Let’s explore why central bankers’ top reserve asset is not US debt anymore

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  • Post last modified:9 June 2026

Globally, central banks now hold 27% of their reserve assets in gold, surpassing US dollar Treasuries at 22%, and just a year ago this was 20% gold versus 25% Treasuries, according to the latest report by the European Central Bank. In 2023, gold’s share was just 16%. Since the Russia-Ukraine war in 2022, China has purchased over 350 tonnes of gold, followed by Poland (320 tonnes), Türkiye (220 tonnes) and India (130 tonnes), according to the ECB, as geopolitical tensions continued to drive strong central bank demand for gold. According to the FT: The shifting composition of reserve assets — highly…

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Former BBC Middle East correspondent: broadcaster was central to ‘Labour antisemitism’ scam

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  • Post last modified:8 June 2026

The BBC’s former Middle East correspondent has described how the broadcaster was a “prime mover” in the ‘Labour antisemitism’ scam that helped topple Jeremy Corbyn as Labour leader. Tim Llewellyn was writing a review, for Electronic Intifada, of Rebecca Gordon-Nesbitt’s new book Killing Corbynism: Zionism’s War on Socialism. Llewellyn says that the BBC generated a “tidal wave of lies and misreporting” on Corbyn’s party and the left in general. He adds that this tidal wave was so large — and so unchallenged by so-called ‘mainstream’ journalists — that it is routinely parroted as fact. Often by those same hacks, despite being entirely…

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