The System is Changing
In 1971, the world’s financial system changed. Nixon took the US dollar off the gold standard. Today, the world’s financial system is changing again. Foreign central bank holdings of U.S. Treasuries (U.S. government debt) have fallen from their peak of $7.6 trillion in 2021–22 to about $3.8 trillion in 2025 — almost half. At the […]
