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There is a major shift underway in the global financial order. Countries are increasingly moving away from the U.S. dollar (NYSEARCA:UUP) in favor of alternative stores of value and mediums of exchange. This is seen on several levels, but perhaps most prominently in central banks’ move toward decreasing dollars as a percentage of their reserves in favor of alternatives like gold (GLD), while BRICS nations are also openly discussing establishing a competing currency or even several competing currencies to the U.S. dollar. Meanwhile, U.S. foreign policy is only further aggravating the problem that started when the Federal Reserve embarked on a decade of aggressive money printing and artificially low interest rates.
In this article, I will discuss this trend in greater detail and what its implications are for investors, and then conclude with how I am positioning my portfolio to shelter me and even generate alpha from it.
As previously mentioned, central banks have been buying gold in record numbers in recent years to the tune of hundreds and even thousands of tons. This buying has been led by the likes of China, India, and other major developing economies as they seek to increase their diversification away from the dollar.
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