World Bank President Robert Zoellick, a former US Treasury official, calls for a system that “is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalization and then an open capital account.”  He adds: “The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values.”      – Financial Times, 11/7/10 The gold market and

Tariffs are like sanctions. Why does the US impose sanctions? Because of our financial might and the widespread use of the US dollar…With tariffs, everyone wants access to the US market. What are we trying to do?  We are trying to make China rebalance. China over-manufactures and they deprive the household sector. They under-consume. If you push them to rebalance, then the identity of that is more US manufacturing.      – Scott Bessent, 10/17/24,