- by Sarah Lovren…
The United States is currently the number one stockpiler of gold in the world with a total of 8,134 tons as of the second quarter of 2018. Since former President Richard Nixon took the U.S. Dollar off the gold standard in August of 1971, stockpiles of gold have grown, while historically, the dollar’s value has generally decreased.
The Federal Reserve has helped cause this erosion in value through less than stellar fiscal policies. One of these is the cancellation of international convertibility of the U.S. Dollar into gold.