gold, page-72867

The pound used to be the reserve currency till just after WWII.
The US demanded nearly all GBs gold in payment for arms (final $ payment in 2006).
At the end of the war the US has 25,000 ton but by 1973 had pissed most against the wall so detached gold from $US.
The US became the reserve currency partly because of war debts owing.
London gold is a legacy of our colonial past. They have pillaged South Africa, Australia and many other countries.
If we were to nationalise gold, gas and coal tomorrow and stop exports you would soon realise how much financial power we did have.
Times have changed and we need to move on.
The US have proven to be a terrible custodian of the reserve currency.
Emerging markets are in for a shocker over the next year or two.
While we may have a small deflationary cycle, inflation is eventually going to rip the world apart.
Someone has to pay and you can be sure it won't be the good old US of A.