. Turkey has followed countries such as:

• Germany
• Netherlands
• Austria
• Belgium
• Russia
• China
• Azerbaijan

With regards to bringing or storing their gold home.

via zerohedge

Turkey’s President Tayyip Erdogan decision to withdraw their gold was an act of trying to prioritize his nation’s currency. He recently urged the international monetary fund to pay loans in gold instead of US dollars.

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