US left gold backing so that they didn’t have to hold the...

US left gold backing so that they didn’t have to hold the physical gold required for its backing.
They attached the US dollar to the “petro-dollar” meaning all trades in oil and gas were to use $US - creating a demand of supply of $US for other countries to do trade. This has allowed the US to print money hand-over-fist unchecked.
Fast forward to 2024 - a lot of countries are now direct trading oil and gas …bypassing the need for USD…. and there’s the emergence of BRICS to consider.
I believe it to be a very astute move to back the ZiG to the price of gold - check out the POG over the last 5-10 years….. the return on gold has changed dramatically, yet mainstream still sprout the same narrative.
At some stage in the next 5-10 years I believe the US dollar will weaken significantly - with the removal of demand from the petro-dollar - whilst gold will remain a commodity of financial choice.
China has been accumulating gold at a significant rate for quite some time now …. I wonder why ?

”New Case for Gold” is a good read on this topic if anyone’s interested. - its about 10 years old, but a lot of things written in it seem to be slowly coming to fruition.

Meanwhile, I hold and remain steadfast with my IVZ investment - fundamentals haven’t really changed since my decision to enter - in fact the potential resource has only been improved… in it for the long term.