[MagnumOpus]

No, this is an artifact of Russian reserves getting frozen in 2022 and autocracies the world round getting more careful about having all their eggs in that basket.

The PRC’s SAFE is selling dollars and buying gold in a very covert but absolutely massive fashion, and most likely, so are many other countries in a smaller way.

[brianwawok]

Gold price is double, not sure it’s that quiet.

[thisislife2]

India has also been quietly bringing back its gold reserves stored abroad. NATO west made a very bad call by freezing, and then publicising their threat to also seize, Russia's foreign reserves in their country.

[expedition32]

The US is now openly threatening countries not to create an alternative to the dollar.

Ofcourse this does not work with PRC they are perfectly capable and willing to sink carrier groups if it comes down to it.