This week ECB President Christine Lagarde proposed that the euro could rival the dollar if only the EU would finish what it started. Her wish list included deeper capital markets, more military muscle, new trade agreements, and a jointly-financed supply of “safe” assets. In short, she wants a stronger currency. What she has is the euro.
Lagarde’s comments, made in Berlin, offered a striking admission. The global monetary order is shifting. Investors are unsettled by erratic U.S. policy, the weaponisation of the dollar, and the growing fragmentation of the financial system. But they are not rushing into the euro. They are buying gold.
That tells us something important. Fiat alternatives need more than treaties and talking points. They need credibility. They need trust. And increasingly, they need to prove they can survive scrutiny.
This brings us to this week’s GoldCoreTV episode, presented by Jan Skoyles. The title is deliberately provocative: Why Gold and Silver Aren’t Money. Not because they’ve failed, but because the modern monetary system cannot afford their success. Gold and silver are excluded not due to volatility or inconvenience, but because they introduce limits in a system built to avoid them.
Jan explores why gold has been sidelined, how central banks still quietly treat it as the foundation of monetary integrity, and why the public is beginning to follow suit. From Nixon’s default in 1971 to the rise of BRICS gold reserves and the reality of CBDCs, this episode traces the lines between historical amnesia and monetary manipulation.
Lagarde may want to build a better euro. That’s her job. But the quiet capital flows tell a different story. When investors look for safety, they still reach for something far older than the euro or the dollar. They reach for gold.
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