Dr. Nomi Prins says China can’t reset gold prices—gold is global. Instead, China is boosting its gold reserves and ditching U.S. Treasuries to lessen dollar dependence. She warns headlines about a July 1 gold reset are misleading. While gold is a Tier 1 asset, it’s still not considered a high-quality liquid asset (HQLA) in the U.S. Prins says any change depends on the Fed—not the Basel III deadline.
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