Mike Kudzel

OK. OK. So it's like a Franken reserve currency.

Oh, dear. Okay. I'm feeling more pessimistic than I expected.

Oh, dear. Okay. I'm feeling more pessimistic than I expected.

Oh, dear. Okay. I'm feeling more pessimistic than I expected.

Liquid, safe. Why not the euro? Well, Ishwar says.

Liquid, safe. Why not the euro? Well, Ishwar says.

Liquid, safe. Why not the euro? Well, Ishwar says.

All those countries have their own governments with their own budgets and policies for taxing and spending. And sometimes that doesn't work out so well. Ishwar remembers the Eurozone debt crisis 15 years ago when suddenly Greece realized its books were not accurate and it did not have the money that it thought it did. In fact, it didn't have any money at all. And everyone freaked out.

All those countries have their own governments with their own budgets and policies for taxing and spending. And sometimes that doesn't work out so well. Ishwar remembers the Eurozone debt crisis 15 years ago when suddenly Greece realized its books were not accurate and it did not have the money that it thought it did. In fact, it didn't have any money at all. And everyone freaked out.

All those countries have their own governments with their own budgets and policies for taxing and spending. And sometimes that doesn't work out so well. Ishwar remembers the Eurozone debt crisis 15 years ago when suddenly Greece realized its books were not accurate and it did not have the money that it thought it did. In fact, it didn't have any money at all. And everyone freaked out.

Okay, so not the euro. What about the other obvious candidate, the other biggest economy in the world? Interestingly, China has been actively trying to become a bigger player in the reserve currency world to get more of the world to use its renminbi.

Okay, so not the euro. What about the other obvious candidate, the other biggest economy in the world? Interestingly, China has been actively trying to become a bigger player in the reserve currency world to get more of the world to use its renminbi.

Okay, so not the euro. What about the other obvious candidate, the other biggest economy in the world? Interestingly, China has been actively trying to become a bigger player in the reserve currency world to get more of the world to use its renminbi.

The renminbi went from being no percent of global foreign exchange reserves to 2.2 percent. Not huge. And that percentage has not been growing.

The renminbi went from being no percent of global foreign exchange reserves to 2.2 percent. Not huge. And that percentage has not been growing.

The renminbi went from being no percent of global foreign exchange reserves to 2.2 percent. Not huge. And that percentage has not been growing.

That's probably the biggest impediment for China. Trust. Central bankers and foreign investors around the world worry that China will change its rules and they won't be able to get their money out, despite China's promises. So, okay, wow. We have found functionally no viable candidates.

That's probably the biggest impediment for China. Trust. Central bankers and foreign investors around the world worry that China will change its rules and they won't be able to get their money out, despite China's promises. So, okay, wow. We have found functionally no viable candidates.

That's probably the biggest impediment for China. Trust. Central bankers and foreign investors around the world worry that China will change its rules and they won't be able to get their money out, despite China's promises. So, okay, wow. We have found functionally no viable candidates.

Okay, let's do gold. I love gold. Who doesn't?