Gold demand has outstripped supply for years, yet prices remained stagnant until recently. Economist Michael Hudson explains that the gold market is not a typical commodity market—it is politically controlled to sustain confidence in the U.S. dollar. Since 1971, when the U.S. abandoned the gold standard, central banks have been forced to hold reserves in U.S. Treasury securities instead of gold. This system allows the U.S. to fund its deficits through global dollar dependence. However, de-dollarization efforts by BRICS nations and a shifting financial landscape suggest the long-standing dominance of the U.S. dollar may be facing unprecedented challenges.