ITM Trading, Released on 6/7/25

“You can’t reset the gold price. It’s global. No one nation can do that,” says Dr. Nomi Prins, international economist and investigative journalist. In an interview with Daniela Cambone, Prins unpacks the myths behind recent headlines claiming China is resetting the gold price. She clarifies that while China isn’t resetting the price, it is making structural moves to reduce its reliance on the U.S. dollar and elevate gold’s role in trade and settlement. “What China is doing is accumulating more gold in its reserves while it is selling US Treasury bonds,” she explains. Addressing the upcoming July 1 Basel III deadline, Prins notes that gold is already classified as a Tier 1 asset under current rules. However, it is not yet recognized as a High-Quality Liquid Asset (HQLA) in the U.S. banking system. “The July 1st date matters, but the attribution to the date that’s out there is mostly inaccurate,” she says, emphasizing that the Fed’s decision remains uncertain.

00:00 — Is China Resetting the Gold Price?
06:02 — The Role of Gold and the Yuan
09:08 — Can Any Country Control the Gold Price?
10:43 — What Happens on July 1 Under Basel III?
16:08 — Ray Dalio’s Warning on Debt

Nomi Prins is an American author, journalist, and Senior Fellow at Demos. She has worked as a managing director at Goldman-Sachs and as a Senior Managing Director at Bear Stearns, as well as having worked as a senior strategist at Lehman Brothers and analyst at the Chase Manhattan Bank. Prins is known for her books All the Presidents’ Bankers: The Hidden Alliances that Drive American Power, Collusion: How Central Bankers Rigged the World and Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever. She publishes articles on her Substack which is called Prinsights. 

  china, financial crisis, gold, money