E302 - Central Banks Are Trading Dollars for Gold. Why Isn’t America?
Published: September 9, 2026
Duration: 10:30
Why are central banks continuing to buy physical gold while reducing their reliance on the U.S. dollar?
In Episode 302 of The Secret War on Cash, Swiss America Trading’s Dean Heskin and Chris Agelastos examine reported central-bank gold purchases in July, including approximately 20 tons attributed to China out of 23 tons discussed in the program.
The hosts connect that buying with a longer-term reserve-diversification trend. They discuss survey findings indicating that most central banks expect global gold reserves to increase, while a substantial majority expect the dollar’s share of reserves to decline.
Dean and Chris also cons...
In Episode 302 of The Secret War on Cash, Swiss America Trading’s Dean Heskin and Chris Agelastos examine reported central-bank gold purchases in July, including approximately 20 tons attributed to China out of 23 tons discussed in the program.
The hosts connect that buying with a longer-term reserve-diversification trend. They discuss survey findings indicating that most central banks expect global gold reserves to increase, while a substantial majority expect the dollar’s share of reserves to decline.
Dean and Chris also cons...