Dedollarization grows: Countries drop dollar assets, as gold overtakes US Treasury bonds

De-dollarization is growing around the world. Central banks are buying tons of gold, which overtook US Treasury securities in reserves in 2025. Even private investors are diversifying out of dollar assets, as risk rises. Ben Norton explains how Washington's sanctions, Trump's tariffs, and the weaponization of US-dominated international financial institutions have backfired. VIDEO: https://www.youtube.com/watch?v=hVjy1Hlh5zc Topics 0:00 Dedollarization increases 1:36 US sanctions backfire 2:20 Donald Trump threatens BRICS 2:49 Central bank holdings of US Treasuries 3:59 China de-dollarizes 5:29 US trade war on China failed 7:10 Foreign holdings of US bonds 8:09 Government vs private investment 9:53 Central banks buy lots of gold 10:51 No return to gold standard 13:30 Gold as neutral reserve asset 14:28 Gold overtakes US Treasury holdings 15:07 Gold price skyrockets 16:18 Nixon Shock to Trump Shock 17:08 This is not just about Trump 19:04 2008 financial crisis: turning point 20:48 Western seizure of Russia's assets 22:26 Ukraine war fuels gold purchases 23:21 Central bank undeclared gold buying 26:04 Uruguay dedollarizes 27:48 Argentina's Javier Milei 28:40 Sovereignty vs imperialism 29:09 Investors de-risk out of US assets 33:37 Decline of US dollar dominance 34:14 Global South de-dollarizes trade 35:35 New BRICS payment systems 36:25 Internationalization of renminbi 37:15 Financial multipolarity 38:48 Outro